Proprietary Products Underwriter – Vice President

Job purpose

The Underwriter is responsible for all aspects of underwriting within the Multifamily bridge and Affordable bridge lending programs, with strong involvement in the bridge credit process and the bridge credit committee.   They will have regular interaction with our clients, senior management and external stakeholders.  They will work closely with the Managing Director of Proprietary Products Underwriting and collaborate with all involved parties to ensure loans meet the stringent internal and external requirements.  The Underwriter may also be involved with other proprietary products as the platform grows.

Duties and responsibilities

• Underwrite multifamily bridge and Affordable bridge loans including cash flow analysis, comparable analysis, credit risk assessment and mitigation;
• Prepare detailed asset summary reports and credit memorandums for investment committee consideration;
• Perform site visits and market research;
• Assess creditworthiness and capabilities of sponsors, managers, borrowers and guarantors;
• Collaborate with borrowers, brokers, loan originators, loan closers, legal counsel and capital partners to move loan requests through the approval and closing process;
• Timely problem recognition and effectively communicating issues to manager;
• Help refine underwriting templates and funding procedures;
• Help train and mentor analyst and associate level staff;
• Must be able to handle and prioritize multiple tasks; and
• Other reasonable tasks and services in connection with your position.

Qualifications

• Bachelor’s degree in Real Estate, Finance, Accounting, or related field preferred;
• Minimum 5 years of multifamily underwriting, credit or capital markets experience;
• Experience underwriting Affordable multifamily projects is a plus;
• Detailed knowledge of Fannie Mae, Freddie Mac, FHA/HUD GSE, CMBS and Rating Agency underwriting requirements for multifamily properties;
• Demonstrable knowledge in the development of cash flow forecasts, understanding of cash flow, rent rolls, third party reports, loan structure, borrower credit worthiness, management/operator experience, market analysis and asset quality;
• Ability to work in a fast-paced environment and move quickly through assignments to ensure deadlines are met;
• Strong interest in real estate, lending, and financial analysis;
• Highly advanced Excel, Word and research skills with proficiency in Word, Outlook, PowerPoint and Adobe Acrobat;
• Excellent written and verbal communication skills, including the ability to summarize conclusions and make recommendations;
• Detail-oriented; and
• Ability to multi-task.