As our GSE Senior Underwriter, you will be responsible for ensuring the timely, accurate, and high-quality underwriting of multifamily mortgage loan transactions in accordance with Agency and Bank guidelines. Day-to-day responsibilities include reviewing customer data, making sound credit decisions, and ensuring they are documented to secondary market guidelines where applicable. Our GSE Senior Underwriters are highly skilled at managing clients and expectations, in tandem with Production, through clear communication to preemptively address potential issues or impediments to timing.

We are looking for someone who is comfortable working autonomously with moderate supervision, and who can independently underwrite new loan originations for Fannie Mae/Freddie Mac. Merchants underwriting team will perform the evaluation of the proposed Agency loans for credit risk; obtain deal approvals from Merchants credit committee and respective Agency.  

After one year as our GSE Senior Underwriter, you will know you were successful if you…

• Underwrite multifamily Agency loans originated by Merchants Capital.
• Manage the underwriting process for new loans from origination to closing.
• Adhere to Agency loan requirements, reviewing updates on an ongoing basis, to stay current on changes made by respective Agencies and/or Merchants.
• Perform site inspections of underwritten assets.
• Manage third-party vendors and comprehensively evaluate third-party reports including appraisal reports, engineering reports, environmental reports, zoning reports, flood certifications, etc.
• Coordinate and manage clear communication with internal Merchants staff including the Review Underwriter, originations, and closings team; Agency; third party vendors, including but not limited to, the appraiser, engineer, and environmental consultant; Merchants legal counsel; insurance team; borrower and any others that are pertinent to the success of the transaction.
• Evaluate Borrower financial statements, bank statements, credit reports, legal searches, real estate-owned (REO) schedules, resumes, etc., and determine any potential credit risks while exercising problem-solving capabilities and independent judgment.
• Generate a Due Diligence checklist along with monitoring receipt of and processing due diligence as it is received. Review files for completeness and identify critical missing information.
• Analyze historical operating statements, rent rolls, market characteristics, etc., and complete the underwriting loan submission template.
• Prepare the loan package for evaluation and approval by Merchants Credit Committee and Agency Lenders.

What we are looking for…

• Bachelor’s degree in finance, economics, real estate, or another related field required.
• Minimum three-years of multifamily loan underwriting experience with Fannie Mae and Freddie Mac loan products, preferably affordable products.
• Strong knowledge and understanding of Agency lending guidelines, including applying applicable credit parameters in order to minimize credit risk required.
• High-level analytical abilities and deductive reasoning, including strong research, and written/oral presentation skills. At this level it will generally be done independently or in combination with the Chief/Deputy for high-level decisions. 
• Requires critical thinking skills and multitasking.
• Proactive team player, able to work effectively under tight timelines, including the ability to provide guidance and be a resource for more junior Underwriting staff.
• Expertise in Microsoft Word, Excel, PowerPoint, and Adobe required 

PM20 #CL