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GSE Assumptions Underwriter

Dallas, Texas, United States

At Northmarq, you can be part of something special. Northmarq is a unique capital markets resource for commercial real estate investors, providing our clients access to experts in debt, equity, investment sales, loan servicing, and fund management. We offer you a career path with best-in-class training, and we foster inclusive teams committed to collaboration, mentoring, and growth. At Northmarq, we will help you unlock your potential – whether you are an industry veteran or you’re just getting started. Your new career is waiting. Start something special today. Northmarq was voted by Real Estate Forum as one of The Best Places to Work in Commercial Real Estate! 

This position requires a deadline driven, service focused, and detail-oriented individual, who will be responsible for reviewing and processing a portfolio of Fannie Mae and Freddie Mac assumption/transfer requests, with a focus on property financial statement and rent roll analysis, borrower credit analysis, preparation of underwriting packages, Agency and Master Servicer submissions, and mentoring and training others within the department. Focus will be on commercial mortgage risk management and customer service. Additional responsibilities may be added to align with department strategies and objectives.

Responsibilities

  • Review and process a portfolio of Fannie Mae and Freddie Mac assumption/transfer of ownership requests, adhering to Agency guidelines.
  • Serve as the transaction's primary point of contact for the borrower, production teams, and other relevant parties.
  • Manage and communicate transaction expectations and updates to the team's manager, borrower, production managers, and other relevant parties.
  • Prepare assumption/transfer applications, as well as processing checklists and required borrower forms.
  • Review and inventory required due diligence documentation.
  • Examine borrower structures by creating and reviewing organizational charts and documents.
  • Review the sponsor's real estate schedules and financial statements to assess their creditworthiness and financial wherewithal.
  • Prepare underwriting packages including financial modeling, market analysis, borrower credit analysis, and lender risk assessments.
  • Engage and review any required third-party reports (Appraisal, Property Condition Assessment, Environmental, Zoning, and Seismic).
  • Coordinate third-party onsite property inspections, if required.
  • Submit and process assumption/transfer of ownership request to the applicable Agency and/or Master Servicer, with continued follow up and monitoring.
  • Pre-closing and post-closing support, with the preparation of transaction approval letters and final delivery documentation.
  • Assist insurance and closing teams, as needed.
  • Mentor and train the team's GSE Assumptions Analysts or other support staff.
  • Be apprised of changing Agency guidelines, while staying current on multifamily market trends and regulatory developments impacting commercial real estate.

Experience

Education: Bachelor's Degree, preferably with major in real estate finance, business administration, or accounting. Other Majors will be considered.

Work:

  • 4-7 years' experience in asset management or underwriting Fannie Mae and Freddie Mac multifamily transactions, with experience in processing assumptions and transfers of ownership a plus.
  • Proficient in Microsoft Office (Excel, Word, PowerPoint), experience with Adobe, Salesforce, and other database applications (Enterprise!).
  • Skilled in the various Fannie Mae and Freddie Mac multifamily applications (DUS Navigate, MAMP, CRT, DMS, etc.).
  • Extensive knowledge of Agency guidelines and loan documents.

Demonstrated Competencies:

  • Exceptional organizational skills, with the ability to manage multiple projects under tight deadlines.
  • Customer service-oriented with the ability to effectively communicate good or bad news to various parties.
  • Demonstrated ability to work independently and within a team, with minimal supervision.
  • Effective oral and written communication skills.
  • High level of integrity, confidentiality, and professionalism.
  • Attention to detail and accuracy required.
  • Problem solving skills to reflect level of responsibilities.
  • Ability to maintain sensitive and confidential information.
  • Ability to travel for site inspections as required.

Northmarq offers a highly competitive benefits package including: medical, dental, vision, paid time off, 401K match and an annual discretionary contribution based on business performance, paid parental leave and adoption assistance, education assistance, volunteer paid time off, charitable contribution match and so much more!

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