Underwriting Analyst

Description

The Underwriting Analyst plays a critical role in the underwriting of multifamily real estate loans. The Underwriting Analyst will help analyze proposed transactions, prepare formal recommendations, and assist in the closing and delivery of approved loans to necessary constituents. A candidate with the desire to learn and grow will have the opportunity to advance within the team and company overall. The position’s primary focus will be on multifamily real estate loans originated by Merchants Capital, but the responsibilities could also include working with lines of credit and other real estate-related loan products. 

Requirements

• Efficient management of due diligence.
• Review and analysis of third-party reports such as Appraisals, Property Condition Assessments, and Environmental Site Assessments.
• Accurate underwriting of compiled financial data.
• Application of critical thought toward risk identification and mitigation.
• Contribute to timely completion of narrative for presentation to loan committee.

Essential Duties and Responsibilities:

• Work with Underwriters and perform due diligence for multifamily products and transactions.
• Input income and expense statements to determine maximum loan amounts.
• Conduct initial reviews of market areas, properties, and site characteristics.
• Complete initial review of borrower and management qualifications.
• Learn methodology for building proforma income & expenses.
• Learn multifamily underwriting requirements along with reviewing any lender updates on an on-going basis.
• Conduct site visits to assess the condition and quality of multifamily projects, their management, and the market.
• Order and complete preliminary review of third-party reports including appraisals, engineering, seismic, Phase I environmental assessments, and operations & maintenance (O&M) plans.
• Maintain organized and fully documented underwriting files and manage underwriting checklists.
• Assist in crafting the narratives/final loan packages for committee review.
• Communicate closely with the Underwriting, Production, Closing, and Insurance teams, and others as appropriate to problem-solve deal issues.
• Assist in completing underwriting deliverables as part of the closing and submission of the loan to the investor.

Expected Experience, Skills, and Education:

• Bachelor’s degree in business or finance preferred.
• 1-2 years of experience within the real estate industry preferred.  
• A high level of computer proficiency in Microsoft Office (Word and Excel).  
• Demonstrated analytical skills with the ability to evaluate data quickly and take action to assist the team in moving transactions forward. 
• Excellent interpersonal and presentation skills with strong work ethic to meet the daily challenges of a fast-paced environment.  
• Demonstrated ability to develop and execute solutions to complex issues and transactions.
• Requires critical thinking skills and multitasking.  
• Ability to show ownership of your work, take on challenges, and demonstrate patience when learning new processes.
• Courtesy, respect, and thoughtfulness in teaming with colleagues and other stakeholders.

ABOUT MERCHANTS CAPITAL

With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.