M&T Realty Capital Corporation is a wholly-owned subsidiary of M&T Bank. As a full-service mortgage banking company, we specialize in providing competitive financing nationwide for commercial real estate.

Overview:          

Deputy Chief Underwriters (DCU) will be responsible for direct underwriting of multifamily and/or healthcare transactions under the Fannie Mae, Freddie Mac and/or FHA programs, or balance sheet/bridge loans.  DCU’s will serve as mentors to junior analysts and/or Underwriter Trainee staff.  DCU’s are responsible for reviewing transactions that are underwritten by all staff levels prior to being submitted for loan approval and for being a mentor for issues that may arise during or after the underwriting process. For those transactions for which a UW Trainee is working on the underwriting, DCU’s are responsible for reviewing all aspects of the transaction being submitted as if the DCU was the direct underwriter.  Position requires high level of detail and desire/ability to serve as mentor to others on the team.  An established relationship with Agency and/or HUD lending partners is necessary.   For Fannie Mae loans with loss sharing, the DCU is involved in the approval process based on the transaction size and Tier.  

Primary Responsibilities:

• Analyze and manage the multifamily underwriting process ensuring loans are underwritten in accordance with appropriate investor guidelines and commitments are issued in a timely manner.
• Responsible for accurate loan sizing and overall risk assessment prior to/or after application utilizing specific investor underwriting guidelines and requirements.
• Interview prospective borrowers and property managers to obtain critical property, management, and borrower details for each transaction.
• Responsible for reviewing subordinate debt documents and regulatory agreements in accordance to the program requirements.  
• Work with originators to determine most appropriate deal structure for transactions and resolve outstanding issues.
• Interact with respective Investor Representatives (Fannie Mae, Freddie Mac, Life, HUD, etc) regarding loan transaction terms and waivers.
• Inspect property in accordance with Investor guidelines (travel required-national).
• Obtain and review all third party reports associated with each transaction as required by specific investor.
• Completion of underwriting narrative/committee package.
• Work closely with the processing team to monitor the status of the submission and communicate with the deal team and customer to ensure transactions are submitted in a timely manner. 
• Review of commitment letter and handoff to loan closing department.
• Stay current new or revised legislation and regulations that may impact established policies.
• Willingness to become subject matter expert on topics and share knowledge to group
• In addition to assisting with screening certain portfolio transactions, DCU is consulted by the Screening Group to provide feedback with structuring transactions and providing feedback on viabliity of approval.  
• Address post-closing follow-up requests from asset management or rating agencies and potential buyers of the security during the securitization process (Freddie Mac). 
• Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite.  Identify risk-related issues needing escalation to management. 
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Complete other related duties as assigned.

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Scope of Responsibilities:

DCUs are required to use analytical skills to review rent roll, operating statements, financial statements, third party reports (real estate appraisals, market studies, physical needs reports and environmental reports) to make credit judgments and prepare the required application submissions to the appropriate agency.
Position requires a high level of detail and desire/ability to serve as mentor to others on the team, as experience is gained.  

Supervisory/Managerial Responsibilities:

Direct management of underwriters and indirect management/mentor of other team members assigned to the transaction.

Education and Experience Required:

Bachelor’s degree and a minimum of 9 years’ agency multifamily underwriting experience inclusive of 2 years' leadership experience, OR in lieu of a degree,
A combined minimum of 12 years’ higher education and/or agency multifamily underwriting experience inclusive of 2 years' leadership experience.

Prior Leadership experience
Strong knowledge of Microsoft Office systems including Outlook, Excel, Word, etc.
Strong interpersonal skills with the ability to interact with all levels of personnel and customer base.
Excellent verbal and written communication skills.
Strong analytical and problem solving skills to identify issues early that may impact a transaction and come up with solutions to mitigate, if possible, transaction issues.
Good organizational skills--ability to multi-task plus compile and review information in a timely and organized matter.
Detail oriented, particularly with numbers. Ability to function independently and meet deadlines

Proficient knowledge of Fannie Mae and Freddie Mac multifamily guidelines

Why Choose MTRCC:

We are 1 of 5 US-based lenders offering Fannie Mae, Freddie Mac, FHA, bridge loans, life company, debt funds and other capital source relationships

Our parent company, M&T Bank, is one of the largest commercial real estate lenders in the United States. We leverage the power of our balance sheet and other financial services to provide a wide array of resources to fit our clients’ needs.

Approved Fannie Mae DUS® and Freddie Mac Optigo® lender since 1989

One of the nation’s leading firms providing FHA-insured multifamily mortgages and an approved MAP lender with 30+ years of experience

We offer a competitive Multifamily Bridge Loan Program aimed at providing customers with shorter-term financing solutions as a bridge to closing on an agency or life company execution

Our long-standing relationships with numerous life insurance company investors gives us flexibility during the term of a loan

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $136,787.30 - $227,978.83 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation. The range listed above corresponds to our national pay range for this role. The specific pay range applicable to you may vary based on your location.

Location:

Clanton, Alabama, United States of America