FHA Underwriting Intern

Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, with $13 billion in loan originations in 2025. The firm consistently ranks in the Top 10 for Fannie Mae & Freddie Mac by multifamily loan volume and is the #1* Overall HUD Multifamily and Healthcare Lender in the country. Greystone also ranks nationally as a top affordable housing, seniors housing, and small balance loan lender. At Greystone, charity is at the heart of who we are and what we do.

At Greystone, everything we do is driven by our purpose of improving others’ lives. As we work hard to maintain our ranking as a top national commercial real estate lender, our culture of caring and support is just as important. We don’t just say “Where People Matter” – we lead with this mantra every day to guide our actions and behaviors. Greystone is committed to fostering and preserving a culture of inclusion. Belonging is at the heart of our culture of caring, integrity and excellence and is a driving force behind our entrepreneurial spirit and creativity.

We are seeking an FHA Underwriting Intern to join our Summer 2027 Internship Program. The Intern will gain hands‑on experience supporting the underwriting and analysis of multifamily and healthcare real estate loans insured through the Federal Housing Administration (FHA). This role provides exposure to HUD loan programs, financial modeling, property‑level due diligence, and the full lifecycle of the underwriting process.

Primary Duties and Responsibilities:

• Analyze rent rolls, operating history, etc. and spread data into financial analysis spreadsheets.
• Assist in the preparation of underwriting packages for FHA/HUD multifamily and healthcare loans.
• Perform detailed financial analysis, including cash-flow modeling, rent roll reviews, and operating statement spreads.
• Conduct market research, comparable property analysis, and demographic studies to support underwriting assumptions.
• Review third‑party reports such as appraisals, environmental assessments, and market studies.
• Help assess borrower financials and experience to ensure program eligibility.

• Participate in underwriting team meetings, pipeline reviews, and training sessions.
• Gain exposure to HUD programs such as 223(f), 221(d)(4), 232/LEAN, and others.
• Work cross‑functionally with production, closing, asset management, and legal teams.

• Research various markets, statistics, laws, and regulations.
• Draw conclusions based on aggregate information and prepare summary opinions.
• Coordinate with underwriters, production team and borrowers for collection of loan due diligence materials.

Experience, Skills and Abilities Required: 

• Pursuing a Bachelor’s Degree in Business, Finance, Accounting or Economics from an accredited college or university required
• Fundamental real estate knowledge through prior internships and coursework.
• Strong communication skills.
• Proficiency in Microsoft Word, Excel, Outlook, and PowerPoint.
• Must have good analytical skills.
• Must be detail oriented with strong organizational and project-management skills. 
• Excellent verbal and written communications skills. 
• Strong time management skills and a respect for deadlines. 
• Driven, innovative team-player who is focused on results and strives to deliver a superior work product.
• Proven track record of success in prior academic or work experience.
• Unquestioned personal and professional integrity.

Interns hired in NYC for summer 2027 will be compensated at $29/ hour.

At Greystone, we believe that finding creative solutions for our clients comes from the collaboration of people with diverse backgrounds and perspectives. We strive to build a work environment that empowers all individuals with opportunities to channel their entrepreneurial spirit. Greystone is an EEO employer.

*For HUD's 2025 fiscal year ending September 30, 2025. Based upon combined firm commitments received by Greystone Funding Company LLC and Greystone Servicing company LLC and excludes risk sharing and hospital loans.”

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