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Job Description
As Chief Underwriter, Multifamily, this leader will direct and manage the strategic credit decision-making process for Multifamily, including managing originations up to $73B. This leader will report directly to the SVP, Chief Credit Officer for Multifamily and will oversee a staff of approximately 60 underwriters.
Key Responsibilities:
- Manage the credit decision-making process on all acquisition transactions for the Multifamily business. which includes loans in the following areas: Conventional, Seniors Housing, Student Housing, Manufactured Housing, Affordable Housing and Structured products Credit Underwriting (CU) Teams
- Ensure standards for credit quality are met on all incoming transactions, approving and documenting variations to credit standards as necessary.
- In partnership with Customer Engagement and in collaboration with MF Underwriting team, develop, build, and present acquisition strategy including appropriate credit parameters.
- Set measurable goals for team members and ensure they have the resources needed to achieve them.
- Present transactions of significant size to various management groups and committees.
- Develop AI strategy for Multifamily Underwriting, including building a long-term road map and resource plan.
- Partner with Asset Management to ensure appropriate information flow from the acquisition through the full life of the loan, including for performing and non-performing loans.
- Develop policies, credit guidance, and methodologies with the SVP, Chief Credit Officer; and ensure incoming book of business conforms to corporate risk tolerance parameters and limits.
- Engage with Research and Analytics to guide the development of risk measures, coordinate risk research and analyses.
- Work with Corporate Risk and Compliance to develop risk policies, standards and guidelines. Perform quarterly reviews and update of Multifamily DUS Guide and Underwriting Standards.
- Partner with Product Development to assess and implement updates as needed monitor their impact on MMB book of business.
- Communicate priorities and risk considerations to relevant stakeholders including DUS Lenders, FHFA and internal risk partners.
Candidate Qualifications:
- Atleast 15 years’ demonstrable experience in underwriting multifamily loans, ideally with a focus on affordable housing and/or structured facilities.
- A minimum of 10 years of leadership experience; a passion for and commitment to talent development and overall people leadership.
- Ideally experience interfacing with the GSEs and/or working at a Regional Commercial Bank, Debt Fund, Large Institutional Commercial Real Estate Owner/Operator or Delegated Underwriting and Servicing (DUS) Lender
- Proven risk management acumen and ideally a background working in a highly regulated environment and/or working with a regulator as a stakeholder.
- Strong executive communication and influencing skills; a proven track record of building both internal and external relationships.
- Strong analytics acumen; proven understanding of how to utilize metrics and data and ideally experience working with analytics and modeling to create solutions to visualize data around the portfolio and risk trends (using tools like Tableau, MS Excel, MS PowerPoint and others).
- Operational Excellence mindset; proven experience improving operations and finding efficiencies.
- Bachelor's degree required, preferably in Business Administration or a related field.
- Master's degree preferred, preferably in in Real Estate Finance/Development, Urban Planning / Policy, Affordable Housing, Community Development, Business, Operations, Finance, or a related field.
Target Pay Range: $252,000-341,000
Qualifications
Education:
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For most roles, employees are expected to work onsite on a regular basis at their designated office location. In-office work cadence is determined by your manager. Proximity within a reasonable commute to your designated office location is preferred unless the job is noted as open to remote.
Fannie Mae is an equal opportunity employer and considers qualified applicants for employment without regard to race, color, religion, sex, national origin, disability, age, sexual orientation, gender identity/gender expression, marital or parental status, or any other protected factor. Fannie Mae is committed to providing reasonable accommodations to qualified individuals with disabilities who are employees or applicants for employment, unless to do so would cause undue hardship to the company. If you need assistance using our online system and/or you need a reasonable accommodation related to the hiring/application process, please complete this form.
The hiring range for this role is set forth below. Final salaries will generally vary within that range based on factors that include but are not limited to, skill set, depth of experience, certifications, and other relevant qualifications. This position is eligible to participate in a Fannie Mae incentive program (subject to the terms of the program). As part of our comprehensive benefits package, Fannie Mae offers a broad range of Health, Life, Voluntary Lifestyle, and other benefits and perks that enhance an employee's physical, mental, emotional, and financial well-being. See more here.