Senior Multifamily Underwriter

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Job Code: PD21-24
Posted On: Wednesday, 24th March 2021
Department: Mortgage Finance
Location: Main Office
Kensington, Md
10400 Detrick Avenue
Pay Rate: Grade: 28 Minimum $71,906

Job Description:

The Senior Multifamily Underwriter is a professional position responsible for the review and underwriting of multifamily finance transactions to: 1) increase the availability of housing for low to moderate income families by using a variety of financing and subsidy sources; and, 2) to generate revenue for the organization, which adds to the growth of the multifamily bond portfolio. This is a key position in the Mortgage Finance Division with focus on the origination, processing and closing of mixed-income and affordable multifamily real estate loan transactions. An employee in this position receives loan applications from non-profit and for profit organizations, including HOC’s Real Estate Division, and assists in the structuring of the multifamily financing. Activities are preparatory to financial commitments and the issuance of taxable and/or tax-exempt bonds or other forms of financing. The responsibilities of this position include, but are not limited to pro forma preparation and feasibility assessment; review of development proposals, third-party reports, and borrower documents; developing written Financing Plans and presenting said plan to the Commission; and, bond and loan closing management and execution. Experience in the principles and practices of financing multifamily real estate is required. Extensive knowledge of and experience with HUD/FHA multifamily financing programs and other housing finance programs (i.e. Fannie Mae) is necessary. An employee in this class applies knowledge of the principles, practices, and policies of HOC’s Multifamily Program Guide and the Commission’s lending practices to varied loan applications. The employee must be proficient in the application of rules and regulations pertaining to tax-exempt mortgage revenue bonds, the Federal Low-Income Housing Tax Credit Program, as well as other state and county housing programs. The employee plans, organizes and controls most aspects of the work, providing regular status reports to the supervisor. The employee will work in an office and occasionally visit rental developments or potential sites. The employee is expected to exercise sound and efficient judgment in the management and scheduling of the workload. The individual will assist in overall development process management, including involvement with clients, public officials, and participating financial institutions and must be able to present discussions and recommendations orally and in writing.

Preferred Skills:

∙ Requires Bachelor’s degree in a related area.

∙ Requires 10 years of increasingly responsible experience in real estate finance, development, and investment. Said experience shall include working with transactions that include affordable and market rate housing and mixed-use development.

∙ A combination of education and professional experience will be considered.

. Extensive knowledge of and experience with processing and closing multifamily financing transactions that include HUD/FHA multifamily mortgage insurance (i.e. FHA Risk Share, HUD 221(d)(4), HUD 223(f)), Federal Low Income Housing Tax Credits (LIHTC), and other multifamily housing finance programs is necessary.

∙ Previous experience working with a Housing Finance Agency and/or Public Housing Authority preferred.

∙ Superior financial and analytical skills necessary.

∙ Ability to manage multiple tasks, transactions and meet deadlines.

∙ Strong written and verbal communication skills required.

∙ Ability to make presentations to a varied audience.

∙ Valid Driver’s License and Vehicle are required.