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Merchants Capital · 1 week ago

Underwriter, GSE

Washington, DC

Full-time

Onsite

Mid Level

3+ years exp

Merchants Capital is a proven leader in financing for multifamily housing nationwide. The Underwriter is responsible for the timely and accurate underwriting of multifamily mortgage loan transactions, ensuring adherence to Agency and Bank guidelines while collaborating with various internal and external stakeholders.

Customer ServiceFinanceFinancial Services

Responsibilities

Underwrite multifamily Agency loans originated by Merchants Capital

Manage underwriting process for new loans from origination to closing

Adhere to Agency loan requirements, reviewing updates on an ongoing basis, to stay current on changes made by respective Agencies and/or Merchants

Perform site inspections of underwritten assets

Manage third party vendors and evaluate third party reports including appraisal reports, engineering reports, environmental reports, zoning reports, flood certifications, preliminary title, etc

Coordinate and manage communication with internal Merchants staff including the Review Underwriter, originations and closings team; Agency; third party vendors, including but not limited to, the appraiser, engineer and environmental consultant; Merchants legal counsel; insurance consultant; borrower and any others that are pertinent to the success of the transaction

Evaluate Borrower financial statements, bank statements, credit reports, legal searches, real estate owned (REO) schedules, resumes, etc., and determine any potential credit risks

Together with other members of the team, generate a Due Diligence checklist along with monitoring receipt of and processing due diligence as it is received. Review files for completeness and identify critical missing information

Analyze historical operating statements, rent rolls, market characteristics, etc., and complete the underwriting loan submission template

Alert appropriate persons to potential deal issues as soon as they arise

Prepare the loan package for evaluation and approval by Merchants Credit Committee and Agency Lenders

Collaborate closely with the Underwriting Team Lead, origination, and closing teams to align on underwriting approach, open issues, and next steps throughout the transaction lifecycle

Maintain clear, accurate, and up-to-date documentation of underwriting analysis, assumptions, and deal status to ensure transparency, continuity, and alignment across a distributed team environment

Follow established review and escalation protocols, including aligning with the Underwriting Team Lead before advancing workstreams or communicating material credit positions

Communicate underwriting conclusions, deal status, and approvals clearly and consistently with internal teams and external partners

Perform other related duties as assigned

Qualification

Multifamily loan underwritingFannie Mae knowledgeFreddie Mac knowledgeAgency lending guidelinesAnalytical skillsMicrosoft ExcelMultitaskingMicrosoft WordMicrosoft PowerPointAdobeProblem solving skillsOrganizational skillsTeamworkCommunication skillsLeadership skillsCritical thinking