Underwriter

Department:

Affordable Underwriting

We are Walker & Dunlop. We are one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities — where people live, work, shop, and play — to life. We are committed to creating meaningful social, environmental, and economic change in our communities.

Department Overview

Walker & Dunlop’s Affordable Housing Group is recognized as a leader in the industry. With multiple business lines including Debt, LIHTC Equity, Affordable Investment Sales, Preservation, Affordable Development and Capital Advisory services, this team of over 200 professionals has a wide array of expertise across the entire capital stack in affordable housing. Our team is on a mission to improve our nation’s affordable housing stock and ensure people have access to stable, quality, and safe housing. We do that by providing services and capital for the development and preservation of all types of affordable housing across the United States. Our unique platform drives strong financial returns for clients and supports the development of thriving communities where people can afford to live where they work, shop, and play.

The Impact You Will Have

As an Underwriter in the Affordable Underwriting department, you will play a key role in evaluating, structuring, and approving multifamily mortgage transactions within the company’s affordable housing and agency lending platforms.

You will lead the underwriting process with a focus on sound credit judgment, deep knowledge of affordable housing programs, and alignment with company and agency requirements. Your expertise in underwriting will ensure that each transaction is analyzed, structured, and executed with precision and integrity—from quote through closing and loan delivery.

Your work will directly support the company’s mission to provide responsible financing solutions for affordable housing while helping to achieve our loan production and quality goals.

Primary Responsibilities

• Lead the underwriting process for affordable multifamily transactions upon receipt of a borrower’s application and fee.
• Establish underwriting timelines in coordination with the loan officer and closing coordinator.
• Oversee preparation of borrower checklists and ensure timely receipt of required documentation.
• Select and manage third-party vendors (e.g., appraisers, engineers, environmental consultants).
• Conduct comprehensive due diligence, including review of property markets, borrower financial capacity, and credit history.
• Critically evaluate appraisals, engineering, environmental, and other reports for accuracy and risk implications, particularly within affordable housing contexts.
• Prepare detailed analytical narratives and credit memoranda for submission to the Chief Underwriter and Loan Committee.
• Conduct property and market inspections as needed (frequent business travel required).
• Present findings and recommendations to the Loan Committee with clarity and confidence.
• Supervise and mentor an underwriting analyst, providing training and guidance on affordable housing credit analysis and underwriting best practices.
• Manage analyst timecards, PTO, and workload prioritization, and participate in performance reviews.
• Collaborate effectively with internal teams, clients, and vendors to address challenges and maintain workflow efficiency.
• Maintain thorough understanding of agency guidelines, affordable housing regulations, and company underwriting policies.
• Ensure compliance with all representations, warranties, and documentation standards at loan closing.
• Support a culture of professionalism, collaboration, and continuous improvement within the underwriting team.
• Perform other duties as assigned.
• Attendance is generally required from 8:30 am – 5:30 pm local time, Tuesday through Thursday, with the option to work remotely on Mondays and Fridays.

Education and Experience

• Bachelor’s degree required.
• 3+ years of underwriting experience, with specific experience in affordable housing finance (LIHTC, Section 8, tax-exempt bonds, or similar programs) preferred.
• Direct underwriting experience with Fannie Mae and Freddie Mac affordable products preferred.
• Proven ability to manage complex transactions and mentor junior staff.

Knowledge, Skills, and Abilities

• Strong analytical and quantitative skills; able to make sound decisions with incomplete or nuanced data.
• Excellent written, verbal, and presentation skills, with the ability to communicate complex affordable housing structures clearly.
• Demonstrated leadership and ability to manage multiple priorities in a fast-paced environment.
• Proactive and solution-oriented mindset with a drive for innovation and continuous improvement.
• In-depth knowledge of affordable housing programs, market dynamics, and compliance requirements.
• Collaborative, professional, and respectful in all interactions with colleagues, clients, and partners.
• Ownership mentality with a commitment to accuracy, quality, and accountability.
• Ability to show ownership of your work, embrace challenges and growth opportunities, and demonstrate patience when learning new processes.
• Demonstrates courtesy, respect, and thoughtfulness when teaming with colleagues and collaborating with stakeholders.

This position has an estimated base salary of $80,000 - $100,000 plus discretionary bonus. An employment offer is based on the applicant’s relevant work experience, applicable knowledge, skills, abilities, internal equity, and alignment with market data.

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What We Offer

• The opportunity to join one of Fortune Magazine’s Great Places to Work winners from 2015-2023

• Comprehensive benefit options* that have earned Walker & Dunlop the silver level of the 2022 Cigna Healthy Workforce Designation™, some of which include:
  - Up to 83% subsidized medical payroll deductions
  - Competitive dental and vision benefits
  - 401(k) + match
  - Pre-tax transit and commuting benefits
  - A robust health and wellness program – earn cash rewards and gain access to resources that
  promote health, engagement, and balance
  - Paid maternity and parental leave, as well as other family paid leave programs
  - Company-paid life, short and long-term disability insurance
  - Health Savings Account and Healthcare and Dependent Care Flexible Spending

• Career development opportunities

• Empowerment and encouragement to give back – volunteer hours and donation matching

*Eligibility may vary based on average number of hours worked

EEO Statement

We are committed to equity in all steps of the recruitment and employment experience. We believe in equal access to opportunities in our workplace. We do not tolerate discrimination, including harassment, based on any characteristic protected by applicable law, such as race, color, national origin, religion, gender identity, sexual orientation, sex, age, disability, veteran or military status, and genetic information, or any other characteristic protected by applicable law. We strive to be a safe place to ask questions, build professional relationships, and develop careers.

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