Sr Underwriter - CRE

The Sr. Underwriter – CRE (Commercial Real Estate) is responsible for conducting credit analysis and underwriting for commercial real estate loans as well as other types of loans as needed. The Underwriter will determine the general creditworthiness of prospects and the merits of their loan requests.

RESPONSIBILITIES

• Responsible for analyzing and underwriting Multifamily and Investor Commercial Real Estate loan requests.
• Conducts an in-depth analysis of financial records, including but not limited to historical operating statements, current operating statements, current rent rolls, profit and loss statements, lease or rental agreements, Schedule of Real Estate, Tax Returns, etc.
• Create spreadsheets analyzing property operations, Borrower/Guarantor financial statements and tax return analysis, and Global cash flow.
• Ensure that all aspects of the requested loan adhere to the Bank’s credit policies and meet regulatory requirements.
• Review and analyze third-party reports (Appraisal, Environmental, Title, and Escrow).

• Prepare Credit Approval Memorandums for presentation and submit them for approval.

• Prepare Letters of Approval.

• Effectively communicate underwriting questions to Relationship Managers, Borrower’s and/or Loan Brokers. Follow up on information needed to make credit decisions.

• Maintain accurate communication documentation and status updates throughout the underwriting process.

QUALIFICATIONS

• 5-8 years of commercial real estate underwriting experience required

KNOWLEDGE, SKILLS, ABILITIES REQUIRED

• Developing professional expertise and applying company policies and procedures to resolve various issues.
• Works on problems of moderate scope where analysis of situations or data requires a review of various factors. Exercises judgment within defined procedures and practices to determine appropriate action. Builds productive internal/external working relationships.
• Normally receives general instructions on routine work and detailed instructions on new projects or assignments.

A reasonable, good-faith estimate of the minimum and maximum base salary or pay for this position is $108,756.75  to $165,000.00. Actual compensation will vary based on various factors, including but not limited to location, experience, and performance.  A discretionary bonus and/or business line incentive may be provided, in addition to medical and other benefits, dependent on the position.  For more information regarding our benefits, please visit https://www.ppbi.com/careers.html

CA (Los Angeles applicants): Applicants are notified that the Company is an insured depository institution subject to the restrictions and requirements of Section 19 of the Federal Deposit Insurance Act (12 CFR 303) (“Section 19”). In accordance with Section 19, the Company will consider an applicant’s criminal history after an applicant is made a conditional offer of employment.  Qualified applicants with criminal conviction records will be considered for employment in accordance with the Los Angeles Fair Chance Ordinance.  Section 19 may prohibit the Company from employing an applicant with a criminal conviction(s) for fraud, breach of trust, embezzlement, mishandling of money or any crime of violence may have a direct impact on the job duties as set forth in the job description and such convictions may result in withdrawal of a conditional offer of employment in accordance with the Los Angeles Fair Chance Ordinance.  Because of the nature of our business, a review of your criminal history is necessary to comply with Section 19 and to avoid substantial risk to our business operations and licensing. 

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Salary : $108,757 - $165,000