Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, with over $13 billion in loan originations in 2023. The firm consistently ranks in the Top 10 for Fannie Mae & Freddie Mac multifamily loan originations and is the #1 Overall HUD Multifamily and Healthcare Lender in the country. Greystone also ranks nationally as a top affordable housing, seniors housing, and small balance loan lender. A highly philanthropic company, Greystone donates more than half of its profits to charity each year.

At Greystone, everything we do is driven by our purpose of improving others’ lives. As we work hard to maintain our ranking as a top national commercial real estate lender, our culture of caring and support is just as important. We don’t just say “Where People Matter” – we lead with this mantra every day to guide our actions and behaviors. Greystone is committed to fostering, cultivating, and preserving a culture of inclusion through recruiting and career development practices, creating equity companywide, and exemplifying belonging. Diversity, Equity, and Inclusion is at the heart of our culture of caring, integrity and excellence, and is a driving force behind our entrepreneurial spirit and creativity.  

Greystone is seeking an Underwriter for our Affordable Housing team. The underwriter’s overall responsibility is underwriting a transaction on the Affordable Agency Underwriting Team in compliance with agency guidelines and managing it from commencement through closing.

Primary Duties and Responsibilities:

Responsible for underwriting multifamily affordable housing mortgages on income producing properties across the Freddie Mac and Fannie Mae agency platforms. Perform affordable underwriting and understand the nuances of tax credits, Section 8 housing and various affordable regulatory agreements. Prepare well written narratives and accurate spreadsheets for submission to internal committee and participating agencies for approval. Review due diligence which includes, but not limited to, review of Borrower financial statements and schedule of real estate, comprehensive understanding of third-party reports, ability to analyze different local and national real estate trends (tertiary and large markets), and ability to read and comprehend legal documents, and identifying any significant deal point issues. Travel to various markets as needed to conduct site inspections as well as any training opportunities prepared internally or externally (averaging 2x per month). Attend weekly due diligence calls while working closely with other team members, including analysts, closers, originators and legal counsels.

Experience, Skills, and Abilities Required:

Minimum 3-5 years of Agency multifamily underwriting experience. Bachelor’s/University degree. Proficient with Microsoft based programs including Word and Excel as well as ability to adopt new technology. Experience with underwriting both MAH (Fannie Mae) and TAH (Freddie Mac) various product lines. Ability to handle heavy workloads, work on tight timelines, and manage priorities effectively. Ability to interact with Borrowers in a confident manner and manage their expectations in tandem with production through clear communication to proactively address issues or impediments to timing. Work independently on most deal issues, solve problems at basic to moderate levels. Ability to interact with various Agency management and credit leads.

At Greystone, we believe that finding creative solutions for our clients comes from the collaboration of people with diverse backgrounds and perspectives. We strive to build an inclusive work environment that celebrates differences and empowers all individuals with opportunities to channel their entrepreneurial spirit. Greystone is an EEO employer.

*The firm is the #1* overall HUD multifamily and healthcare lender by firm commitments, and a top 10 Fannie Mae and Freddie Mac multifamily real estate lender.* 

*For HUD's 2024 fiscal year ending September 30, 2024. Based upon combined firm commitments received by Greystone Funding Company LLC and Greystone Servicing Company LLC and excludes risk sharing and hospital loans.*