FHA/HUD Deputy Chief Underwriter – LEAN
- Compensation
- Not disclosed
- Location
- Cleveland, OH
- Work setup
- Onsite
- Seniority
- C level
- Employment
- Contract
- Experience
- Not specified
- Category
- Finance
- Posted
Skills
Must have
- Minimum of seven (7) years of direct experience underwriting FHA-insured multifamily loans, with at least three (3) years in a supervisory or senior leadership capacity.
- Current LEAN-approved Underwriter status with HUD.
- Demonstrated expertise in analyzing market rate and affordable multifamily FHA transactions, with deep knowledge of the LEAN Guide, HUD Handbooks, and FHA underwriting fundamentals.
- Proven experience preparing, reviewing, and quality-controlling HUD-required loan documentation, including underwriting narratives, cost certifications, and firm commitment applications.
- Proficiency in financial modeling and advanced Excel-based analysis for multifamily underwriting.
- Experience reviewing and interpreting third-party reports, including appraisals, market studies, environmental reports (Phase I/II), and physical condition assessments.
- Excellent verbal and written communication skills, with the ability to convey complex underwriting concepts clearly and professionally.
- Strong project management skills with the ability to manage multiple complex transactions simultaneously.
- Bachelor's degree required.
Nice to have
- A degree in Real Estate, Finance, or Accounting is preferred; however, candidates with degrees in other relevant fields will be considered based on experience and qualifications.
- Familiarity with Low-Income Housing Tax Credit (LIHTC) structures and affordable housing regulatory requirements.
- Prior experience managing underwriting teams of four or more professionals.
Full description
Location:
127 Public Square - Cleveland, Ohio 44114
ABOUT KEYBANK REAL ESTATE CAPITAL
KeyBank Real Estate Capital is one of the nation's leading commercial real estate finance platforms, offering a full range of debt and equity solutions for multifamily and commercial properties. Our Commercial Mortgage Group (CMG) is a top-tier FHA lender with a proven track record of originating and servicing FHA-insured healthcare loans across the country. We are committed to delivering exceptional client service while maintaining a disciplined, risk-conscious approach to every transaction.
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JOB BRIEF (PURPOSE)
The FHA/HUD Deputy Chief Underwriter – LEAN is a player-coach role responsible for both individual production and team leadership. This position is expected to independently underwrite complex FHA-insured healthcare transactions — including large portfolios and single-asset loans — while also managing, coaching, and overseeing Senior Underwriters and the broader FHA Underwriting Team. The role provides day-to-day leadership, workflow direction, quality oversight, and training, ensuring transactions are assigned appropriately and executed with a high standard of credit quality, responsiveness, and client service. The Deputy Chief Underwriter serves as a senior underwriting authority, partnering closely with the Chief Underwriter, originators, and HUD to drive sound deal structuring, disciplined risk management, and timely execution across the FHA pipeline.
Please note: This is an on-site position and not eligible for remote or virtual work. The candidate will be required to work from a KeyBank office, with preferred locations including Dallas, TX or Cleveland, OH or Overland Park, KS.
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ESSENTIAL JOB FUNCTIONS
Team Leadership & Pipeline Management
- Lead and manage the FHA Underwriting Team, including Senior Underwriters, Underwriters, Analysts, and Loan Processors; assign transactions, balance workload, and ensure work is distributed appropriately based on deal complexity, experience, and capacity.
- Manage an individual underwriting portfolio while maintaining critical pipeline data and oversight across the broader team to ensure accurate reporting, visibility into deal status, and proactive management of timelines and bottlenecks.
- Coach, mentor, and develop Senior Underwriters and other team members through transaction review, real-time guidance, formal training, and ongoing feedback — with particular emphasis on sound credit judgment, the Lien Guide, HUD program requirements, and FHA underwriting fundamentals.
- Participate in recruiting, hiring, and retaining employees. Lead onboarding efforts to ensure seamless integration of new hires into the team.
- Conduct mid-year and year-end employee performance reviews. Conduct other reviews as necessary to address issues requiring immediate corrective action.