Underwriter

Walker & Dunlop; Walnut Creek (CA); Hybrid; USD 80,000 - 95,000; Full time

Job summary

A commercial real estate finance company in Walnut Creek is seeking an experienced Underwriter responsible for underwriting mortgages in the multifamily agency lines. The ideal candidate will have a Bachelor’s degree and at least 3 years of relevant underwriting experience. This role offers a competitive salary range of $80,000 - $95,000 plus bonuses and includes comprehensive benefits and remote work flexibility.

Benefits

Comprehensive benefit options

401(k) with match

Career development opportunities

Volunteer hours and donation matching

Qualifications

• 3+ years underwriting experience with Fannie Mae and Freddie Mac loans required.
• Demonstrated leadership with increasing responsibility.
• Advanced degree or certification preferred.

Responsibilities

• Underwrite multifamily real estate transactions per Freddie Mac and Fannie Mae guidelines.
• Conduct detailed analyses of transactions to establish feasibility.
• Prepare comprehensive loan narratives for credit approval.

Skills

Multifamily underwriting knowledge

Analytical skills

Communication skills

Problem-solving abilities

Education

Bachelor’s degree in Real Estate, Economics, or Finance

Job description

Overview

Walker & Dunlop is one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities to life. We are committed to creating meaningful social, environmental, and economic change in our communities.

Department Overview

Walker & Dunlop’s Small Balance Group is a fully integrated lending platform specializing in debt executions and processes tailored to the private client multifamily market. As one of the nation’s top Freddie Mac Optigo Small Balance Loan and Fannie Mae DUS Small Loan lenders, our experts manage the origination, underwriting, funding, and servicing processes in-house and serve as trusted advisors to our clients from quote, close, and beyond. The Small Balance Group plays a critical role in shaping the organization’s future through innovation and process transformation.

The Impact You Will Have

An Underwriter is responsible for underwriting mortgages on income producing property in the company’s multifamily agency lines to support loan production goals. Primary accountability is conducting a comprehensive analysis to determine whether to extend credit, using analytical techniques, research, and underwriting guidelines through all stages of the process—from quotes and applications to underwriting, Loan Committee approval, closing, and securitization or loan delivery. Underwriters must comply with all Company underwriting guidelines and representations and warranties at loan closings. Timely completion of responsibilities is critical, and Underwriters are expected to move loans efficiently from application to commitment and closing in line with the Company’s timeline guidelines.

Primary Responsibilities

• Underwrite complex multifamily real estate transactions in accordance with official Freddie Mac and Fannie Mae product guidelines.
• Establish underwriting timeline in conjunction with the loan officer and closing coordinator.
• Assist Loan Officers and Regional Managers in issuing quotes and applications: preliminary NOI estimates and debt service coverage and loan-to-value considerations.
• Conduct detailed analysis of each transaction to determine feasibility.
• Oversee generation of borrower’s checklist for the proper product type and introduce borrower to information requirements.
• Select contractors and initiate third-party reports for underwriting (e.g., appraisal, environmental, engineering).
• Assess borrower financial and legal standing to determine eligibility for each loan.
• Perform thorough due diligence on property market, location, condition, borrower and principal’s mortgage credit issues, property management, and other risk factors.
• Review and analyze the appraisal, market analysis, property description, real estate tax analysis, zoning, and comparables.
• Review engineering and environmental reports, seismic studies, and market studies as appropriate.
• Conduct site and market inspections.
• Prepare comprehensive loan narratives for Chief Underwriter credit approval.
• Communicate and problem-solve daily with teammates, clients, vendors, and other stakeholders, often with travel.
• Attend to other underwriting-related responsibilities as needed.
• Attendance is generally 8:30 am – 5:30 pm local time, Tuesday through Thursday, with the option to work remotely on Mondays and Fridays.

Education and Experience

• Bachelor’s degree required, preferably with an emphasis on Real Estate, Economics, or Finance.
• 3+ years underwriting experience with Fannie Mae and Freddie Mac loans required.
• Experience working with appraisers and engineering/environmental firms required.
• Advanced degree or professional certification (e.g., MAI, CCIM) preferred.

Knowledge, Skills and Abilities

• Demonstrated knowledge of multifamily underwriting, including key industry players, issues and trends, and ability to evaluate credit, sponsor-related risks, and property operations.
• Demonstrated relationships with Freddie Mac and Fannie Mae personnel.
• Demonstrated leadership with increasing responsibility.
• Excellent interpersonal and presentation skills with the ability to communicate at all levels of management.
• Commitment to innovation and change with initiative to drive improvements.
• Ability to develop and execute solutions to complex issues and transactions.
• Multifamily experience across a wide range of financial and product executions, including fixed and variable rate transactions.
• Ownership mindset, willingness to learn, and collaborative approach.
• Courtesy, respect, and thoughtfulness in teamwork.

This position has an estimated base salary of $80,000 - $95,000 plus discretionary bonus. An employment offer is based on relevant work experience and alignment with market data.

What We Offer

• The opportunity to join one of Fortune Magazine’s Great Places to Work winners from 2015-2023.
• Comprehensive benefit options that include medical, dental and vision benefits, 401(k) with match, pre-tax transit benefits, health and wellness programs, paid leave, life and disability insurance, Health Savings Account, and Flexible Spending Accounts.
• Career development opportunities.
• Volunteer hours and donation matching.

EEO Statement

We are committed to equity in all steps of the recruitment and employment experience. We promote equal access to opportunities and do not tolerate discrimination or harassment based on protected characteristics. We strive to be a safe place to ask questions, build professional relationships, and develop careers.

Fair Chance Hiring

Background checks, including questions related to infractions, arrests, or conviction records, will not be conducted until after a conditional offer of employment is accepted. We will consider qualified applicants regardless of arrest or conviction records, in accordance with applicable laws.