This position underwrites commercial real estate or affordable housing loan requests in a high-volume environment, while adhering to department/bank policies and guidelines.
The Bank is looking for a qualified candidate with experience in Commercial Real Estate or Affordable Housing Underwriting. Depending on expertise the position underwrites complex commercial real estate loans and investment requests for the financing of affordable housing utilizing the Low Income Housing Tax Credit and CDFIs.
- Assists and counsels originators in qualifying Commercial Real Estate/Affordable Housing loans, determining Sponsor/Borrower's needs, determining appropriate commercial loan product in light of needs, and obtaining requisite financial data (operating statements, rent rolls, borrower and guarantor financial statements).
- Reviews credit requests, commercial real estate market data, business reports and consumer bureaus.
- Evaluates collateral adequacy, industry risk, purpose and viability of pro forma business, operating and lease-up plan; must be familiar with term and construction lending.
- Obtains and analyzes pertinent financial and credit data, rent roll and tenant analysis to assist in determining the risk of the loan. Determines appropriate structure and pricing in light of borrower type, industry, collateral, and risk and documenting any deviations from the prescribed structure, Credit Policy and/or Underwriting Guidelines.
- Assesses strengths and weaknesses of loan requests.
- Completes financial, repayment and exit analysis with a focus on cash flow, loan to cost, and loan to value analysis.
- Understanding, emphasis and implementation of Loan Policy
- Thoroughly documents the credit request in the appropriate format.
- Verifies underwriting conditions and additional approval requirements are satisfied.
- Ensures effective communication between Relationship Managers, Loan Administration, Loan Documentation & Funding Control and other departments involved in the loan process.
- Strives to minimize turnaround-time while thorough documenting credit requests.