VP, MF Conventional Underwriting

Company Description

At Fannie Mae, futures are made. The inspiring work we do helps make a home a possibility for millions of homeowners and renters. Every day offers compelling opportunities to impact the future of the housing industry while being part of an inclusive team thriving in an energizing, flexible environment. Here, you will grow your career and help create access to fair, affordable housing finance.

Job Description

The VP, MF Conventional Underwriting (East) will direct and co-manage the strategic credit decision-making process for Conventional MF products with the VP MF Conventional Underwriting (West). This leader will report directly to the SVP, Chief Underwriter for Multifamily and will oversee a staff of more than 25 underwriters responsible for quoting transactions in the Northeast (NE) and Southeast (SE) Fannie Mae credit regions originating between $20-$25B/year in new Multifamily transactions.

THE IMPACT YOU WILL MAKE

This VP, MF Underwriting role will offer you the flexibility to make each day your own, while working alongside people who care so that you can deliver on the following responsibilities:

• Lead and oversee work of employees aligned to the Northeast and Southeast MF Credit Underwriting (CU) Team and ensure standards for credit quality are met on all incoming transactions, approving, and documenting variations to credit standards as necessary.
• Set measurable goals for team members and ensure they have the resources needed to achieve them.
• Develop policies, credit guidance, and methodologies with the CU Leadership team; and ensure incoming book of business conforms to corporate risk tolerance parameters and limits.
• Engage with Research and Analytics to guide the development of risk measures, coordinate risk research and analyses.
• Work with Enterprise Risk Management to develop risk policies, standards and guidelines. Perform quarterly reviews and updates of Multifamily DUS Guide and Underwriting Standards.
• Partner with Product Development to assess and implement updates to Conventional products as needed monitor their impact on MMB book of business.
• Communicate MF CU priorities and risk considerations to relevant stakeholders including DUS Lenders, FHFA and internal risk partners.
• Lead and manage various division-wide projects.

Qualifications

THE EXPERIENCE YOU BRING TO THE TEAM

• At least 10 years’ demonstrable experience in underwriting multifamily loans including seniors housing, cooperatives, and manufactured housing. Experience with preferred equity structures in the multifamily industry.
• A background working in MF underwriting in connection with Agency business (Fannie or Freddie) and knowledge of the DUS lender ecosystem is preferred. 
• Experience working with rent control and stabilization laws in New York City and other applicable markets. 
• Ideally 8+ years of people leadership experience and a commitment to talent development. 
• Strong executive communication and influencing skills; a proven track record of building both internal and external relationships. 
• Strong analytics acumen, ideally experience working with data visualization tools (Tableau, MS Excel, and others).
• Deep credit risk experience.
• Bachelor's degree required, preferably in Business Administration or a related field. 
• Master's degree preferred, preferably in Real Estate Finance/Development, Urban Planning/Policy, Affordable Housing, Community Development, Business, Operations, Finance, or a related field. 

Additional Information

The future is what you make it to be. Discover compelling opportunities at careers.fanniemae.com.
Fannie Mae is an Equal Opportunity Employer, which means we are committed to fostering a diverse and inclusive workplace. All qualified applicants will receive consideration for employment without regard to race, religion, national origin, gender, gender identity, sexual orientation, personal appearance, protected veteran status, disability, age, or other legally protected status. For individuals with disabilities who would like to request an accommodation in the application process, email us at [email protected].

The hiring range for this role is set forth on each of our job postings located on Fannie Mae's Career Site. Final salaries will generally vary within that range based on factors that include but are not limited to, skill set, depth of experience, certifications, and other relevant qualifications. This position is eligible to participate in a Fannie Mae incentive program (subject to the terms of the program). As part of our comprehensive benefits package, Fannie Mae offers a broad range of Health, Life, Voluntary Lifestyle, and other benefits and perks that enhance an employee’s physical, mental, emotional, and financial well-being. See more here.