Flexibility.Creativity.Focus.M&T Realty Capital Corporation
is a full-service mortgage banking company that specializes in providing competitive financing nationwide for commercial properties, including multifamily, healthcare facilities, office, industrial, retail, and student, seniors, and military housing. We are a wholly-owned subsidiary of M&T Bank—one of the 20 largest US headquartered commercial bank holding companies—and offer the following financing options:
Top Ten HUD Lender * Top Five Fannie Mae Green Lender * Top Five Fannie Mae Seniors LenderOverview:
- Fannie Mae DUS
- Freddie Mac Optigo
- FHA/HUD Healthcare
- FHA/HUD Multifamily
- Life insurance company
- Conduit (CMBS)
- Small Loan program
Responsible for due diligence and direct underwriting of FHA and/or HUD programs. Position Responsibilities:
Scope of 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 (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.
- 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 audit points together with any issues raised by external regulators as applicable.
- Complete other related duties as assigned.
- Underwriters are required to use analytical skills to review rent roll, operating statements, financial statements, third party reports (real estate appraisals, market studies, physical needs reports and environmental reports) to make credit judgments and prepare the required application submissions to the appropriate agency.
- Position requires a high level of detail and desire/ability to serve as mentor to others on the team, as experience is gained.
Supervisory/ Managerial Responsibilities:
Indirect management/mentor of Junior FHA underwriters assigned to the transaction. Minimum Qualifications:
- Bachelor's Degree or equivalent work experience and 7 years underwriting experience or related experience to include completion of multifamily inspection training (or similar work experience and credit training) or in lieu of a degree a combined minimum of 11 years' higher education and/or work experience including a minimum of 7 years underwriting or related experience to include completion of multifamily inspection training (or similar work experience and credit training)
- MAP and/or Healthcare designations plus 232/LEAN certification
- Teamwork and strong communication skills.
- Strong Excel and modeling ability
- Travel will be required to inspect properties and attend necessary training, when available.
- Competitive salary + bonus
- FT work remote option
- Conferences and continuing education
- Medical/Dental/Prescription/Vision/Life Insurance
- Long & Short-Term Disability at no cost
- PTO + 11 paid holidays/PTO buy
- Health Savings & Flexible Spending Accounts
- 401(k) with 5% match/Roth/Discretionary Employer Contribution
- Stock Purchase Plan
- Diversity & Inclusion Council
- 14 Resource Group charters with 69 chapters
- D&I Sponsorship Program
- Wellness Programs
- Employee Discounts
- Dress for your day!
Baltimore, Maryland, United States of America