Agency Sr. Underwriter – Affordable

KeyCorp
Dallas, Cleveland, Kansas, Atlanta, Chicago
Workplace: OnsiteFull timeUSD 96,000 - 181,000 annuallyFunction: Banking, Lending & CreditExperience: 5+ yearsEducation: bachelorsSkills: ["Communication","Organizational skills","Time management","Initiative","Leadership","Conflict resolution"]

Underwrite affordable multifamily mortgage loans across Fannie Mae, Freddie Mac, and Private Placement programs, conducting thorough due diligence and risk-conscious analysis. Deliver service to internal and external clients by evaluating complex borrower structures, reviewing third-party reports, assessing construction budgets, and writing clear underwriting narratives. Support cross-functional teams within the Commercial Mortgage Group, ensure compliance with Agency guidelines, and lead underwriting teams to meet transaction and departmental goals.

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FursaFursa
KeyCorp
KeyCorp
1 day ago

Agency Sr. Underwriter – Affordable

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Job Summary

Underwrite affordable multifamily mortgage loans across Fannie Mae, Freddie Mac, and Private Placement programs, conducting thorough due diligence and risk-conscious analysis. Deliver service to internal and external clients by evaluating complex borrower structures, reviewing third-party reports, assessing construction budgets, and writing clear underwriting narratives. Support cross-functional teams within the Commercial Mortgage Group, ensure compliance with Agency guidelines, and lead underwriting teams to meet transaction and departmental goals.
Location: Dallas, Cleveland, Kansas, Atlanta, Chicago
Workplace: Onsite
Employment Type: Full time
Job Function: Banking, Lending & Credit
Seniority: Mid level

Key Responsibilities

  • •Perform comprehensive due diligence and underwriting for affordable multifamily mortgage loans, ensuring transactions are well-underwritten and risk-conscious.
  • •Apply LIHTC and bond financing program knowledge to assess transaction viability and evaluate compliance risks proactively.
  • •Review third-party reports for programmatic compliance and provide timely, actionable feedback to vendors.
  • •Conduct property inspections and market analysis, and analyze complex borrower structures and key participants.
  • •Lead underwriting teams for affordable housing transactions, manage internal underwriting/deal management systems, and collaborate with origination, closing, and servicing teams to ensure compliance with Agency guidelines.

Pay and Benefits

Salary: USD 96,000 - 181,000 annually

Key Requirements

  • •Bachelor’s degree required.
  • •5+ years of experience underwriting affordable housing loans, including Fannie Mae, Freddie Mac, and Private Placement programs.
  • •Demonstrated expertise analyzing affordable multifamily real estate transactions with strong underwriting fundamentals.
  • •Excellent verbal and written communication skills to clearly convey complex information.
  • •Proficiency underwriting according to established policies and procedures, with knowledge of lending program requirements and compliance risk identification.
Experience:5+ yearsAffordable housingMultifamily real estateFannie MaeFreddie MacMortgage lending
Education:Bachelor's
Skills:CommunicationOrganizational skillsTime managementInitiativeLeadershipConflict resolution
Tech Stack:Microsoft WordMicrosoft ExcelMicrosoft OutlookAdobe AcrobatExcel-based financial modelingFinancial calculators

Company Brief

KeyCorp
KeyCorp operates KeyBank, providing retail and commercial banking, lending, wealth management, and investment services to individuals, businesses, and institutions across the United States.
Industry: Banking
Company Size: Enterprise (1,001+ employees)
Revenue: USD 1B+
Growth: Public Company
Valuation: Public Company (Market Cap in USD)
Funding: IPO / Publicly Listed
Headquarters: Cleveland, United States
Founded: 1849
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