Senior Underwriter, Affordable Housing

KeyBank; Cleveland (OH); On-site; USD 96,000 - 181,000; Full time

Job summary

KeyBank is seeking an experienced commercial mortgage underwriter for an on-site role supporting affordable and market-rate multifamily loans in the US. The position emphasizes Fannie Mae, Freddie Mac, and private placement programs and requires strong risk-conscious underwriting and collaboration with CMG teams.

The role involves leading underwriting efforts, ensuring compliance with agency guidelines, and mentoring junior staff, with a focus on delivering quality, timely outcomes.

Qualifications

• Bachelor's degree required in a related field.
• Minimum of five years underwriting experience in affordable housing loans.
• Experience with Fannie Mae, Freddie Mac, and Private Placement programs.
• Excellent verbal and written communication skills.

Responsibilities

• Deliver risk-conscious underwriting for real estate transactions.
• Lead underwriting teams for affordable housing deals.
• Collaborate with origination, closing, and servicing teams.
• Ensure compliance with Agency guidelines and internal policies.
• Review third-party reports and provide feedback.
• Perform property inspections and market analysis.
• Mentor and motivate team members.
• Maintain data accuracy in underwriting systems.
• Communicate effectively with clients, teammates and stakeholders.

Skills

Org & time mgmt

Leadership

Teamwork

Conflict resolution

Verbal & written communication

Education

Bachelor's degree required

Real Estate degree (preferred)

Finance degree (preferred)

Economics degree (preferred)

Tools

Microsoft Word

Microsoft Excel

Microsoft Outlook

Adobe Acrobat

Financial calculators

Excel-based financial modeling tools

Job description

KeyBank is seeking an experienced commercial mortgage underwriter for an on-site role supporting affordable and market-rate multifamily loans in the US. The position emphasizes Fannie Mae, Freddie Mac, and private placement programs and requires strong risk-conscious underwriting and collaboration with CMG teams.

The role involves leading underwriting efforts, ensuring compliance with agency guidelines, and mentoring junior staff, with a focus on delivering quality, timely outcomes.