What are the responsibilities and job description for the Underwriting Analyst position at Arbor Realty?
Job Purpose
The Underwriting Analyst will be responsible for assisting the Underwriter/Senior Underwriter with the Underwriting of loans under various Agency (Fannie Mae & Freddie Mac) financing programs.
Essential Job Functions (Duties/Responsibilities)
The Underwriting Analyst will have the following duties and responsibilities, including but not limited to:
- Collect, package, review and reconcile loan application documents including financial/credit exhibits under various underwriting programs
- Order and perform the preliminary review of all third party reports (appraisal, inspection and environmental) for compliance with guidelines
- Underwrite Multifamily Loans in accordance with (GSE) Fannie Mae and (GSE) Freddie Mac Agency guidelines and requirements, while adhering to established timelines
- Prepare thorough Underwriting Narrative and Loan Calculation Worksheet for presentation to Arbor’s Loan Committee to evaluate creditworthiness
- Collect, analyze, and approve all required due diligence for Multifamily loans specific to either Fannie Mae or Freddie Mac
- Formulate Net Operating Income in accordance with GSE Guidelines using sponsor submitted operating data and appraisal proforma data
- Review and analysis of loan application documents including:
- Financial/credit exhibits
- Review of all third party technical reports for Underwriting
- Liaise with Arbor’s upper management and Origination staff, along with and GSE Representatives as necessary
- Assist the underwriter in Preparing and presenting comprehensive loan approval package to credit committee
- Perform property and market inspections to evaluate property conditions and market/submarket dynamics
Qualifications
Education: Bachelor’s degree in Finance, Economics or a related discipline and have a familiarity with the terms and concepts of real estate finance.
Experience: Minimum of one year experience with multifamily loan processing, analysis and/or underwriting experience
Knowledge/Skills/Abilities:
- Experience in the real estate or mortgage banking/finance industry
- Ability to problem-solve and exercise independent judgment while displaying a high degree of initiative and accuracy
- Demonstrated ability to organize & prioritize projects; complete multiple tasks on schedule
- Hard working, a quick study, detail oriented and have the ability to work alone as well as with others to reach a common goal
- Proficient in Microsoft Office, especially in Excel and Word
- Strong work ethic and pro-active team player able to work effectively in a fast-paced environment
- Possess excellent analytical, communication, organizational and multi-tasking skills
- Must be able to mentor and train junior staff