Grove Street, a Commercial Real Estate (CRE) financial services firm, is hiring for our Agency/FHA Multifamily Underwriting team. For over fifteen years, we have helped our clients – investment banks, debt funds and government agencies – analyze and close over $150 billion of CRE loans. You bring your positive attitude, motivation and curiosity, and we will help you grow your skills in the multifamily CRE sector.
Position Overview:
If you have a minimum of 5 years of experience underwriting loans for Fannie Mae, Freddie Mac or CMBS multifamily lenders, we are excited to have you join our team. You will work on multifamily transactions across the country, including affordable, student- and senior-housing.
These positions are remote and require a U.S. residence and formal background check. Successful candidates will be requested to explain CRE procedures during initial interviews and complete a quantitative and written examination. Compensation is based on overall candidate qualifications.
Key Responsibilities:
• Review Multifamily Commercial Real Estate Loan Due Diligence: Analyze all due diligence items including borrower financials and organizational charts, property cash flows and performance, market trends and supply/demand factors, third-party reports and all required documentation according to Freddie Mac, Fannie Mae, and/or lender proprietary guidelines.
• Underwrite Financials and Summarize Risks: Conduct detailed financial analyses, such as cash flow projections, debt service coverage ratios and property valuations; identify potential borrower and loan performance risks and recommend risk mitigation strategies; inform clients of unexpected issues and concerns. Create clear, concise, and thorough underwriting packages; triple-check data inputs and re-read investment memos prior to submission to ensure accuracy; present findings and recommendations to credit committees and senior leadership.
• Ensure Compliance with Agency & Company Guidelines: Ensure all underwriting is performed in compliance with current requirements as Freddie Mac, Fannie Mae and FHA guidelines are subject to change due to market conditions; be flexible and open to adapt to new policies, procedures, and regulatory standards to ensure loans close on time.
Qualifications:
• Experience: Minimum of 5 years of underwriting experience in commercial real estate, with a focus on multifamily properties. Direct experience with Freddie Mac and/or Fannie Mae financing is highly preferred, either with a national lender or an Agency.
• Education: Bachelor’s degree in Finance, Real Estate, Business, Economics, or related field; advanced degrees or certifications (e.g., CFA, CPA, MAI) are a plus.
• Technical Skills: Strong proficiency with Excel financial modeling and real estate underwriting software. Knowledge of Agency-specific platforms and tools is an advantage.
• Analytical Skills: Ability to interpret complex financial data, market trends, and risk factors to make well-informed underwriting decisions.
• Communication Skills: Excellent written and verbal communication skills, with the ability to present underwriting recommendations to senior leadership and external stakeholders clearly and effectively.
• Attention to Detail/Time Management: Attention to detail, ensuring accuracy in all investment committee deliverables and adherence to Agency guidelines. Demonstrated ability to organize and prioritize projects, and to complete multiple tasks on schedule.
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