Underwriting Analyst - Fannie/Freddie Underwriting, Commercial Mortgage Group

Location:

127 Public Square, Cleveland Ohio

About the Job

The Underwriting Analyst will provide high-level quantitative and strategic support to the Fannie Mae and Freddie Mac Underwriting teams within the Commercial Mortgage Group (CMG). This role is integral to the execution of multifamily real estate transactions and will involve the preparation of deliverables in Excel, Word, and PowerPoint for various purposes, including financial spreading, narrative development, and organizational structuring. The Analyst will also participate in site inspections and contribute to transaction management.

Primary Responsibilities

Strategic Contribution : Actively contribute analytical insights, market intelligence, and innovative ideas to support the underwriting team's financial objectives and complement team strengths.

Relationship Development : Cultivate internal and external relationships to facilitate effective real estate transactions aligned with CMG's strategic goals.

Underwriting Process Adherence : Consistently follow established underwriting protocols for Fannie Mae and Freddie Mac transactions to ensure diligence, efficiency, and compliance.

Documentation Review and Support : Although the primary focus is on Fannie/Freddie underwriting, the Analyst may assist in preparing exhibits and forms for Agency submissions when applicable.

Transaction Management : Serve as the driver of assigned transactions, ensuring timely completion and proper documentation of risks in accordance with credit approval standards.

Team Collaboration : Maintain transparent and collaborative relationships with all stakeholders, ensuring full disclosure of transaction risks and open communication.

Compliance Execution : Complete all compliance-related requirements for each transaction to mitigate risk.

Supplementary Functions

Provide industry, market, and business analysis, including ad-hoc financial reporting and strategic insights.

Engage in continuous improvement initiatives and recommend process efficiencies.

Participate in special projects as assigned.

Maintain an on-site presence at the designated KeyBank location five days per week.

Required Qualifications

Bachelor's degree, preferably in Finance, Accounting, Business Administration, Economics, or Real Estate.

Advanced proficiency in Microsoft applications such as Word and Excel including experience with complex financial models.

Strong quantitative and analytical skills with the ability to interpret financial data across multiple platforms.

Demonstrated ability to synthesize large datasets and communicate findings effectively.

High attention to detail and analytical problem-solving capabilities.

Ability to operate in a fast-paced environment with a proactive and goal-oriented mindset.

Strong organizational skills and ability to manage multiple tasks concurrently.

Consultative and service-oriented approach.

Excellent oral, written, and presentation communication skills.

Preferred Qualifications

MBA or equivalent advanced degree.

Familiarity with business intelligence tools.

Prior experience in commercial real estate lending, particularly with CMBS, Life Insurance programs, Fannie Mae DUS, Freddie Mac, or FHA lending platforms.

Tools and Equipment

Standard office equipment including PC, copier, scanner, and financial calculator.

COMPENSATION AND BENEFITS

This position is eligible to earn a base salary in the range of $69,000.00 - $105,000.00 annually. Placement within the pay range may differ based upon various factors, including but not limited to skills, experience and geographic location. Compensation for this role also includes eligibility for incentive compensation which may include production, commission, and/or discretionary incentives.

Please click here ( for a list of benefits for which this position is eligible.

Key has implemented an approach to employee workspaces which prioritizes in-office presence, while providing flexible options in circumstances where roles can be performed effectively in a mobile environment.

Job Posting Expiration Date: 01/20/2026

KeyCorp is an Equal Opportunity Employer committed to sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, pregnancy, disability, veteran status or any other characteristic protected by law.

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing [email protected].

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KeyBank is an organization collectively committed to helping you unlock your potential and discover what truly drives you. Working here means sharing our purpose to help our clients, colleagues, and communities thrive. You'll find genuinely supportive teammates, a flexible, inclusive work environment, challenging projects, accessible leaders, and opportunities to grow in your position and your career. For 200 years, Key has opened doors in our communities. Let us open one for you.