Unclassified - Kensington, MD
posted 5 months ago
The Senior Multifamily Underwriter is a professional supervisory position responsible for the review and underwriting of multifamily real estate transactions presented for financing. The primary goals of this role are to increase the availability of housing for low- to moderate-income families by utilizing a variety of financing and subsidy sources, and to generate revenue for the organization, contributing to the growth of the multifamily bond portfolio. This position is crucial within the Mortgage Finance Division, focusing on the origination, processing, and closing of mixed-income and affordable multifamily real estate loan transactions. In this role, the Senior Multifamily Underwriter receives loan applications from both non-profit and for-profit organizations, including HOC's Real Estate Division, and assists in structuring the multifamily financing. Responsibilities include proforma preparation and feasibility assessment, reviewing development proposals, third-party reports, and borrower documents, developing written Financing Plans, and presenting these plans to the Commission. The position also involves bond and loan closing management and execution. The Senior Multifamily Underwriter applies knowledge of the principles, practices, and policies of HOC's Multifamily Program Guide and the Commission's lending practices to various loan applications. Proficiency in the application of rules and regulations pertaining to tax-exempt mortgage revenue bonds, the Federal Low-Income Housing Tax Credit Program, and other state and county housing programs is essential. The employee is expected to manage and control most aspects of the work, providing regular status reports to the supervisor, and will occasionally visit rental developments or potential sites. Sound judgment in managing and scheduling the workload is crucial, as is the ability to assist in overall development process management, which includes interaction with clients, public officials, and participating financial institutions. The individual must be capable of presenting discussions and recommendations both orally and in writing. Additionally, a thorough understanding of procurement rules, particularly HOC's Procurement Policy, is necessary for executing the responsibilities of this position.