Senior Lead Commercial Real Estate Affordable Housing Multifamily Underwriter - Director

About this role:

Wells Fargo is seeking a Senior 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:

• Maintain a comprehensive knowledge and understanding of Freddie Mac and Fannie Mae multifamily underwriting guidelines and requirements, with specific focus on affordable housing programs
• Build and maintain 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 partners
• Perform property inspections
• Analyze credit of tenants and borrowers
• Coordinate with the loan closing team throughout the negotiation process
• Make recommendations to credit for prospective loans
• Serve as a leader and industry expert on the team, sharing best practices and expertise with more junior team members
• Review third party reports including appraisals, environmental reports (phase I and II), and engineering reports
• Work closely with Community Lending and Investment (CLI) on transactions wherein the groups partner
• Work closely with WF Construction Monitoring group to process and close loans on rehabilitations and new construction
• Collaborate and consult with Commercial Real Estate Underwriting peers, colleagues, and mid level to more experienced managers to resolve issues and achieve goals

Required Qualifications:

• 7+ years of Commercial Real Estate Underwriting experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Desired Qualifications:

• 7+ years experience of underwriting multifamily transactions
• 7+ years experience Fannie Mae and Freddie Mac multifamily affordable loans
• Experience with tax credit equity or construction loan debt products.
• Experience performing property inspections
• Experience analyzing credit of tenants and borrowers.
• Experience reviewing third party reports including appraisals, environmental reports (phase I and II), and engineering reports
• Leadership experience
• Strong analytical skills with high attention to detail and accuracy
• Excellent verbal, written, and interpersonal communication skills
• Ability to work effectively, as well as independently, in a team environment
• A BS/BA degree or higher

Job Expectations:

• Ability to travel as needed
• Ability to work additional hours as needed
• The base salary range for this role in NY, NY is $200,000 - $250,000

Pay Range

$144,400.00 - $300,000.00

Posting End Date:

21 Apr 2024

*Job posting may come down early due to volume of applicants.

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, national origin, disability, status as a protected veteran, or any other legally protected characteristic.

Applicants with Disabilities

To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.

Drug and Alcohol Policy

 

Wells Fargo maintains a drug free workplace.  Please see our Drug and Alcohol Policy to learn more.