Anna Rasmussen’s summer internship ’21 at Freddie Mac served as a launch pad for her career in Hamilton. Below are some of the economist’s thoughts on her job search and college experience.
Can you talk a little about what your job will be like?
I will be working in underwriting for apartment buildings [lending] … [it’s] a lot of background research on the people who lend for apartment building. We need to dig deep into the search for the borrower to make sure they … have no lawsuits against them or their property. We have to make sure their credit is good, see if they have done business with Freddie in the past, and make sure the market area is clean – there’s no crime or anything‘There isn’t much crime in the area, nor are any major concerns or market risks.
I would also say that the open curriculum and liberal arts education really made me think broader and made me a better, dynamic thinker. I think that‘t was a big plus in this type of training.
What attracted you to this field?
My parents are both in the commercial real estate business, especially appraisal, and then I have a brother in the brokerage business. So that it‘s kind of family business. … I’ve definitely been influenced by them, but I like the multi-family space and multi-family lending simply because I think I can see a lot of different types of property and different areas in the Northeast.
Could you explain a little what multi-family loans are?
Freddie Mac offers both traditional loans such as single-family and multi-family loans. Single family home is your standard, like a home loan or your mortgage, and then we make apartment buildings. I work in the multi-family lending sector. So it will be – your minimum is a $ 5 million loan – that is, for condominiums or apartment buildings. I think it’s at least five or more units for an apartment or condo.
How did you end up on this particular job?
I did an internship last summer. I got this through a family friend, my mother‘s girlfriend, whom she met in 1985 in an appraisal course. They have been friends since then. So she put my name in the candidate pool and luckily I got the internship and then from there I interviewed for the full-time position and got it.
How did Hamilton prepare you for this job?
I think the sociology class strangely made me more interested in commercial real estate. It really got me thinking about the impact a development can have on the surrounding community. And I think it’s really cool how different sectors can affect a local economy like you would‘not expecting. I‘I would also say that the open curriculum and liberal arts education really made me think broader and made me a better, dynamic thinker. I think that was a big plus for this type of training.
What is something you‘will you miss hamilton
I think I can just see my co-workers every day, you know. I know in the future … to see my best friends it will probably be once a quarter, and you have to plan for it pretty far in advance if we live in different areas and stuff. So definitely just the convenience of being with friends all the time.