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Underwriter - FHA (MAP) Underwriter)

Employer
BGC Partners
Location
Bethesda, MD
Closing date
Oct 10, 2022

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Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.9 billion for the year ending December 31, 2021. Newmark's company-owned offices, together with its business partners, operate from approximately 160 offices with over 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.JOB DESCRIPTION This individual will work with a team of highly motivated FHA mortgage banking professionals in a fast-paced, highly specialized, real estate finance operation. The employee will principally be responsible the preparation of the MAP Underwriting submission. This includes the analyzing operating statements for multifamily or health care facility loan transactions, critically evaluating appraisals, market studies, project capital need assessments, interviewing prospective borrowers to obtain critical property, management, and borrower details for each transaction, prepare loan application requests for RMC FHA Loan Committee and FHA, as well as interacting with FHA representatives regarding loan transaction terms. Essential Duties & Responsibilities Maintain an expert understanding of FHA and internal policies and procedures as outlined in the Company FHA Policy and Procedure Manual, FHA MAP Guide, and other applicable references. Work independently to evaluate appraisals, market studies, project capital needs assessments, project/personal financial statements, credit reports, insurance policies and any other documents needed to develop sound underwriting conclusions. Work independently to ensure the required correction of technical reports if needed, develop required underwriting documents, conclusions, and forms; successfully address, mitigate identified issues, and ensure the preparation of complete and programmatically compliant FHA loan applications. Analyze the creditworthiness of the sponsorship and the real estate and provide concise risks and mitigates/recommendations to Chief Underwriter and Loan Committee Review. Interface with clients and other project participants to obtain necessary documentation. Understand physical characteristics of commercial real estate properties, assessing the related competitive advantages and disadvantages and applying to the subject underwriting. Complete site visits on transactions assigned (travel required). Ensure final underwriting is documented accurately and files are complete, orderly, and accurate. Generally, assist the Closing and Delivery Team with the needed resolution of identified firm commitment conditions, the provision of draft settlement statements and revised documents/forms required for closings, funding, and security deliveries. Ensure that accurate and complete FHA underwriting, closing and expense files/records are properly organized and maintained for all assigned transactions. Keep RMC Team Leaders and Originators informed of project specific progress and issues on a proactive basis to facilitate the smooth execution of engaged transactions. Develop strong business relationships with HUD production staff to expand their confidence in RMC staff capabilities. In this regard, the individual will take the lead in FHA communications and/or resolving programmatic issues with HUD staff for assigned transactions. Assist in origination efforts as needed by evaluating provided project information and preparing preliminary loan analyses for use by RMC Bankers. Assist in the training and mentoring of junior staff members. Assist in the development of needed FHA business protocols and actively participate in on-going training for Company staff on FHA processing/underwriting. Work professionally and harmoniously with team and coworkers. Other projects and duties as assigned. Contacts This position has frequent contact with all levels of employees and management. In addition, this role may interact with outside business partners, vendors, consultants, and other office visitors. Education, Skills & Experience Bachelor's degree required with Finance or Accounting concentration a preferred; OR at least 5 years' previous work experience with analyzing/ underwriting loans in a commercial real estate lending environment. MBA or advanced degree preferred. MAP credentialed underwriter and/or two-three years direct experience with FHA multifamily/affordable underwriting Experience with Conduit, Life Company, Fannie Mae, or Freddie Mac programs a plus Proficiency in Microsoft Office and list other relevant systems or software Excellent organizational, communication, presentation, and interpersonal skills Ability to plan, organize, and prioritize assignments, and to meet critical and established deadlines; Ability to manage multiple assignments ant transactions simultaneously. Demonstrated ability to maintain confidentiality and to use discretion in the performance of daily activities. Professional business image and excellent command of the English language, both verbally and in writing (spelling, grammar, and punctuation) Ability to learn quickly and demonstrated ability to work independently and as part of a high-performance team. Flexibility and ability to work under pressure with tight deadlines and constant interruptions; Ability to adjust priorities in a changing environment.

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