VP - Senior Underwriter, Agency Affordable Housing

Overview

This role supports complex affordable multifamily lending under Fannie Mae and Freddie Mac affordable housing programs. The Vice President – Senior Underwriter, Agency Affordable Housing will underwrite and execute Agency transactions in accordance with Agency requirements and the organization’s credit standards.

Responsibilities

• Collaborate with the DCUW to ensure adherence to company policies, credit standards, and applicable Fannie Mae and Freddie Mac affordable housing underwriting requirements.
• Review debt application packages for compliance with Agency Affordable Housing program requirements; confirm proposed loan sizing and structure align with applicable program and credit criteria.
• Underwrite complex affordable multifamily transactions, including properties with regulatory or affordability restrictions, rent and income limitations, tax credits, subsidies, and other affordable housing program requirements as applicable.
• Critically assess borrower and sponsor creditworthiness, organizational structure, third-party reports, market conditions, and property financial and physical performance to determine whether borrower and property meet applicable Agency and company requirements.
• Evaluate the impact of affordability restrictions, regulatory agreements, subsidy arrangements, and other property-specific requirements on property operations, cash flow, valuation, and credit risk.
• Ensure accuracy and compliance with applicable Fannie Mae and Freddie Mac Guides, affordable housing program requirements, required forms, underwriting standards, and third-party reports.
• Draft and finalize comprehensive underwriting submission packages that clearly articulate transaction strengths and weaknesses, identify and assess key credit risks, document appropriate mitigants, and request waivers or exceptions when necessary.
• Provide final review and approval of supporting reports and documentation.
• Partner with Origination and other stakeholders to identify potential underwriting, structural, or execution issues early in the transaction and develop appropriate solutions consistent with Agency and company requirements.
• Support the closing process to ensure final loan documentation and transaction structure conform to approved credit terms and applicable Agency requirements.
• Proactively keep the DCUW, Originators, Analysts, Closing, GPO, and other stakeholders informed about transaction progress, outstanding underwriting items, credit concerns, and potential execution risks.
• Provide technical leadership, training, and mentorship to Analysts, Underwriters, GPO, and other team members regarding Agency Affordable Housing underwriting, credit analysis, and program requirements.
• Maintain current knowledge of Fannie Mae and Freddie Mac affordable housing programs, policies, Guide updates, and regulatory developments affecting affordable multifamily lending.
• Participate in Agency training and industry education to maintain expertise in evolving affordable housing programs and underwriting requirements.
• Contribute to process improvements, technology initiatives, and underwriting best practices to improve efficiency, consistency, risk management, and deal execution.
• Perform other duties as assigned.

Preferred Qualifications

• Demonstrated expertise underwriting and structuring Agency affordable multifamily transactions, with strong knowledge of Fannie Mae and/or Freddie Mac affordable housing programs.
• Exceptional credit judgment and demonstrated ability to identify, assess, and mitigate risks associated with complex multifamily transactions.
• Experience evaluating affordable housing structures that may include rent and income restrictions, regulatory agreements, LIHTC, Section 8/HAP contracts, subordinate financing, tax exemptions, and other governmental or subsidy programs.
• Strong understanding of multifamily property financial analysis, borrower/sponsor analysis, valuation, market analysis, third-party reports, and loan structuring.
• Ability to interpret complex transaction structures and understand how affordability requirements and restrictions affect property economics, cash flow, valuation, and long-term credit performance.
• Strong project and transaction management skills, including the ability to independently manage multiple complex transactions and competing deadlines.
• Exceptional attention to detail, analytical ability, communication skills, and ability to work effectively across Origination, Underwriting, Closing, Servicing, Legal, and operational teams.
• Demonstrated ability to mentor and develop junior underwriting professionals and serve as a technical resource on Agency Affordable Housing transactions.

Compensation & Benefits

Benefits include:

• Monthly paid volunteer hours and donation matching to benefit communities
• Employee Resource Groups
• Fertility and family planning services
• Up to 12-weeks of fully paid parental leave
• Mental health care, including free counseling sessions
• Tuition reimbursement
• Pet insurance discounts
• Additional benefits

Location

Remote (with LI-EP1 indicated in the posting).