Purpose and Job Summary
The candidate will underwrite Fannie Mae Freddie Mac multifamily loan applications within Lument. Specifically, the candidate will: i) have primary responsibility for the underwriting and submissions and credit recommendations; and ii) prepare credit request presentations for Fannie Mae and Freddie Mac, loan committee and participate in the approval process for all loan applications.
Essential Duties & Responsibilities
- Possess and apply a thorough knowledge of Lument programs and requirements, and specifically Lument policies and procedures.
- Primary responsibility for transactions assigned; keep transaction team informed of project specific progress and issues on a proactive basis to facilitate smooth executions.
- Ensure programmatic requirements are met for each loan application (Fannie Mae and Freddie Mac, 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.
- Supervise team activities (Underwriting Analyst and Closer) to insure effective and efficient processing, underwriting, closing and delivery of loans assigned.
- Assist Chief Underwriter in training and evaluating team as required.
- Review all due diligence material provided for transaction; quickly and accurately analyze and underwrite such data and identify key underwriting issues and potential transaction risks.
- Critically review, evaluate, and approval 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 to assure that such underwriting is properly documented.
- Identify and prepare all program waivers/exceptions and other documentation for Fannie Mae/Freddie Mac or other mortgage and finance programs, as required.
- Ensure final underwriting is documented accurately and files are complete, accurate, and comply with Lument’s loan file policy.
Contacts
This position has frequent contact with all levels of employees, management, borrowers and other third parties.
Education, Skills, & Experience
- Bachelor’s degree required; Finance or Accounting concentration a plus
- 1-3years previous experience in analyzing/underwriting real estate loans required.
- Direct experience with Freddie Mac and Fannie Mae multifamily underwriting is preferable.
- Experience with Conduit, Life Company or FHA programs a plus.
- Ability to work well under pressure and adjust to varied workloads.
- Excellent communication and organizational skills are required.
- Knowledge of Microsoft Office (Excel, Word, Outlook, Access, PowerPoint).
- Position requires ability to travel
- Requires an independent worker with good project management knowledge and ability to adjust to ever changing environment.
Annual base salary gross: $90,000 - $110,000 (NY only). The base salary range represents the estimated low and high end of the ORIX USA’s salary for this position. Actual base salaries will vary and will be based on various factors, such as candidate’s qualifications, skills, competencies and proficiency for the role. The base pay is one component of ORIX USA’s total compensation package for employees. Other rewards and benefits include cash bonuses, long term incentives, health insurance, accident and life insurance, and retirement benefits. Please visit our Benefits page for additional information.
Life at ORIX
We are committed to the health and well-being of our employees and offer a quality, competitive benefits package that provides valuable healthcare and financial protection for our workforce, while emphasizing a healthy work/life balance.
You Time
We want you to have the time needed to recharge and manage life with our competitive vacation policy, floating personal holidays, extensive leave options, our annual observed holidays, and more.
Family Care
Every family has a different journey and ORIX USA Group is proud to offer extensive benefit programs such as: infertility coverage, adoption support, child and elder care, fully paid maternity, and generous parental leave benefits to help you and your families along the way.
Flexible Work Arrangements
ORIX associates enjoy the advantages of our hybrid working model with a 3 day in-office minimum requirement.
ORIX USA is an equal opportunity employer, providing equal employment opportunities (EEO), and is committed to diversifying its workforce. All employees and applicants for employment will receive consideration for employment without regard to race, color, religion, sex, national origin, age, disability, genetics, sexual orientation, gender identity or expression, pregnancy, protected veteran status or other status protected by law. This policy applies to all terms and conditions of employment.
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