Full Job Description
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:
Fannie Mae DUS®
Freddie Mac Optigo®
Life insurance company
Small Loan program
Top Ten HUD Lender * Top Five Fannie Mae Green Lender * Top Five Fannie Mae Seniors Lender
Responsible for due diligence and direct underwriting of FHA and/or HUD programs.
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.
Scope of Responsibilities:
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.
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
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
Dress for your day!
Baltimore, Maryland, United States of America