Underwriter

Jones Lang LaSalle (JLL); United States; On-site; USD 150,000 - 300,000; Full time

Benefits offered by this job

401(k) plan with company match

Comprehensive Medical, Dental & Vision

Paid parental leave

Paid Time Off and Holidays

Daily Pay

Job summary

JLL is seeking an experienced Underwriter for its Capital Markets-Multifamily Debt team. The role involves underwriting multifamily and senior housing transactions, coordinating with deal teams, and presenting to loan committees.

You will analyze market conditions, financials, and sponsor credentials to determine loan viability. The position supports a nationwide office network (Dallas, DC, Tampa, Chicago, LA, SF, Atlanta) and requires strong Excel/Word skills, attention to detail, and travel

Qualifications

• 1-5 years of experience in Multifamily finance underwriting.
• Undergraduate degree in Finance, Accounting, Real Estate or related field.
• Strong Microsoft Excel and Word proficiency.
• Strong math, verbal, writing, leadership, and organizational skills.
• Strong time management skills and ability to operate under demanding deadlines.
• Ability to multitask and work on several transactions simultaneously.
• Ability to recognize and mitigate risk.
• Excellent attention to detail and the ability to work independently and in teams.
• Ability to travel as needed.

Responsibilities

• Analyze practical problems and resolve complex transactions with minimal information.
• Lead initial and follow-up deal team meetings to evaluate loan strengths/weaknesses and ensure guidelines.
• Manage to customer satisfaction and timelines for transaction funding.
• Compile data and form conclusions on market conditions, management, property condition, and sponsor.
• Review third-party reports to determine market value and environmental concerns.
• Review ground leases, regulatory agreements, contracts, and operating agreements.
• Perform financial analysis including trend and cap rate analysis, capex needs and proforma NOI/DSC.
• Analyze ownership structures relative to legal/financial responsibilities.
• Complete property site inspections.
• Provide loan status updates to underwriting team and originators.
• Prepare waiver/exception justifications; draft loan narratives.
• Coordinate with closing/pricing during rate lock to match loan and rate terms.
• Review draft commitment letters for accuracy; input data.
• Mentor Analysts and Processors.

Skills

Excel

Word

Fannie Mae DUS

Freddie Mac Program Plus

financial analysis

trend analysis

cap rate analysis

capital expenditure

proforma NOI

DSC calculations

property site inspections

leadership

organizational skills

time management

risk mitigation

Education

Undergraduate degree in a business-related field

Job description

Underwriter

Experience: 1 to 5 years

Location: Atlanta, GA, Chicago, IL, Dallas, TX, Los Angeles, CA, San Francisco, CA, Tampa, FL, Washington, DC

Skills: Microsoft Excel, Microsoft Word, Fannie Mae DUS, Freddie Mac Program Plus, financial analysis, trend analysis, cap rate analysis, capital expenditure, proforma NOI, DSC calculations, property site inspections, leadership, organizational skills, time management, risk mitigation

Company Overview

JLL empowers you to shape a brighter way. Our people at JLL 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. We are currently seeking an experienced Underwriter to join our JLL Capital Markets-Multifamily Debt Team. The Underwriter must demonstrate the ability for detail, organization and analytical orientation, and possess the initiative to work in an independent and reliable manner. The Underwriter will provide exceptional service to our clients and underwrite multifamily products. They will complete the underwriting narrative and financial analysis, identify strengths and weaknesses with appropriate mitigants and present to loan committee for approval. The Underwriter must have knowledge of both the Fannie Mae DUS and Freddie Mac Program Plus programs and must have the ability to underwrite multifamily and senior housing products, including both conventional and affordable transactions. The position will be based in our Dallas, DC, Tampa, Chicago, LA, San Francisco, or Atlanta offices.

