Senior Agency Underwriter - Affordable

Make your next move an expert one.

At Colliers it's not our success that sets us apart, it's how we achieve it. Our people are passionate, take ownership and always do what's right for our clients, people and communities.

Why Colliers?

Our enterprising environment needs your expertise to facilitate Colliers' continued growth as an industry leader. Our nimble, decentralized culture can provide you with a wealth of opportunities to learn about our business and quickly gain experience to accelerate your career.

*** Remote work available for well qualified candidates ***

SUMMARY

Colliers Mortgage is seeking a Senior Underwriter as a member of our Agency Credit Underwriting team, with a focus on affordable housing (MAH) transactions. The Senior Underwriter is responsible for the underwriting of complex loan transactions within Agency multifamily guidelines as well as providing training and oversight to Underwriting Analysts. As part of the underwriting process, the Senior Underwriter reviews and determines the eligibility of the proposed commercial loan through analysis of credit, experience, market information, operating history and property condition.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Evaluate the credit risk of prospective loan and sponsor, while developing and maintaining a strong understanding of the Fannie Mae Multifamily Selling and Servicing guidelines
• Maintain intricate knowledge of federal, state, and local affordable housing programs, such as LIHTC and Section 8 within the Fannie Mae Multifamily Affordable Housing (MAH) underwriting guidelines
• Complete analysis within the prospective commercial loan financial model with rent rolls, budgets, operating statements and third-party report conclusions
• Prepare thorough narrative summarizing commercial loan terms, the property, the market, the sponsorship, and overall strengths and risks of the transaction
• Perform in-person property/site inspections and complete lease audits verifying property operations
• Conduct market research to evaluate comparable properties and local market trends, utilizing CoStar and third-party appraisal reports
• Recognize and analyze industry trends, including current economic conditions, interest rate environment, and demographic trends
• Review and approve third party reports including, but not limited to: appraisals, property condition assessments, environmental site assessments (phase 1 and 2) and zoning reports
• Manage and maintain underwriting due diligence checklist
• Provide training, review, and oversight of Underwriting Analysts
• Coordinate and present Loan Committee packages
• Communicate closely with loan production and capital markets teams to ensure a timely rate lock and closing
• Manage loans via the Fannie Mae DUS Gateway system to submit waivers and/or loan options
• Compile all required final documents, including but not limited to committee package, certifications, and third-party reports, for securitization
• Other duties as assigned

REQUIRED EDUCATION AND EXPERIENCE

• 6+ years of experience in commercial/multifamily loan underwriting/credit analysis (including a minimum of 4 years of Multifamily Affordable Housing underwriting experience) to include property inspection experience
• Expert knowledge of the Low-Income Housing Tax Credit program and project-based Section 8 housing
• Intricate knowledge of Multifamily Agency Selling and Servicing Guides
• Knowledge and understanding of complex borrower structures such as Delaware Statutory Trust (DST) and Preferred Equity
• Experience underwriting various Fannie Mae MAH products, such as MBS as Tax-Exempt Bond Collateral (MTEB) loans, unfunded forwards, Reduced Occupancy Affordable Rehabilitation (ROAR) loans, etc.
• Experience interacting with bond underwriting teams (either internal or external) and outside legal counsel
• Experience providing oversight or training of Underwriting Analysts
• Exceptional written and verbal communication skills required
• Exceptional Microsoft Office skills required with some advanced financial and data manipulation functions in Microsoft Excel preferred
• Bachelor's Degree required

JOB EXPECTATIONS

• Regular and reliable attendance required
• Occasional domestic travel required

COMPENSATION

Pursuant to the laws regarding job postings where the position is located in, Colliers is disclosing the following information:

Approximate Wage Range for this Role: $115,000 - $185,000 per year

This position is also eligible for a discretionary bonus

Our compensation ranges are determined by role, level, and location. The range displayed on this job posting reflects the minimum and maximum target for new hire salaries for the position across all US locations. Within the range, individual pay is determined by work location and additional factors, including job-related skills, experience, and relevant education or training.

BENEFITS

We offer a comprehensive benefits package for employees and their families including medical and dental plan; 401k plan including company matching; firm funded life and disability insurance.

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Make your next move an expert one and join us as we lead the industry into the future.

Direct applicants only please, no agencies.

Colliers provides equal employment opportunity to all persons. No employee or applicant for employment will be discriminated against because of race, creed, origin, marital status, sexual orientation, age, otherwise qualified disabled or veteran status or any other characteristic protected by law. If you are a qualified applicant who requires reasonable accommodation to complete a job application, pre-employment testing, a job interview or to otherwise participate in the hiring process, please contact accommodations@colliers.com