GSE Underwriting Analyst

Merchants Bank of Indiana - Washington, DC

Full-time - Entry Level

Washington, DC

Credit Intermediation and Related Activities

About the position

Our GSE Underwriting Analyst plays a critical role in the underwriting of GSE loans. The Underwriting Analyst will help analyze proposed transactions, prepare formal recommendations, and assist in the closing and delivery of approved loans to necessary constituents. A candidate with the desire to learn and grow will have the opportunity to advance within the team and company overall. The position's primary focus will be on Fannie Mae and Freddie Mac loans originated by Merchants Capital, but the responsibilities could also include working with Bank or HUD products.

Responsibilities

• Work with Underwriter(s) and perform due diligence for multifamily products and transactions.
• Input income and expense statements in order to determine maximum loan amounts.
• Conduct initial reviews of market areas, property and site characteristics.
• Complete initial review of borrower and management qualifications.
• Learn methodology for building up proforma income & expenses.
• Learning FNMA and FRE DUS Guide underwriting requirements along with reviewing any lender updates on an ongoing basis.
• Conduct site visits to assess the condition and quality of multifamily projects, their management, and the market.
• Order and complete preliminary review of third-party reports including appraisals, engineering, seismic, Phase I environmental assessments, and operations & maintenance (O&M) plans.
• Maintain organized and fully documented underwriting files and managing underwriting checklists.
• Assist in crafting the DUS narratives/final loan packages for committee review.
• Communicate closely with the Underwriting team, Production, Closing, Insurance and others as appropriate to problem-solve deal issues.
• Assist in completing underwriting deliverables as part of the closing and submission of the loan to the investor.

Requirements

• Bachelor's degree (Business or Finance degree preferred).
• Previous experience within the real estate industry preferred.
• Demonstrated analytical skills with the ability to evaluate data quickly and take action to assist the team in moving transactions forward.
• Excellent interpersonal and presentation skills with strong work ethic to meet the daily challenges of a fast-paced environment.
• Demonstrated ability to develop and execute solutions to complex issues and transactions.
• Requires critical thinking skills and multitasking.
• Ability to show ownership of your work, take on challenges, and demonstrate patience when learning new processes.