Multifamily Risk Underwriter - Advisor

Fannie Mae; Washington (District of Columbia); Hybrid; USD 141,000 - 184,000; Full time

Job summary

Fannie Mae is seeking a Multifamily Risk Underwriter - Advisor to independently manage complex multifamily loan transactions from quotation and underwriting through credit recommendation. You will guide risk assessment, oversee forensic reviews, and partner with lenders to ensure sound credit decisions that align with underwriting guidelines.

The role emphasizes end-to-end underwriting, collaboration with cross-functional teams, and mentoring on best practices.

Qualifications

• 6+ years of multifamily CRE underwriting, full-cycle underwriting of complex loans.
• Experience with multifamily agency lending (Fannie Mae, Freddie Mac, FHA, CMBS, or bank portfolios).
• Independently manage loan transactions from underwriting to closing support.
• Analyze borrower financials, property operations, market conditions, and third-party reports.
• Strong understanding of multifamily lending principles, credit analysis, and risk assessment.
• Forensic underwriting experience is a plus.
• Experience evaluating DSCR, LTV, debt yield, and leverage.
• Advanced Excel skills; ability to present complex analyses to stakeholders.

Responsibilities

• Lead 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 docs to determine creditworthiness and ensure guideline compliance.
• Perform forensic underwriting reviews to identify deficiencies, fraud indicators, valuation concerns, or sponsor risks.
• Analyze borrower financials, operating performance, rent rolls, appraisals, and third-party reports.
• Identify credit risk trends and propose mitigation strategies to improve underwriting quality.
• Collaborate with Credit, Legal, Risk, and Asset Management to resolve issues and enable sound lending decisions.
• Present analyses and recommendations to credit decision-makers and senior leadership.
• Suggest enhancements to underwriting standards, processes, and QA practices.
• Serve as SME and mentor on high-risk underwriting scenarios.

Skills

Financial modeling

Analytical skills

Credit analysis

Communication

Risk assessment

Underwriting

Travel

Education

Bachelor’s degree or equivalent experience

Tools

Microsoft 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 DescriptionThe 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 MAKEThe 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 TEAMMinimum Required Experience6+ 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 ExperienceBachelor’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 - HybridQualificationsEducation: 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. If you need assistance using our online system and/or you need a reasonable accommodation related to the hiring/application process, please complete this form .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: 141000to 184000