2027 Rotational Analyst Program (HUD)

About the Role

The 2027 Rotational Analyst Program at Berkadia is a 12-month program designed to provide comprehensive onboarding and development for aspiring professionals in the commercial real estate industry. The program focuses on two critical platforms: mortgage banking, investment sales, and underwriting. You will partner with seasoned professionals, senior leadership, and mentors to prepare for a career in the CRE industry.

The program offers rotations in:

• Mortgage Banking/Originations
• Underwriting
• Closing
• Construction Management

Key Responsibilities

• Analyze complex commercial mortgage deals.
• Prepare detailed loan submissions.
• Facilitate the underwriting process.
• Interact directly with borrowers.
• Conduct market research.
• Assist in marketing of products and services to potential clients.
• Support the execution and business for multi-billion-dollar capital markets platforms.
• Receive mentorship and coaching from a program manager, rotation manager, and peer mentor.

HUD/FHA Program Rotations - Specific Tasks

• Mortgage Banking:

• Participate in client meetings and calls.

• Review preliminary loan information and size transactions.

• Add quotes to the internal tracking (CRM) system.

• Prepare borrower-engaged deals for the Underwriting Team.

• Assist in crafting project narratives and presenting potential new projects to HUD field offices.

• Assist in targeting potential new clients/projects.

• Learn and analyze various deal structures for Affordable Housing, Market Rate, Senior’s Housing, Low Income Housing, and Historic Tax Credit Housing.

• Underwriting:

• Support underwriters in executing business.

• Analyze real estate transactions, including collecting and reviewing loan due diligence materials.

• Generate underwriting pro forma cash flows.

• Identify and evaluate risks and mitigants associated with a proposed transaction.

• Prepare formal presentations for loan committee.

• Assist in all aspects of deal processing from application through underwriting and closing.

• Coordinate and monitor loan underwriting tasks performed by offshore resources and external third parties.

• Liaise with lender attorneys to ensure legal complications are resolved.

• Closing:

• Support closers in all aspects of deal closing.

• Monitor and track appropriate closing documentation requirements (tax, repair, insurance).

• Record loan and closing information in the company’s loan system of record.

• Prepare the closing file for delivery to the New Loan Boarding team, and the Investor or document custodian.

• Construction Management:

• Support Loan On-Boarding: Attend Pre-Construction Calls, assist with loan setup, loan document review, and welcome packages.

• Conduct Construction Administration: Process construction draws, change orders, permission to occupy forms, and additional borrower requests.

• Prepare for Final Endorsement: Review Cost Certification Audits, attend Final Endorsement Meetings with legal counsel, and understand the Conversion to Perm process.

• Portfolio Monitoring: Assist with key monthly reporting, metrics, and meetings.

Qualifications

• Upon completion of the 12-month rotational period, candidates will partner with local and program leadership to identify permanent placement into one of the HUD groups, based on career interest, performance, and office needs.

Requirements & Tech Stack

• Technology/Tools: CRM system (for internal tracking).
• Skills: Analyzing complex commercial mortgage deals, preparing detailed loan submissions, facilitating underwriting, borrower interaction, market research, marketing of products and services, understanding of various deal structures (Affordable Housing, Market Rate, Senior’s Housing, Low Income Housing, Historic Tax Credit Housing), loan due diligence, pro forma cash flow generation, risk and mitigant evaluation, deal processing, construction draw processing, cost certification audits.
• Other: Willingness to travel to the local Philadelphia office for the final interview.

Recruitment Process

• Applications open until September 27th.
• Interview process includes 3 phases: recruiter phone screen, verbal case study, and local team assessment.
• Applicants are eligible for final interview in only one office location.
• Final decisions projected for the week of November 16th, 2027.
• Program commences July 2027.

Additional Information

• Berkadia is not offering visa sponsorship for this position.
• The company offers benefits such as monthly paid volunteer hours, donation matching, Employee Resource Groups, fertility and family planning services, up to 12 weeks of fully paid parental leave, mental health care, tuition reimbursement, and pet insurance discounts.