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The Affordable Underwriting Screening Analyst will be involved in the loan underwriting process from the screening stage through underwriting and delivery of loans to the Agency lender (Fannie Mae or Freddie Mac). The position will communicate with internal and external parties throughout the screening and underwriting process and will analyze and interpret complex multifamily real estate transactions in compliance with written guidelines under supervision from underwriters and will assist underwriters in preparing and presenting comprehensive loan approval packages to loan committee. BASIC FUNCTIONS:
Provide analytical support to the Deputy Chief Underwriter for preliminary loan screenings
Assist the affordable housing underwriting teams in collecting, processing, and analyzing loan due diligence
Under supervision, complete financial analysis of loans in the support of underwriting
Assist with the delivery of closed loans to Fannie Mae and Freddie Mac
Maintain pipeline reports and other internal resources
Coordinate the engagement of 3rd party consultants
Complete ad hoc assignments as needed
Work with third party (external) underwriters and vendors and become an internal liaison for them
Assist with underwriting Forward loan conversions
KNOWLEDGE: To perform this job successfully, an individual must be detail oriented and possess good verbal and written communication skills. The individual is expected to have a basic understanding of multifamily real estate underwriting and Agency lending requirements. Knowledge of affordable housing (Section 8, LIHTC, etc.) is preferred.
ORGANIZATIONAL SKILLS: Excellent organizational skills are required due to the volume and complexity of transactions. The candidate must have the ability to multitask, possess a high level of initiative, and have the ability to adapt to changing requirements and priorities. Must be able to plan and schedule own workload to ensure priorities are handled appropriately with limited direct oversight.
COMPUTER PROFICIENCY: The position requires proficiency with Microsoft Office, particularly with Outlook, Excel, and Word. The successful candidate will have experience working within Office in a fast paced environment with multiple applications open simultaneously. The ability to use internet browsers and search functions is also required. Will be required to work within proprietary document management and loan analysis/tracking systems.
ANALYTICAL / MATHEMATICAL SKILLS: Familiarity with basic financial and real estate concepts including loan terms, multifamily property cash flows, debt yield, etc. is required. Must possess strong basic mathematical skills.
CUSTOMER SERVICE: Must provide high quality service to the affordable housing tem members (both underwriting and production), the company's clients and vendors, as well as other departments within the company. This includes meeting deadlines which may require working extended hours. Having direct interaction with internal and external clients, this position requires professional communication skills.
EDUCATION / EXPERIENCE: One to five years experience in multifamily finance, familiarity with affordable housing preferred. Bachelor's degree from four-year college or university required, preferably with a major in finance or real estate.