Director, Underwriting

Purpose and Job Summary:

The Senior Underwriter will underwrite Freddie Mac and Fannie Mae multifamily loan applications within the Affordable Housing Division of Lument. Specifically, the candidate will: i) have primary responsibility for the underwriting and submissions and credit recommendations; ii) prepare credit request presentations for Freddie Mac and Fannie Mae, loan committee, and corporate credit committee and participate in the approval process for all loan applications.

Essential Duties and Responsibilities:

• Primary responsibility for transactions assigned; proactively keep transaction team informed of project-specific progress and issues to facilitate smooth executions.
• Ensure programmatic requirements are met for each loan application (Freddie Mac and Fannie Mae, as applicable), and any deviation is clearly documented and approved by all required parties.
• Complete site visits on transactions assigned (travel required).
• Conduct weekly deal team meetings on each assigned transaction; communicate clearly with borrowers, originators, counsel, and others involved in financing.
• Review all due diligence material provided for transactions; quickly and accurately analyze and underwrite such data and identify key underwriting issues and potential transaction risks.
• Critically review, evaluate, and approve all third-party reports.
• Analyze, explain, and document mortgage-secured transactions through the Credit Committee packages for Freddie Mac and Fannie Mae.
• Analyze the creditworthiness of the sponsorship and the real estate and provide concise risks and mitigates/recommendations to Loan Committee.
• Work diligently to control the quality of loans underwritten, provide thoughtful, critical underwriting, and ensure that such underwriting is adequately documented.
• Identify and prepare all program exceptions/waivers and other documentation for Freddie Mac/Fannie Mae or other mortgage and finance programs, as required.
• Ensure final underwriting is documented accurately, files are complete and accurate, and comply with OREC's loan file policy.

• A bachelor's degree is required, with a concentration in finance or accounting, which is preferred.
• A minimum of 5 years of previous experience in analyzing/underwriting real estate loans is required.
• Direct experience with Freddie Mac and Fannie Mae multifamily underwriting is preferable.
• Experience with Conduit, Life Company, or FHA programs is a plus.
• Ability to work well under pressure and adjust to varied workloads.
• Excellent communication and organizational skills are required.
• The position requires the ability to travel.
• Proficiency in Microsoft Office and list other relevant systems or software.
• Excellent organizational, communication, presentation, and interpersonal skills.
• Ability to plan, organize, and prioritize assignments and to meet critical and established deadlines; Ability to manage multiple assignments and transactions simultaneously.
• Demonstrated ability to maintain confidentiality and to use discretion in the performance of daily activities.
• Professional business image and excellent command of the English language, both verbally and in writing (spelling, grammar, and punctuation).
• Ability to learn quickly and demonstrated ability to work independently and as part of a high-performance team.
• Flexibility and ability to work under pressure with tight deadlines and constant interruptions; Ability to adjust priorities in a changing environment.