Multifamily Risk Underwriter - Advisor

Fannie Mae; United States; Hybrid; USD 141,000 - 184,000; Full time

Job summary

Fannie Mae in the United States seeks a Multifamily Risk Underwriter – Advisor to independently manage complex multifamily loan transactions from quote and underwriting through credit recommendation, while guiding risk assessment and underwriting best practices.

You will analyze borrower financials, property operating performance, rent rolls, appraisals, and third-party reports, partnering with Credit, Legal, Asset Management, and Risk teams to deliver informed lending decisions and robust

Qualifications

• The candidate has at least a bachelor’s degree and extensive experience in multifamily underwriting and credit analysis.
• Experience with forensic underwriting reviews and advanced financial modeling is preferred.
• Strong ability to evaluate DSCR, LTV, debt yield, and leverage in complex deals.

Responsibilities

• Lead end-to-end underwriting of complex multifamily mortgage transactions including financial analysis and credit recommendation.
• Evaluate loan applications to determine creditworthiness and ensure compliance with guidelines.
• Perform forensic reviews to identify deficiencies, fraud indicators, and valuation concerns.
• Analyze borrower financials, operating performance, rent rolls, appraisals, and third-party reports.
• Present analyses and recommendations to credit decision-makers and senior leadership.
• Mentor others on high-risk underwriting scenarios and best practices.

Skills

Underwriting

Financial analysis

Credit risk

Multifamily lending

DSCR

LTV

Excel

Education

Bachelor's degree

Tools

Excel

Job description

Playing an essential role in the U.S. economy, Fannie Mae is foundational to housing finance. Here, your expertise can help fuel purpose-driven innovation that expands access to homeownership and affordable rental housing across the country. Join Fannie Mae to grow your career and help people find a place to call home.

Job Description

The Multifamily Risk Underwriter - Advisor role offers the opportunity to independently manage complex multifamily loan transactions from quote and underwriting through credit recommendation while providing expert guidance on risk assessment, forensic underwriting reviews, red flag identification and mitigation, and underwriting best practices. Working collaboratively across the organization and with lenders, you will help ensure sound credit decisions that support Fannie Mae's mission and protect the enterprise.

THE IMPACT YOU WILL MAKE

The Multifamily Risk Underwriter – Advisor role will offer you flexibility to make each day your own, while working alongside a dynamic and supportive team so that you can deliver on the following responsibilities:

• Lead the end-to-end underwriting of complex multifamily mortgage transactions, including financial analysis, property valuation, market assessment, borrower analysis, and credit recommendation.
• Evaluate loan applications and supporting documentation to determine creditworthiness, identify key risks, and ensure compliance with underwriting guidelines and credit policies.
• Perform forensic underwriting reviews to identify underwriting or property deficiencies, potential fraud indicators, valuation concerns, and borrower or sponsor risks prior to loan acquisition.
• Analyze borrower financial statements, property operating performance, rent rolls, appraisals, engineering reports, environmental reports, and other third-party due diligence.
• Identify emerging credit risk trends and recommend strategies to mitigate enterprise risk and improve underwriting quality.
• Partner with internal stakeholders, including Credit, Customer Engagement, Legal, Asset Management, and Risk teams, to resolve complex underwriting issues and facilitate informed lending decisions.
• Present underwriting analyses and recommendations to credit decision-makers and senior leadership.
• Recommend enhancements to underwriting standards, processes, and quality assurance practices to improve consistency and efficiency.
• Serve as a subject matter expert and mentor by providing guidance on high-risk underwriting scenarios and best practices.

THE EXPERIENCE YOU BRING TO THE TEAM

Minimum Required Experience

• 6+ years of multifamily commercial real estate underwriting experience, including full-cycle underwriting of complex multifamily mortgage transactions.
• Knowledge of multifamily agency lending (Fannie Mae, Freddie Mac, FHA, CMBS, or bank portfolio lending).
• Demonstrated experience independently managing loan transactions from initial underwriting through credit recommendation and closing support.
• Experience analyzing borrower financials, property operations, market conditions, and third-party reports.
• Strong understanding of multifamily lending principles, commercial real estate credit analysis, and risk assessment.

Desired Experience

• Bachelor’s degree or equivalent experience.
• Experience performing forensic underwriting reviews.
• Strong financial modeling and analytical skills.
• Experience evaluating key credit metrics, including DSCR, LTV, debt yield, and leverage.
• Advanced Microsoft Excel skills.
• Excellent written and verbal communication skills with the ability to present complex analyses to diverse stakeholders.
• Ability to travel and conduct full property inspections independently.
• Strong critical thinking, problem-solving, and decision-making abilities.

Multifamily Risk - Underwriting - Advisor #LI-NL1 - Hybrid Qualifications Education: Bachelor's Level Degree (Required)

The future is what you make it to be. Discover compelling opportunities at Fanniemae.com/careers.

For most roles, employees are expected to work onsite on a regular basis at their designated office location. In-office work cadence is determined by your manager. Proximity within a reasonable commute to your designated office location is preferred unless the job is noted as open to remote.

Fannie Mae is an equal opportunity employer and considers qualified applicants for employment without regard to race, color, religion, sex, national origin, disability, age, sexual orientation, gender identity/gender expression, marital or parental status, or any other protected factor.

Fannie Mae is committed to providing reasonable accommodations to qualified individuals with disabilities who are employees or applicants for employment, unless to do so would cause undue hardship to the company.

The hiring range for this role is set forth below.

Final salaries will generally vary within that range based on factors that include but are not limited to, skill set, depth of experience, certifications, and other relevant qualifications.

This position is eligible to participate in a Fannie Mae incentive program (subject to the terms of the program).

As part of our comprehensive benefits package, Fannie Mae offers a broad range of Health, Life, Voluntary Lifestyle, and other benefits and perks that enhance an employee's physical, mental, emotional, and financial well-being.

See more here.

Requisition compensation: 141000 to 184000

As a Fortune 25 company, Fannie Mae expands access to housing across America. Powered by the latest tech and AI, our innovative products and services drive the mortgage industry forward. We believe that prioritizing our people’s growth and success is essential to achieving our business goals and fulfilling our purpose.