Deputy Chief Underwriter of Affordable Housing
Northmarq
Minneapolis or Washington DC, MN
Salary Estimate: Confidential
Employment Type: Full Time
Work Place: Office
Experience Required: 7+ to 10 years
Education Required: 4 Year College
Job Description
Deputy Chief Underwriter of Affordable Housing
Location: Northmarq Minneapolis office or Northmarq Washington DC office
Location: Northmarq Minneapolis office or Northmarq Washington DC office
NORTHMARQ - WHERE THE BEST COME TO THRIVE
Northmarq is entering a new era, and a landmark career opportunity is waiting for you. Northmarq is independent, and fiercely so, with the freedom to do things the right way. To hire the very best. To give them the resources to thrive. We do it because that’s what we believe. Northmarq is not held back by principles, we’re propelled by them. We and our clients are growing fast because we’re providing something rare and valuable: easy access to the industry’s best talent, an agile and collaborative style, and vast resources to execute flawless deals for our clients and partners.
Northmarq was voted by Real Estate Forum as one of The Best Places to Work in Commercial Real Estate!
Northmarq is seeking a Deputy Chief Underwriter of Affordable Housing to support the Capital Services team within Northmarq. The Deputy Chief Underwriter will be joining an active and successful Capital Services team to manage the quoting and underwriting aspects of the pipeline of Fannie affordable loans and assist with Freddie Mac affordable transactions. Such duties include sizing and obtaining quotes on potential affordable deals, tracking of underwriting progress; overall loan risk analysis; credit decisions; resolution of deal specific issues; staffing and supervision of the Underwriting team; performing duties cognizant of the mandates of Fannie Mae and Chief Underwriters.
Northmarq provides debt, equity, investment sales and loan servicing to commercial real estate owners and investors through our 40 offices across the U.S. Northmarq is privately owned, we are part of the Pohlad Companies family of businesses. www.northmarq.com
Essential Job Functions (Duties/Responsibilities)
- Monitor and manage the due diligence, screening, and underwriting process through closing, establishing policies and practices as it relates to the multi-family program and enforcing agency program requirements.
- Review and track pipeline progression of all loans, providing direction to staff when necessary
- Coordinate with DUS production management team to price transactions during quoting, underwriting, and at rate lock.
- Monitoring the progress of the legal due diligence from Closing to ensure all parties are in sync.
- Manage and Train underwriters and analysts on new various programs, ensuring the quality of submissions of loans to multi-family, assigning new transactions to underwriters and establishing work priorities, while also monitoring the job performance and career development of staff.
- Implementing Credit Policy/Seller Servicer Guide changes related to affordable housing and the coordination and tracking of feedback in relation to potential policy changes.
- Developing, implementing, and monitoring quality control standards for multi-family affordable housing loan processing, serving as a liaison with the various regional offices:
- Remain up to date on Fannie Mae requirements by involvement in Fannie Mae committees and industry events.
- Maintain correspondence within underwriting, Closing, Credit Committee, and Northmarq Production at all times and assist with managing Borrower expectations.
Qualifications
Education: Bachelor's degree; Finance, Real Estate or related preferred. Masters a plus.
Experience: Minimum 7 years of Fannie Mae and affordable underwriting experience including the Fannie MTEB program.
Demonstrated Professional Competencies to include:
- Proven ability to supervise, train and/or lead others
- Strong analytical, organizational, communication skills are necessary.
- Ability to handle multiple projects and assignments; able to prioritize and meet deadlines required.
- Problem-solving skills to reflect level of responsibilities
- Ability to maintain sensitive and confidential information.
Related Jobs
Washington, DC
Post Date: 08/07/2025
Expires: 09/21/2025
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