2023 Rotational Real Estate Analyst, HUD

The Opportunity

Are you an early career professional seeking an opportunity to grow your skills and build your career while shaping the future of the Commercial Real Estate (CRE) industry? If so, consider applying for Berkadia’s Rotational Analyst Program! We’re seeking two HUD/FHA Multifamily Financing Rotational Analysts to join our 2023 cohort, starting in July, 2023.

(HUD – Housing and Urban Development / FHA – Federal Housing Administration)

The Program Details

Berkadia’s Rotational Analyst Program is changing the way the industry trains and develops early career CRE analysts around the many facets of the production business. As a Rotational Analyst, you’ll engage in a comprehensive onboarding experience where analysts will be introduced to:

  • Berkadia’s culture;
  • Client-facing business segments;
  • Supporting groups and technologies;
  • Berkadia employees, ranging from analysts through members of executive leadership

During the 12-month rotational program, you will have four, 3-month rotations in Mortgage Banking/Originations, Underwriting, Closing and Construction Loan Servicing. You’ll play a critical role in executing and supporting business for our multi-billion-dollar capital markets platforms. Along the way, you’ll receive mentorship and coaching from a program manager, rotation manager, and peer mentor. 

The HUD/FHA Program Rotations

While supporting Mortgage Banking, you will focus on reviewing and evaluating new loan opportunities and serve as a key point of contact for tracking the progress of those opportunities through the loan cycle. Example tasks in Mortgage Banking include:

  • Participating in the Mortgage Banking origination team’s client meetings and client calls;
  • Reviewing preliminary loan information and excel sizing transactions with the product originations team;
  • Adding quotes to internal tracking (CRM) system;
  • Preparing borrower engaged deals for handoff to the Underwriting Team.

While supporting Underwriting, you will evaluate engaged loans, prepare HUD required exhibits, and assist in the closing and delivery of approved loans. Example tasks in Underwriting include:

  • Supporting underwriters (including Deputy Chief Underwriters and Chief Underwriter) in executing business;
  • Analyzing real estate transactions, which includes assisting in the collection and review of loan due diligence materials, the generation of underwriting pro forma cash flows, identifying and evaluating risks and mitigants associated with a proposed transaction, and preparing formal presentations for loan committee;
  • Assisting in all aspects of deal processing from application through underwriting and closing to delivery of the loan to servicing and/or investor;
  • Coordinating and monitoring loan underwriting tasks performed by offshore resources as well as external third parties to ensure timely and accurate delivery of work product.
  • Liaising with lender attorney to ensure legal complications are resolved

While supporting Closing, you will evaluate loans for which a HUD commitment has been received and assist in the closing and delivery of approved loans.  Example tasks in Closing include:

  • Supporting Closers (including Team Leads and VP, FHA Closing) in all aspects of deal closing
  • Monitoring and tracking appropriate closing documentation requirements (tax, repair, insurance)
  • Recording loan and closing information in the Company’s loan system of record
  • Preparing the closing file for delivery to the New Loan Boarding team, and the Investor or document custodian

While supporting Construction Loan Servicing, you will evaluate closed construction loans, assist with bringing the loans to final endorsement, and monitor the team’s portfolio. Example tasks in Construction Loan Servicing include:

  • Supporting Loan On-Boarding: Attending Pre-Construction Call, Assisting with Loan Setup, Loan Document Review and Welcome Package.
  • Conducting Construction Administration: Processing of Construction Draws, Change Orders, Permission to Occupy forms and additional Borrower Requests.
  • Preparing for Final Endorsement: Reviewing of Cost Certification Audits, Attend Final Endorsement Meetings with Legal Counsel and Develop understanding of Conversion to Perm process.
  • Portfolio Monitoring: Assist with key Monthly Reporting, Metrics and Meetings.

Upon completing the 12-month rotational period, you will partner with local and program leadership to identify permanent placement into one of the HUD groups as determined by career interest, performance, and office needs. 

What you will need to be successful for this role:

  • Bachelor’s degree or equivalent;
  • Proficiency in Microsoft Office including Outlook, Word, PowerPoint, and Excel;
  • Strong organizational skills and ability to multitask in a fast-paced environment with competing priorities;
  • Outstanding attention to detail;
  • Ability to manage expectations, informing stakeholders of potential delays due to conflicting priorities;
  • Can-do, proactive attitude that can mean making suggestions and giving options rather than waiting for answers;
  • Able to communicate clearly both verbally and in writing with all levels of an organization.


The base salary for this position is $70,000.


Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Powered by deep relationships and industry-changing technology, our people sell, finance, and service commercial real estate, providing support for the entire life cycle of our clients’ assets. Our unique ownership structure allows us to put the client’s interests first and creates a marketplace that delivers a superior experience.

Berkadia complies with the law regarding reasonable accommodations for disabled applicants.  Applicants who require reasonable accommodations to participate in the interview process should contact Emma.Petersen@berkadia.com to arrange for such accommodations.

Berkadia is an Equal Opportunity employer and complies with all applicable Federal, State and local laws concerning discrimination in employment.  No question in this Application is intended to elicit information in violation of any such law, nor will any information obtained in response to any question be used in violation of any such law.

By applying to this job opportunity you are acknowledging Berkadia’s Application Policy and Berkadia’s Privacy Policy. Applicants have rights under Federal Employment Laws. Please click the following links for more information: EEOC, Employee Rights under the FMLA, EPPA.