Analyst, Underwriting

JLL; Dallas (TX); Remote; USD 60,000 - 80,000; Full time

Job summary

A leading company in real estate is seeking an Analyst to support multifamily agency transactions. The role involves financial modeling, underwriting, and site inspections. Ideal candidates will possess strong analytical and communication skills, along with an undergraduate degree in a business-related field. This position offers a competitive salary and comprehensive benefits.

Benefits

401(k) plan with matching company contributions

Comprehensive Medical, Dental & Vision Care

Paid parental leave at 100% of salary

Paid Time Off and Company Holidays

Qualifications

• Ability to analyze qualitative and quantitative information.
• Strong writing skills to communicate analytical data effectively.
• Ability to work independently and as a team player.

Responsibilities

• Conduct complex financial modeling of multifamily transactions.
• Review third-party reports for accuracy and compliance.
• Perform site inspections of multifamily assets.

Skills

Analytical Skills

Communication

Organizational Skills

Problem Solving

Time Management

Education

Undergraduate degree in a business-related field

Tools

Microsoft Office

Job description

JLL empowers you to shape a brighter way.

Our people at JLL and JLL Technologies are shaping the future of real estate for a better world by combining world class services, advisory and technology for our clients. We are committed to hiring the best, most talented people and empowering them to thrive, grow meaningful careers and to find a place where they belong. Whether you've got deep experience in commercial real estate, skilled trades or technology, or you're looking to apply your relevant experience to a new industry, join our team as we help shape a brighter way forward.

Summary/Objective:

The Analyst will become familiar with the Fannie Mae and Freddie Mac financing programs being offered by JLL and the required processing and underwriting responsibilities outlined for each program. Further, the Analyst will have the opportunity to be an integral participant in all stages of the underwriting, closing and delivery of a multifamily agency transaction including the initial underwriting sizing of the loan, assessing the quality of the credit information provided, traveling to inspect assets and meet with customers and participate in critical final loan delivery activities. The Analyst must demonstrate attention to detail, an organizational and analytical orientation, an ability to engage with Borrower and Borrower representatives particularly while attending site inspections and possess the initiative to work in an independent and reliable manner.

Essential Functions:

• Responsible for complex financial modeling of multifamily transactions that includes analyzing property operating statements and rent rolls and determining a pro-forma NOI used for Loan determination, to be further reviewed and approved by UW. This includes obtaining and interpreting certain market and comparable data to make informed underwriting decisions, and further includes identifying and communicating questions regarding a property's financial operations
• Review reports completed by third parties, including but not limited to appraisal, physical condition assessments, architectural/cost, market study, environmental, zoning and any other relevant third-party reports for accuracy and compliance with Investor requirements and participate in the preparation of comments and requested revisions from the third party providers
• Must be technically proficient in accessing various database systems (both internal and external) available to JLL to obtain, assimilate and interpret certain key data points that influence the underwriting of the loan
• Must understand and review real estate documents such as leases, loan document schedule, third party reports, etc. to determine whether additional risks are presented to a transaction
• Complete most, if not all, of the various sections of the complex Underwriting model utilized in the financial analysis of a transaction
• Author various integral sections of the Underwriter's narrative, including but not limited to the following:
  • Property Description
  • Market
  • Submarket
  • Management
  • PNA
  • Environmental
  • Appraisal
  • Waiver Form, if applicable
• Review all documentation received from client/borrower for completeness and accuracy. Report any issue of concern to team Underwriter
• Will complete site inspections of multifamily assets and submarkets (neighborhoods) to determine acceptability for financing. This includes interpreting neighborhood trends, adequacy of Borrower maintenance practices and that lender expectations are met and consistent with third party conclusions. The Analyst will conduct/lead said inspection that usually involves meeting with and discussing the asset and transaction with key Borrower representatives and management
• Offer direction to the team for guide compliance, and assist with underwriting/closing timeline
• Work with underwriter and vendors to ensure that all parties have a clear understanding of their responsibilities
• Analyze and evaluate borrower ownership structures to ensure that the application meets underwriting guidelines
• Regularly communicate loan status updates to underwriting team and originators as appropriate and/or directed by the underwriter
• Attend and participate in deal team calls both internally and externally with Borrower representatives
• Work closely with closing team to complete any outstanding due diligence that may be required to close the loan
• Create and foster relationships with Fannie Mae and Freddie Mac personnel
• Look for opportunities to enhance understanding of transactions or processes, take on additional responsibilities of an Underwriter position, and discuss areas where the individual can contribute additional value to the team. Additional duties will be assigned as the individual advances their knowledge level
• Review and stay abreast of agency guidelines
• Perform other duties requested by management including the CU, DCUs and Underwriters
• Participate in training programs to include, but not limited to, underwriting and processing concepts, mortgage credit analysis, commercial appraisal review, and physical capital needs and environmental site assessments
• Through the successful execution of all of the duties outlined herein, establish strong working relationships with clients and create high customer satisfaction and retention

Qualifications Required:

• Knowledge of Microsoft office (Word, Excel, Outlook, Teams) with an emphasis on Excel
• Willingness and ability to learn new technology
• Ability to work independently, unsupervised, and as a team player
• Excellent organizational, interpersonal, quantitative, writing and communication skills; able to interface with clients including their top-level executives
• Strong time management skill and ability to operate under demanding deadlines
• Excellent attention to detail with the ability to audit own work
• Strong writing skills with ability to communicate analytical and market data effectively
• Strong research, analytical, and problem-solving skills. Ability to analyze qualitative and quantitative information
• Ability to travel as needed

Physical Demands:

Must be able to physically inspect multiple residences and common areas within an apartment complex, as well as inspect comparable properties within the market. Employee must be able to physically move about the apartment complex, which shall require standing and walking for extended periods of time, and climbing stairs. Inspections may also require the ability to sit, reach, and bend.

Travel shall include various modes of travel (including but not limited to planes, trains and automobiles) to different time zones and may require overnight lodging.

Education:

Undergraduate degree in a business-related field (i.e. Finance, Accounting, Real Estate, Business)

Preferred:

Real estate background (internships, real estate clubs, etc.)

Familiarity with Agency multifamily loan procedures such as Fannie Mae DUS and Freddie Mac loan process

Expectation For All Employees:

All employees are expected to support the organization's mission, vision, and values by exhibiting the following behaviors: excellence and competence, collaboration, innovation, respect, personalization, commitment to our community, accountability, teamwork and ownership.

Estimated total compensation for this position:

60,000.00 - 80,000.00 USD per year

The total compensation range is an estimate and not guaranteed. An employment offer is based on an applicant's education, experience, skills, abilities, geographic location, internal equity and alignment with market data .

Location:

Remote -Chicago, IL, Dallas, TX, Los Angeles, CA, Tampa, FL, Washington, DC

Job Tags:

CMG

If this job description resonates with you, we encourage you to apply, even if you don't meet all the requirements. We're interested in getting to know you and what you bring to the table!

Personalized benefits that support personal well-being and growth:

JLL recognizes the impact that the workplace can have on your wellness, so we offer a supportive culture and comprehensive benefits package that prioritizes mental, physical and emotional health. Some of these benefits may include:

• 401(k) plan with matching company contributions

• Comprehensive Medical, Dental & Vision Care

• Paid parental leave at 100% of salary

• Paid Time Off and Company Holidays

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