The Underwriter IV - Agency will work with Fannie Mae Multifamily Affordable Housing and Freddie Mac Targeted Affordable Housing products, performing review and analysis of 3rd party reports and property site inspections. The role requires knowledge of IRS Code Section 42 and 47, equity structures and documentation, market research, and 3rd party or external guidelines. The candidate will work independently with little or no oversight, exercising exception and elevated approval authority, and will interact with internal/external customers, providing recommendations for credit structuring and serving as a subject matter expert for certain asset classes.
Requirements
- Intimate knowledge of Fannie Mae Multifamily Affordable Housing and Freddie Mac Targeted Affordable Housing products
- Performs review and analysis of 3rd party reports including Environmental, Property Condition Assessment, Plan and Cost Review, Appraisal, and Market Study
- Performs property site inspections in accordance with PNC, Fannie Mae and Freddie Mac requirements
- Works independently with little or no oversight
- Exercises exception and elevated approval authority
- Prepares offerings for all types of transactions at any level of complexity or in management of a portfolio as assigned
- Interacts with internal/external customers
- Provides recommendations for credit structuring
- Serves as subject matter expert for certain asset classes
- Serves as a coach, work lead and trainer for the group
- Using independent judgment to identify risks and mitigants, prepares offerings and/or scorecards, such as risk ratings, by analyzing credit, collateral strength and financial worthiness of loan/transaction parties
- If relevant, performs ongoing credit risk management for assigned portfolio
- Coaches and/or reviews the work of other underwriters and fills in for manager as required
- Contacts internal/external customers and other parties as appropriate to gather information and to clarify inconsistent, incorrect or missing information
- May perform relevant pre-approval and post-approval activities
- Identifies and/or confirms all external regulatory requirements
- Ensures internal policies/procedures are followed
- Makes recommendations on credit decisions or makes credit decisions directly, as appropriate
- Knowledge of IRS Code Section 42 and 47, equity structures and documentation, market research (including onsite inspections and market comp analysis), and 3rd party or external guidelines
Benefits
- Medical/prescription drug coverage (with a Health Savings Account feature)
- Dental and vision options
- Employee and spouse/child life insurance
- Short and long-term disability protection
- 401(k) with PNC match, pension and stock purchase plans
- Dependent care reimbursement account
- Back-up child/elder care
- Adoption, surrogacy, and doula reimbursement
- Educational assistance, including select programs fully paid
- A robust wellness program with financial incentives
- Maternity and/or parental leave
- Up to 11 paid holidays each year
- 9 occasional absence days each year, unless otherwise required by law
- Between 15 to 25 vacation days each year, depending on career level
