Director, Conventional Production Underwriting

Purpose and Job Summary

The New Jersey Capital Markets Team of Lument, is seeking a Director of Conventional Production Underwriting for its growing Agency, FHA, and proprietary loan product platform. This unique, exciting, and fast-paced position will report directly to the Managing Director (“MD”) of Capital Markets New Jersey Office and will be primarily responsible for the review of conventional multifamily and MHC loan requests throughout the nation.  The Director will also be responsible for the supervision and preparation of loan submissions to Lument’s Agency credit team and will serve as a liaison for the production team to both internal credit and the Agencies (Fannie and Freddie). 

The Director will make informed underwriting recommendations, provide guidance to the MD, assist on agency loan screenings, term sheet/application preparations, prepare submission narratives, and ensure a highly efficient loan process from quote to close. 

A minimum of five to seven years of Agency underwriting experience as a Senior Production Underwriter, Agency Production Deal Manager, or Deputy Chief Underwriter is strongly preferred.

Essential Duties & Responsibilities

·       Works with both Lument’s production and credit underwriting teams for preparation and submission of loan presentations to the agencies, FHA, and balance sheet/proprietary programs.

·       Oversees and assists with the front-end screening of loan requests and determines the merit and viability of the requests.

·       Works collaboratively with the underwriting platform to problem solve and develop creative transaction structuring solutions while delivering best-in-class execution and client experience.

·       Assess transaction risks to provide mitigation strategies and deal structuring recommendations.

·       Reviews loan applications, commitments, rate lock documents, and other documents as necessary to ensure consistency between loan quotes and final terms.

·       Reviews third-party reports (appraisals, PCAs and ESAs) for accuracy and completeness.

·       Reviews and submits waivers and pre-review submissions for credit review.

·       Develops, interfaces, and maintains strong relationships with Fannie Mae and Freddie Mac representatives.

·       Initiates and facilitates process enhancement concepts and business development ideas.

·       Manages production underwriting and screening assignments and tracks regional pipeline within timing benchmarks.

·       Summarizes historical property operations and performs credit and financial analysis of key principals and guarantors.

·       Drives production and revenue results by supporting the production officers.

·       Attends and represents the company at conferences, events, and other meetings as appropriate.

·       Keeps abreast of existing and new products being developed in the marketplace and stays informed of key industry trends and products being offered by competitors.

Education, Skills & Experience

·       Bachelor or Master’s degree with a concentration in Finance, Real Estate, Economics, and/or Business.

·       Stellar credit reputation and industry experience with a thorough understanding of agency loan programs and underwriting criteria.

·       Excellent proficiency with MS Excel, Word, PowerPoint, and web-based applications such as REIS, RCA, Yardi, and CoStar.

·       Exceptional relationship-building skills.

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