Senior Underwriter

Office Status: Hybrid
Salary: $140,000 – $170,000

Responsibilities:

• Support the marketing and origination functions of the CRE lending team by pre-screening transactions for general fit with the bank’s profile and request additional information to assess the credit profile of the particular borrower. Utilize analytical programs and industry expertise in this function.
• CRE products include:
  • Multi Family Lender is the 1# product.
  • Perm mortgage lender
  • Cash flowing properties
  • Office and retail
  • Construction/bridge lending
  • Commence the underwriting process by obtaining the necessary due diligence from sponsors and third parties, including market information, property information, borrowing entity and structure, occupancy, NOI, EBITDAR information, and personal and corporate financial statements. Prepare credit approval memo (CAM).
• Properly loan size and prepare comprehensive study of revenue stream versus debt service with focus on DSCR, Debt yield, etc.
• Obtain and review news and other industry sources of information.
• Develop financial models to best analyze transactions, stress scenarios, and projections.
• Maintain awareness of individual sub-sector performance within the overall CRE portfolio and identify potential risks of the specific loans.
• Primary responsible and accountable to review third party reports, address issues and challenge findings with vendors when appropriate, encourage third parties to deliver on time.
• Maintain current knowledge of changes in regulatory environment.
• Attend Credit Committee meetings with the business team for presentation of credit approval memos.