Fannie Mae

Multifamily Risk Underwriter - Advisor

Fannie Mae$141K — $184K *
Finance & Insurance
5 - 7 years of experience
Job Overview by Ladders

Qualifications

  • 6+ years of multifamily commercial real estate underwriting experience.
  • In-depth knowledge of multifamily agency lending processes.
  • Proven ability to manage loan transactions from underwriting to credit recommendation.
  • Experience in analyzing borrower financials and property operations.
  • Strong grasp of multifamily lending principles and risk assessment techniques.

Responsibilities

  • Lead end-to-end underwriting of complex multifamily mortgages.
  • Evaluate loan applications for creditworthiness and compliance.
  • Conduct forensic underwriting reviews to identify risks and deficiencies.
  • Analyze financial statements, market conditions, and third-party due diligence reports.
  • Identify credit risk trends and recommend mitigation strategies.
  • Collaborate with internal teams to resolve underwriting issues.
  • Present underwriting analyses to senior leadership.

Benefits

  • Comprehensive health and life insurance offerings.
  • Voluntary lifestyle benefits to support well-being.
  • Access to an incentive program based on performance.
  • Opportunities for professional development and mentorship.
  • Flexible work environment with a hybrid model.
Full Job Description


Job Description

The Multifamily Risk Underwriter - Advisor role offers the opportunity to independently manage complex multifamily loan transactions from quote and underwriting through credit recommendation while providing expert guidance on risk assessment, forensic underwriting reviews, red flag identification and mitigation, and underwriting best practices. Working collaboratively across the organization and with lenders, you will help ensure sound credit decisions that support Fannie Mae's mission and protect the enterprise.

THE IMPACT YOU WILL MAKE

The Multifamily Risk Underwriter - Advisor role will offer you flexibility to make each day your own, while working alongside a dynamic and supportive team so that you can deliver on the following responsibilities:
  • Lead the end-to-end underwriting of complex multifamily mortgage transactions, including financial analysis, property valuation, market assessment, borrower analysis, and credit recommendation.
  • Evaluate loan applications and supporting documentation to determine creditworthiness, identify key risks, and ensure compliance with underwriting guidelines and credit policies.
  • Perform forensic underwriting reviews to identify underwriting or property deficiencies, potential fraud indicators, valuation concerns, and borrower or sponsor risks prior to loan acquisition.
  • Analyze borrower financial statements, property operating performance, rent rolls, appraisals, engineering reports, environmental reports, and other third-party due diligence.
  • Identify emerging credit risk trends and recommend strategies to mitigate enterprise risk and improve underwriting quality.
  • Partner with internal stakeholders, including Credit, Customer Engagement, Legal, Asset Management, and Risk teams, to resolve complex underwriting issues and facilitate informed lending decisions.
  • Present underwriting analyses and recommendations to credit decision-makers and senior leadership.
  • Recommend enhancements to underwriting standards, processes, and quality assurance practices to improve consistency and efficiency.
  • Serve as a subject matter expert and mentor by providing guidance on high-risk underwriting scenarios and best practices.


THE EXPERIENCE YOU BRING TO THE TEAM

Minimum Required Experience
  • 6+ years of multifamily commercial real estate underwriting experience, including full-cycle underwriting of complex multifamily mortgage transactions.
  • Knowledge of multifamily agency lending (Fannie Mae, Freddie Mac, FHA, CMBS, or bank portfolio lending).
  • Demonstrated experience independently managing loan transactions from initial underwriting through credit recommendation and closing support.
  • Experience analyzing borrower financials, property operations, market conditions, and third-party reports.
  • Strong understanding of multifamily lending principles, commercial real estate credit analysis, and risk assessment.


Desired Experience
  • Bachelor's degree or equivalent experience.
  • Experience performing forensic underwriting reviews.
  • Strong financial modeling and analytical skills.
  • Experience evaluating key credit metrics, including DSCR, LTV, debt yield, and leverage.
  • Advanced Microsoft Excel skills.
  • Excellent written and verbal communication skills with the ability to present complex analyses to diverse stakeholders.
  • Ability to travel and conduct full property inspections independently.
  • Strong critical thinking, problem-solving, and decision-making abilities.


