HUD Lean Underwriter

Job description

We are currently seeking a HUD Lean Underwriter to join our JLL Capital Markets-Multifamily Debt Team . The Underwriter must have received their Lean Certification from HUD, possess extensive knowledge of HUD Lean Financing programs, demonstrate attention to detail, organization and analytical orientation, and possess the initiative to work in an independent and reliable manner.

The HUD Lean Underwriter will provide exceptional service to our clients and underwrite multifamily/healthcare products.  The Underwriter 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 demonstrate knowledge of HUD Section 232 program requirements; HUD Multifamily underwriting knowledge and experience is also preferred.

The position will be based in our Columbus, OH or St. Paul, MN office and will report to the FHA Chief Underwriter-Healthcare.

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 HUD Section 232 guidelines and offer direction to the team for guide compliance, establish underwriting/closing timeline, and make borrower introductions.
·  Manage customer satisfaction and maintain 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 Section 232 transactions.
·  Review of specialized documents such as ground leases, regulatory agreements, provider agreements, A/R financing agreements and organizational documents.
·  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.
·  Create and foster relationships with HUD personnel.
·  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 Analysts and Processors.
·  Additional duties as deemed necessary by management.

Qualifications Required:

·  Knowledge of Microsoft Office (Word, Excel, Outlook, PowerPoint)
·  Willingness and ability to learn new technology
·  Ability to work independently, unsupervised, and as a team player
·  Excellent interpersonal, communication, problem-solving and organization skills. 
·  Strong time management skill 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 with the ability to audit own work
·  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. The 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 travel (including but not limited to planes, trains and automobiles) to different time zones and may require overnight lodging.

Education:

Undergraduate degree in a business-related field (i.e. Finance, Accounting, Real Estate, Business)

Required:

HUD Lean Approval

Preferred:

3 + years of analytical and financial modeling skills

3 + years of experience in an investment environment or related experience

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