Job Description

Principal, Multifamily Credit and Underwriting Affordable Housing

Join as a Principal responsible for underwriting and credit evaluation of complex affordable housing transactions, ensuring prudent risk management while advancing our affordable housing goals.

Job Description

Our Multifamily Affordable Housing (MAH) Credit & Underwriting team plays a critical role in supporting Fannie?Maes mission by financing multifamily properties that provide affordable housing opportunities across the country. This role is ideal for a seasoned professional with a strong background in multifamily real?estate underwriting, deep knowledge of capital "A" affordable housing programs, and the ability to exercise sound credit judgment in a collaborative and fast?paced environment.

Our Impact

• Deliver liquidity and stability to the affordable housing market by financing properties serving low? and moderate?income renters.
• Underwrite and approve loans that leverage public and private resources, including LIHTC, Section 8, RAD, and other federal, state and local subsidy programs.
• Partner with lenders, developers and housing agencies to create sustainable, mission?driven housing solutions.

Responsibilities

• Serve as a credit approver and underwriting lead on complex and high?visibility MAH transactions.
• Perform in?depth financial, market and property?level analysis to evaluate credit risk and recommend appropriate structures and mitigants.
• Underwrite a range of executions, including LIHTC (4% and 9%), Section 8, RAD conversions, and mixed?income or subsidy?layered properties.
• Partner with production, legal, risk and servicing teams to structure transactions that balance mission and market objectives with sound credit principles.
• Guide and mentor underwriters and analysts, promoting knowledge sharing and excellence in affordable housing credit analysis.
• Identify and address policy, credit or structural issues, providing clear recommendations to senior management.
• Contribute to continuous improvement of MAH underwriting processes, standards and policy guidance.
• Represent Fannie?Mae in discussions with lender partners, sponsors and government or quasi?governmental agencies.

Minimum Required Experience

• 8?years of experience in multifamily real?estate underwriting, credit risk management or loan structuring; 10+?years preferred.
• Proven experience in underwriting or financing affordable housing transactions using LIHTC, Section 8, RAD, HOME or other state/local subsidies.
• Strong financial modeling and analytical skills; ability to assess complex capital stacks and layered financing.
• Deep understanding of affordable housing programs and credit risk fundamentals.
• Ability to synthesize complex issues and communicate clearly with stakeholders.
• Collaborative, solutions?oriented approach to underwriting and credit structuring.
• Demonstrated sound credit judgment and ability to balance mission?driven outcomes with disciplined risk assessment.
• Excellent written and verbal communication skills; ability to clearly articulate credit rationale and recommendations.

Desired Experience

• Bachelors degree or equivalent in Finance, Real Estate, Economics or a related discipline; masters degree or relevant professional credential strongly preferred.
• Skilled in guiding and coaching underwriting teams to achieve performance goals.
• Familiarity with multifamily securitization, capital markets and GSE loan programs.
• Prior experience at a GSE, financial institution or affordable housing syndicator.

Target Pay Range

$172,000 $234,000 per year

Qualifications

Education: Bachelors Level Degree (Required)

Employment Information

Seniority level: Mid?Senior level
Employment type: Full?time
Job function: Finance and Sales

EEO Statement

Fannie?Mae is an equal opportunity employer and considers qualified applicants for employment without regard to race, color, religion, sex, national origin, disability, age, sexual orientation, gender identity/gender expression, marital or parental status, or any other protected factor. Fannie?Mae is committed to providing reasonable accommodations to qualified individuals with disabilities who are employees or applicants for employment, unless to do so would cause undue hardship to the company. If you need assistance using our online system and/or you need a reasonable accommodation related to the hiring/application process, please complete this form.

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