Multifamily Risk - Underwriting - Advisor

#LI-NL1 - Hybrid

Qualifications

Education:
Bachelor's Level Degree (Required)

The future is what you make it to be. Discover compelling opportunities at Fanniemae.com/careers.

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.

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.

Requisition compensation:
141000
to
184000

About Fannie Mae

As the leading source of residential mortgage credit in the U.S. secondary market, Fannie Mae is supporting today's economic recovery and helping to build a sustainable housing finance system. They exist to provide reliable, large-scale access to affordable mortgage credit in all communities across the country at all times so people can buy, refinance, or rent homes. Fannie Mae is working to establish and implement industry standards‚ develop better tools to price and manage credit risk‚ build new infrastructure to ensure a liquid and efficient market and facilitate the collection and reporting of data for accurate financial reporting and improved risk management. Fannie Mae is committed to being their customers’ most valued business partner and delivering the products, services and tools their customers need to serve the entire market confidently, efficiently and profitably. Ultimately‚ Fannie Mae measures their progress not only by paying taxpayers and improving the housing finance system‚ but also by the difference they make in people’s lives.

Fannie Mae Careers

Join the vibrant team at Fannie Mae, where we are committed to solving the challenges of today's housing market while fostering inclusive growth and innovation. As a cornerstone of the American mortgage system, Fannie Mae offers unparalleled job opportunities that empower you to influence the future of housing finance. Work You’ll Do At Fannie Mae, you will collaborate with some of the brightest minds in the finance and technology sectors. Our mission is to ensure access to affordable housing for people across the United States, and your work here will contribute to that goal. With roles ranging from financial analysis to technology development, your career at Fannie Mae will be marked by growth, leadership, and the pursuit of excellence. Innovate and Lead Fannie Mae stands at the intersection of financial services and innovative technology solutions, making it an ideal place for those who are driven to explore new ideas and push boundaries. Our culture thrives on innovation and leadership, encouraging every team member to bring forward ideas that drive efficiency and effectiveness. Professional Growth and Development Career advancement at Fannie Mae is not just a possibility—it is an expectation. We are dedicated to the professional growth of our employees through robust training programs, leadership workshops, and continuous learning opportunities. Whether you are looking to sharpen your analytical skills, enhance your leadership capabilities, or dive deep into the housing market dynamics, Fannie Mae provides the resources to achieve your professional goals. Diversity and Inclusion At Fannie Mae, we believe that diversity fuels innovation. We are committed to fostering an inclusive environment where diverse voices are heard and valued. Through diversity training and a culture that celebrates unique perspectives, we ensure that all team members can contribute to their fullest potential. Join Our Team Explore the array of job opportunities at Fannie Mae, from internships for budding professionals to full-time positions for seasoned experts. We are hiring individuals who are passionate, curious, and eager to make a difference. Our team is looking for candidates who not only have the necessary skills but also embody our values of integrity, impartiality, and respect. Benefits and Perks Working at Fannie Mae comes with a comprehensive benefits package designed to support the health, well-being, and financial security of our employees and their families. From competitive health benefits and retirement plans to flexible working arrangements and wellness programs, we prioritize the well-being of our team members. Stay Connected Networking and staying connected are key components of building a successful career at Fannie Mae. Engage with us through various professional networking events, online communities, and social platforms to stay updated on new positions, company news, and industry trends. Apply Now Ready to take the next step in your career? Review our open positions, tailor your resume, and prepare for an interview that could set you on a path to a rewarding career at Fannie Mae. We are excited to see how your vision, skills, and enthusiasm can contribute to our team and the broader mission of affordable housing. Explore Fannie Mae Jobs Discover the exciting and impactful career paths available at Fannie Mae. Each position offers the opportunity to challenge yourself, contribute to a significant cause, and work within a culture that values innovation, leadership, and community impact. Join us in shaping the future of housing finance—apply today and be part of a team that is dedicated to making a difference.
Learn more about Fannie Mae
Size
7,400 employees
Industry
Founded
1938
NASDAQ

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