Truist Grandbridge Agency Underwriter in Frisco, Texas
Req ID: R0035911
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Regular or Temporary:
Language Fluency: English (Required)
1st shift (United States of America)
Please review the following job description:
Provide high level multifamily commercial real estate mortgage loan and borrower credit analysis including loan sizing, loan structuring, loan underwriting and recommendations to the Credit Risk Management team. Complete all of the underwriting and due diligence and make a final recommendation to the DCU regarding final deal terms and structure. The Underwriter will be proficient with Fannie Mae and Freddie Mac (“Agencies”) Guide and Underwriting requirements as well as both Conventional and Affordable Lending Platforms.
Essential Duties and Responsibilities:
Provide high level analytical support in the preparation of submissions and documents.Analyze complex multifamily transactions and financial situations providing well-founded advice as to alternate courses of action and/or creative financing solutions to help customers achieve their financing objectives while maintaining the high credit standards of Grandbridge.Obtain, understand and analyze data needed to prepare mortgage loan submissions from property owners, borrowers, lenders and third party sources. Included may be leases, sales contracts, income and expense statements, surveys, property income and expense statements, borrower financial statements, articles of incorporation, partnership agreements, deeds, easements, environmental reports, property condition reports, appraisals, title policies, deeds of trust, notes, mortgage loan commitments, lender checklists, lender loan program requirements, real estate market surveys, comparable sales, overall capitalization rates, vacancy rates, tax abatements, HAP contracts, and any supporting affordable due diligence.Attend real estate industry trade functions, providing strong representation of Grandbridge Inspect properties making notes and maps as to the physical and economic conditions of the property, its immediate area, its neighborhood, its city, as well as comparable properties. Interview owners, tenants, third party report providers, requesting and obtaining information from them as needed.Analyze rent rolls, historical income and expense characteristics and market data to derive an estimate of Net Operating Income for a commercial real estate property. Included is the ability to analyze the Net Operating Income with respect to normal market income levels, stabilized vacancy rates, normalized expenses, lender’s specific requirements or lender’s appraisal standards. Analyze the borrower’s legal structure and financial statements with regard to normal market parameters and the lender’s requirements. More specifically, perform thorough credit and financial analysis of Borrower Entities, Key Principals, and Principals.Analyze the characteristics of the real estate with respect to industry norms and specific lender requirements.Prepare preliminary, full underwriting and final mortgage loan submissions in concert with the originating producer using Microsoft Word and Excel consistent with Fannie Mae and internal guidelines.Understand specific Agency Underwriting Guides and is up to date on recent trends.Understand the physical aspects of multifamily properties, typical real estate lending parameters, interest rate structures, and tests of reasonableness.Order, review and approve all third party reports including property appraisals, physical needs assessments, and environmental reports.Ensure credit risk issues are appropriately mitigated and significant issues discussed as appropriate with the Deputy Chief Underwriter.Assure all information reflected in underwriter’s narrative is accurate, that material factors (strengths, weaknesses and mitigants) affecting the transaction are adequately discussed and that all credit decisions made in the underwriting of the loan are supported. Such determinations take into consideration the stability of the NOI, loan structure, property condition, rental market, project history, credit worthiness of the borrower, key principals, principals and sponsors and the overall expectations for refinancing the project at the end of the loan.Review and stay abreast of the Agency guide changes and pricing changes.Assist the Deputy Chief Underwriter in finalizing all underwriting aspects of the final loan delivery package to Fannie Mae.
Required Skills or Competencies:
Bachelor’s degree in business or related field or equivalent education and related experience
Two years of experience in multifamily lending with a strong preference for demonstrated knowledge and experience in specialized programs such as Fannie Mae DUS and Freddie Mac Optigo
Demonstrates strong technical skills in underwriting, structuring, pricing and closing complex multifamily deals
Ability to read, analyze and interpret complex documents and financial statements
Consistently exercises prudent judgment related to credit analysis and real estate risks
Proficient level of computer skills, including strong abilities with Microsoft products such as Excel, Word, PowerPoint, etc. and their related applications
Possess a high attention to detail
Ability to meet deadlines
Possess the maturity and self-confidence to simultaneously handle a variety of assignments
Able to consistently demonstrate initiative with nominal direction
Excellent written and verbal communication skills
Ability to travel, occasionally overnight
Truist supports a diverse workforce and is an Equal Opportunity Employer who does not discriminate against individuals on the basis of race, gender, color, religion, national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law. Drug Free Workplace.
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