Headline

Mortgage Banking | CRE Credit | Underwriting

About

I analyze commercial real estate credit for U.S. agency multifamily lending. At Berkadia, I underwrite Fannie Mae and Freddie Mac multifamily loans (pre-app stage), building cash-flow models, performing credit analysis, working on loan sizing and structure, and preparing transaction narratives. I work with U.S. mortgage bankers evaluating property-level cash flows and credit quality. My work supports the fundamentals (NOI, DSCR, LTV) that underpin CMBS and other securitized products, earlier in the capital stack. Focused on deepening expertise in credit risk, financial modeling and complex debt analysis. I like ownership and hard problems. MSc Economics, Shiv Nadar IoE | I get things done.

Location

Delhi

AI stack

aistudio

claude

github copilot

notebooklm

obsidian

Work experience

Mortgage Banking Analyst at Berkadia, May 2025 - Present · 1 yr 4 mos, Gurugram, Haryana, India, Dallas Affordable Team Execute preliminary underwriting and financial analysis for U.S. commercial real estate agency loans (Fannie Mae/Freddie Mac/Proprietary Lending) as part of Berkadia's Real Estate Analyst Program (REAP). - Analyze property-level financials to determine Net Operating Income (NOI), evaluate cash flow coverage (DSCR), and assess credit quality for multifamily assets - Structure loan quotes using agency spreads, underwrite LTV ratios, and conduct market due diligence via CoStar, REIS, RCA, and YardiMatrix - Prepare transaction narratives integrating property analysis, market/submarket research, rent/sales/expense comparables, third-party reports, and sponsor profiles to inform underwriting decisions Received pre-placement offer (PPO) for demonstrated analytical rigor during summer 2024 internship.

Mortgage Banking Intern at Berkadia, May 2024 - Jul 2024 · 3 mos, Hyderabad, Telangana, India, - Performed preliminary underwriting for multifamily CRE loans (Freddie Mac / Fannie Mae): analyzed rent rolls, TTM financials, comps and initial credit fits - Drafted soft-quote matrices and initial property narratives to aid sponsor / banker discussions - Conducted market research using REIS, YardiMatrix and CoStar; flagged material underwriting risks and comparable market data - Received a pre-placement offer (PPO) based on deliverables quality and initiative

Education

MSc, Economics, Shiv Nadar University

BSc (H), Economics, Dr.B.R. Ambedkar School of Economics University, Bengaluru

Public links

github: https://github.com/ragasirtahk

khatrisagar.in: https://khatrisagar.in/