RCC Senior Underwriter II

Responsible for due diligence and direct underwriting of multifamily transactions under the Fannie Mae, Freddie Mac, FHA and/or HUD programs. In addition, the UW is responsible for coordinating all aspects of the loan from the time the loan is assigned to the Underwriter to closing and after to ensure all data points are consistent and correct to be prepared for a successful post closing audit. Underwriter needs to be flexible to pivot quickly to incorporate new procedures and software systems.  

Position Responsibilities:

• Analyze and manage the multifamily underwriting process ensuring loans are underwritten in accordance with appropriate investor guidelines and commitments are issued in a timely manner.
• Responsible for accurate loan sizing and overall risk assessment prior to/or after application utilizing specific investor underwriting guidelines and requirements.
• Interview prospective borrowers and property managers to obtain critical property, management, and borrower details for each transaction.
• Responsible for reviewing subordinate debt documents and regulatory agreements in accordance to the program requirements.  
• Work with originators to determine most appropriate deal structure for transactions and resolve outstanding issues.
• Interact with respective Investor Representatives (Fannie Mae, Freddie Mac, Life, HUD, etc) regarding loan transaction terms and waivers.
• Inspect property in accordance with Investor guidelines (travel required-national).
• Obtain and review all third party reports associated with each transaction as required by specific investor.
• Completion of underwriting narrative/committee package.
• Work closely with the processing team to monitor the status of the submission and communicate with the deal team and customer to ensure transactions are submitted in a timely manner. 
• Review of commitment letter and handoff to loan closing department.
• Stay current new or revised legislation and regulations that may impact established policies.
• (Affordable Housing Specific):
• Work with the Director of Affordable Underwriting and assisting other non-affordable parties with specific qualifications.
• Coordinate with construction lenders, equity providers, and bond underwriters depending on the product type.
• Work with loan analysists in sizing transactions prior to transactions going under application.
• Addressing post-closing follow-up requests from asset management or rating agencies and potential buyers of the security during the securitization process (Freddie Mac). 
• Mentor junior underwriters assigned to transaction.
• Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite. Identify risk-related issues needing escalation to management. 
• Promote an environment that supports diversity and reflects the M&T Bank brand.
• Maintain M&T internal control standards, including timely implementation of internal and external …