1/10/17

Interviewing for an underwriting analyst role with a multifamily lender. Debt side role involving analyzing, processing and packaging multifamily and commercial loans. I eventually want to go into development or acquisitions. Not sure if this role would really be a good step in the right direction for me.

I graduated undergrad about a year ago and currently work in back office for loan servicing at a boutique RE firm.

Comments (12)

1/11/17

Seems like a good step to me. Easier lateral to acquisitions than development, given that your value-add proposition to a new firm will likely be engineering specific financing structures for deals based on your experience in loan-world. It will be an Accretive experience nonetheless, and I don't see why you couldn't leverage your experience into development as well. Plenty of people on these forms make the jump to either from brokerage, loan sales, etc. so wouldn't worry too much about it.

Financial Modeling

1/11/17

Curious as to why you you'd think a UW role with a multifamily lender would translate better to acquisitions than development?

I feel Lending (if it's with a top bank/lifeco not some community bank) transitions better to development especially if you are are working on all different types of loans (acquisition and especially affordable housing and construction loans). I have always felt that Acquisitions roles are mainly scooped up by REIB or guys from top brokerage shops. Obviously there's exceptions with debt guys from say a top shop like WF transitioning and how well you network.

1/11/17

I would have to think that getting into an equity side position would make for a better/more likely transition. I don't know how true it is but I hear people saying that if your on the debt side for too long you get pigeon held.

1/11/17

I hear this too, but what's the timeline you think? 5 years in the lending role and it begins to be tougher to transition to equity/development as opposed to transitioning 3 years out? Or is this further out in the 7 year mark?

I'm curious specifically for those in the relationship manager role. I'm sure if you're on the client facing side of the lending business it's a lot easier than if you're in an underwriter or credit role.

1/11/17

Hell of a step up from loan servicing. It may pigeonhole you a bit toward looking at multifamily roles if and when you look to move on, given you'll have a lack of knowledge of other product types. That said, unless you're actively comparing it to another live option, take it.

1/11/17

It involves a major relocation across the country, which I'm not sure about considering that its one property type and debt focused. I'm thinking of continuing to focus my search more on roles with developers because I've seen people do it early on in their career.

On the other hand, this same company has an acquisitions role, they're not looking to hire quite yet. They're early on in it compared to this one and I kind of want to hold out for that one. Would it be better to hold out for that one?

1/11/17

no reason to settle so early. I think its better to take your time to find the right role for the long term.

1/11/17

My thoughts exactly. I'm fairly early on in my job search and I want to hold out for this acquisitions role if I can, or another similar one.

1/11/17

You are currently interviewing for the lending role, and they let you know there would be an upcoming acquisitions role?

1/11/17

I applied online to the underwriting and the acquisition roles at the same time. The recruiter reached out to me about the underwriting role and i asked if my application had also been seen for the acquisition role. And at the moment they're looking to fill the underwriting role.

1/11/17

Take it unless you really don't want to live in the market the job is located in. Even then, as mentioned above, unless you have other live offers take your shot to make a great step up outta loan servicing.

I think it is completely reasonable to think you could make a move out of that underwriting role into Acq/AM at some point.

Best Response
1/11/17
Add a Comment
WallStreet Prep Master Financial Modeling