Responsibilities

• Analyze practical problems and resolve complex transactions when confronted with minimum detailed, concrete or standardized information
• Lead Initial (and all follow-up) Deal Team meetings to evaluate strengths and weaknesses of prospective loans, understand Fannie Mae DUS and Freddie Mac Program guidelines and offer direction to the team for guide compliance, establish underwriting/closing timeline, and make borrower introductions
• Manage to customer satisfaction and internal timelines for transaction funding
• Compile independent data and form conclusions on market conditions, management, property condition, and sponsor
• Review reports prepared by third-party consultants to determine market value, physical needs, environmental concerns and architectural/cost requirements are being met for multifamily and healthcare properties
• Review of specialized documents such as ground leases, regulatory agreements, Section 8 contracts, bond documentation and operating agreements
• Perform financial analysis including trend and cap rate analysis, capital expenditure requirements and proforma NOI and DSC calculations
• Analyze and evaluate complex ownership borrower structures relative to legal and financial responsibilities and obligations
• Complete property site inspections
• Regularly communicate loan status updates to underwriting team and originators as appropriate.
• Prepare waiver/exception justifications
• Complete loan narrative incorporating strengths, weaknesses and mitigants in the overall transaction
• Work closely with closing and pricing during rate lock to ensure the approved loan amount and structure is appropriately matched to the approved rate lock terms
• Review for accuracy the draft commitment letter to be issued to the borrower to ensure commitment accuracy
• Review and approve data input
• Mentor Analyst and Processor
• Additional duties as deemed necessary by management

Qualifications Required

• 1-5 years of experience in Multifamily finance underwriting
• An undergraduate degree in a business-related field (i.e. Finance, Accounting, Real Estate, Business)
• Strong Microsoft Excel and Word proficiency
• Strong math, verbal, writing, leadership, and organizational skills
• Strong time management skills and ability to operate under demanding deadlines
• Ability to multitask and work on several transactions simultaneously
• Ability to recognize and mitigate risk
• Excellent attention to detail and the ability to work independently and in teams
• 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 travels (including but not limited to planes, trains and automobiles) to different time zones and may require overnight lodging. This position does not provide visa sponsorship. Candidates must be authorized to work in the United States without sponsorship.

Estimated compensation for this position

150,000.00 — 300,000.00 USD per year. This range is an estimate and actual compensation may differ. Final compensation packages are determined by various considerations including but not limited to candidate qualifications, location, market conditions, and internal considerations.

Location: On-site –Atlanta, GA, Chicago, IL, Dallas, TX, Los Angeles, CA, San Francisco, CA, Tampa, FL, Washington, DC

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
• Early access to earned wages through Daily Pay

At JLL, we harness the power of artificial intelligence (AI) to efficiently accelerate meaningful connections between candidates and opportunities. Using AI capabilities, we analyze your application for relevant skills, experiences, and qualifications to generate valuable insights about how your unique profile aligns with the specific requirements of the role you’re pursuing.

JLL Privacy Notice

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously. Generally the personal information we collect from you are for the purposes of processing in connection with JLL’s recruitment process. We endeavour to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our Candidate Privacy Statement. For additional details please see our career site pages for each country. For candidates in the United States, please see a full copy of our Equal Employment Opportunity policy here.

Jones Lang LaSalle (“JLL”) is an Equal Opportunity Employer and is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process — including the online application and/or overall selection process — you may email us at [e-mail]. This email is only to request an accommodation. Please direct any other general recruiting inquiries to our Contact Us page.

Pursuant to the Arizona Civil Rights Act, criminal convictions are not an absolute bar to employment. Pursuant to Illinois Law, applicants are not obligated to disclose sealed or expunged records of conviction or arrest. Pursuant to Columbia, SC ordinance, this position is subject to a background check for any convictions directly related to its duties and responsibilities. Only job‑related convictions will be considered and will not automatically disqualify the candidate.

California Residents only

If you are a California resident as defined in the California Consumer Privacy Act (CCPA) please view our Supplemental Privacy Statement which describes your rights and disclosures about your personal information. If you are viewing this on a mobile device you may want to view the CCPA version on a larger device. Pursuant to the Los Angeles Fair Chance Initiative for Hiring Ordinance, JLL will consider for employment all qualified Applicants, including those with Criminal Histories, in a manner consistent with the requirements of applicable state and local laws, including the City of Los Angeles’ Fair Chance Initiative for Hiring Ordinance. Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.