Deputy Chief Underwriter

Job Description

Position Summary

Reporting to the Chief Credit Officer, the Deputy Chief Underwriter is responsible supervising and providing QC for the timely preparation and delivery of loan analyses and narratives to ensure consistency with Fannie and Freddie requirements including:  Summary of historical property operations, reviewing physical site inspection results, reviewing credit and financial analysis of key sponsors, reviewing and approving third party report results including property appraisals, physical needs assessments, and environmental reports.

Essential Job Functions

• Manages and provides leadership to the regional underwriting team.
• Responsible for DUS credit approval of quality decisions for transactions as delegated by the Chief Credit Officer.
• Oversees front end screening of transactions within region.
• Assess transaction risk, provide risk mitigation strategies, and deal structuring recommendations.
• Works collaboratively with the origination platform to problem solve and develop creative transaction structuring solutions delivering best-in-class execution.
• Interfaces directly with the borrowers and external clients when necessary.
• Reviews and submits waivers and Pre-review submissions to Fannie Mae.
• Provides ultimate recommendations for investment decisions to Credit when not delegated.
• Provides guidance and assistance on agency loan assumptions as needed. Participate in ad hoc internal committees. 
• Prioritizes work assignments within the underwriting and screening teams.
• Develops, interfaces and maintains strong relationships with Fannie Mae and Freddie Mac credit counterparts.
• Directly hires, trains, conducts reviews, performance management, mentor, actively supervise and develop talent within the regional underwriting team.
• Initiates and facilitates process enhancement concepts and ideas.
• Manages underwriting and screening assignments and track regional pipeline within timing benchmarks.
• Performs other duties and projects as assigned.

Education

Bachelor degree from an accredited college or university with a focus in Finance, Business or Real Estate or related field required. Advanced degree desirable.

Experience and Qualifications

• Minimum of seven to ten years of multifamily agency underwriting experience specifically in Fannie Mae DUS experience. Minimum of four years’ experience in a Senior Underwriting position.
• Thorough understanding of underwriting for multi-family refinance/acquisition programs
• Strong analytical abilities to grasp complex transactional issues and assess risk.
• Strong analytical, organizational, communication and multi-tasking skills are necessary.
• Ability to read, analyze and interpret complex documents and provide succinct credit decisions with the necessary support for those decisions.
• Ability to respond effectively to the most sensitive inquiries or complaints. Ability to succinctly and accurately present information and respond to questions from borrowers, employees, and executive level management.
• Strong communication skills, interpersonal skills and writing ability.
• Proficiency with Excel and Word.
• High level of personal accountability.   
• Must be detail oriented and possess good verbal and written communication skills.  

Other Skills

Requires a self-motivated, team player who pays close attention to detail and must be able to adapt to a fast-paced environment, multi task and is highly organized.  Ability to succinctly and accurately present information and respond to questions from borrowers, employees, and executive level management.  Results-oriented with strong project management and execution skills.  Strong interpersonal, communication and customer service skills with ability to sustain strong relationships with clients, peers, and business partners.  Balance skills and talents of staff with the needs of Mortgage Banking.  Must be able to prioritize and delegate.