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Lead Commercial Real Estate Underwriter - Affordable Housing

Employer
Wells Fargo
Location
Bethesda, MD
Closing date
Jan 27, 2022

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About this role:Wells Fargo is seeking a Lead Affordable Housing Underwriter within Multifamily Capital. In coordination with our relationship management and closing teams, this professional will be responsible for underwriting the largest and most complex affordable housing loan requests. In this role, you will:Building and maintaining strong relationship with various partners both throughout Multifamily Capital and, more broadly, the Wells Fargo Commercial Real Estate (CRE) business line as well as our GSE partnersPerforming property inspectionsAnalyzing credit of tenants and borrowersMaintaining a comprehensive knowledge and understanding of Freddie Mac and Fannie Mae underwriting guidelines and requirements, with specific focus on affordable housing programsCoordinating with the loan closing team throughout the negotiation processMaking recommendations to credit for prospective loansServing as a leader and industry expert on the team, sharing best practices and expertise with more junior team membersReviewing third party reports including appraisals, environmental reports (phase I and II), and engineering reportsWorking closely with Community Lending and Investment (CLI) on transactions wherein the groups partnerWorking closely with WF Construction Monitoring group to process and close loans on rehabilitations and new constructionCollaborate and consult with Commercial Real Estate Underwriting peers, colleagues, and mid level to more experienced managers to resolve issues and achieve goals Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements. Required Qualifications:5+ years of Commercial Real Estate Underwriting experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, educationDesired Qualifications:Advanced commercial real estate industry experienceExtensive knowledge and understanding of underwriting multifamily transactionsExperience underwriting Fannie Mae and Freddie Mac multifamily affordable loans preferredProficient in Microsoft excelLeadership skillsStrong analytical skills with high attention to detail and accuracyExcellent verbal, written, and interpersonal communication skillsAbility to interact with all levels of an organizationAbility to work effectively, as well as independently, in a team environmentA BS/BA degree or higherJob Expectations:Ability to travel as neededAbility to work additional hours as needed **Due to a city-wide mandate in New York City, all individuals who perform in-person work or interact with the public during business must be fully vaccinated against COVID-19. At this time, this position falls under the scope of this mandate. ** We Value Diversity At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law. Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements. Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, or national origin. Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.

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