FHA Underwriter

Job Description:

Are you looking for an opportunity to define your future in the commercial real estate industry based on your own unique skills and experience?

Whether your talents lie in marketing, operations, finance, human resources, management, or something different altogether, you’ll find flexibility and a sense of belonging at Berkadia. We’re committed to a culture that strives for excellence – a place where your contributions are valued, you are empowered to create positive impact, and you can grow your career. Be Your Best Self. Be Berkadia. 

The FHA Underwriter is the project manager on the deal during the underwriting stage of the deal. The FHA Underwriter is responsible for leading the Underwriting Team and leading the underwriting, progress, communication and troubleshooting of the deal prior to receipt of the Firm Commitment from HUD. Mortgage Banking and Underwriting Team relies on the Underwriter to navigate the deal through the underwriting process, submission to HUD and receipt of the Firm Commitment. The Underwriter is also required to be a mentor to other Underwriting team members. The Underwriter is responsible for analyzing and underwriting potential loans on complex commercial real estate loan applications across a broad spectrum of asset types. The main duty of the Underwriter is to determine whether the transaction and potential borrower present an acceptable level of risk.

We Innovate to shape the future of CRE, so in this role you will:

• Critically review all underwriting components including narratives, mortgage credit, third-party report conclusions, financial and property information to ensure program compliance and acceptable risk to HUD and Berkadia.
• Oversee the underwriting process, collaborating with the underwriting team. Guide and coach the underwriting team through all stages of the loan process, offering direction and actionable feedback.
• Manage project timelines and coordinate with stakeholders, as needed throughout the underwriting process to ensure project milestones and deadlines are met.
• Delegate and review underwriting narratives and financial analyses, ensuring quality control. Collaborate with underwriting team to identify risks, provide a thorough description, develop suitable mitigants and conclusions.
• Evaluate market competitiveness and economic feasibility of proposed collateral and projected income streams.
• Present underwriting recommendations and supporting documentation to approval committee.
• Maintain effective communication with HUD, the underwriting team, clients and other stakeholders, including addressing challenging topics as needed.
• Oversee multiple loan transactions simultaneously, tracking progress, assigning tasks, and meeting project deadlines.
• Other duties as assigned.

We are passionate about your growth, so to achieve success in this role you should have: 

• Ability to adhere to Berkadia's policies and exhibit proficiency and understanding of Berkadia's Values and position-specific skills.
• In-depth knowledge of the FHA 221(d)(4) new construction loan program, with a focus on market rate transactions.
• Documented experience with achieving firm commitments under the FHA 221(d)(4) program.
• Knowledge of underwriting projects that are undergoing lease up to stabilization for permanent debt under the 223(f) three-year rule financing.
• Ability to interpret and apply HUD guidelines effectively, including environmental compliance and mitigation for new construction.
• Strong ability to multitask and handle a large workload of transactions simultaneously.
• Excellent organizational, analytical and quantitative skills, detail oriented and possess a high level of initiative.
• Ability to interface with team members, work independently and in a team environment and possess excellent communication skills.
• Ability to adapt to a rapidly changing work environment.
• MAP Underwriter Certification required.

We believe People Matter, so we offer benefits that go beyond:

• Monthly paid volunteer hours and donation matching to benefit our communities 
• Employee Resource Groups that help you grow with us
• Fertility and family planning services  
• Up to 12-weeks of fully paid parental leave   
• Mental health care, including free counseling sessions:  
• We'll help you fund your learning journey with generous tuition reimbursement 
• Pet insurance discounts 
• And more! 

Be Your Best Self. Be Berkadia.