Position: Senior Underwriter, National Commercial Real Estate
Location: Crystal City, VA
Nature & Scope: The Senior Underwriter will provide credit analysis, mortgage underwriting, cash flow modeling and support for the business development officer for new loan originations, mortgage securitizations, portfolio management, and to support the Vice President of Underwriting with managerial and work product review functions.
- The Senior Underwriter will be responsible for underwriting the more complex commercial real estate transactions and analyzing potential new business for portfolio and secondary market transactions (CMBS, MBS) while managing the risk of the banks current CRE portfolio. Works closely with credit analysts, Senior Credit Analysts, Vice President of Underwriting and senior management for the purposes of prospecting new transactions and analyzing the credit quality of prospective and current business. Functions will include credit analysis, due diligence, minor closing tasks and loan processing. Analysis includes preparing and reviewing a spreadsheet of historical financial data, evaluating impact of new debt on current cash flow, sensitizing projections for worst case scenarios and comparing ratios to industry averages. In addition to financial review, a collateral and industry assessment is included in a written presentation, which also summarizes strengths and weaknesses of credit and a recommendation to decline or approve the request.
- Responsible for processing committed transaction, submitting deals for approval, and managing CRE portfolio and secondary market (CMBS, MBS) transactions. Incumbent must possess the ability to present both committed transactions and prospective deals to the CRE Credit Committee for approval. The Credit Analyst will underwrite and perform risk analysis permanent mortgages, for property acquisition, refinance and housing cooperatives. Underwriting encompasses: cash flow modeling, asset valuation, debt structuring & pricing, due diligence (environmental, appraisal, feasibility and engineering reports), analyzing market conditions, lease review, loan document review, closing and loan administration.
- Provide portfolio and industry analysis as necessary for portfolio and prospective new business. Stay abreast of market conditions and other changes that impact the conduit line of business using the Internet and other research tools. Attend industry-related conference and seminars.
- Preliminary review of credit analyst work product. Manage internal databases for pipeline and reporting.
- Engage in compliance for annual USA Patriot Act compliance and perform other duties as assigned.
- Conduct loan file audits, assist the Capital Markets group with loan sale activity and support the affordable housing and Mission Bank activity.
- 5+ years of mortgage underwriting in a commercial real estate environment.
- Demonstrated analytical, cash flow modeling and conceptual skills, formal credit training is a plus.
- Strong financial analysis, conduit underwriting and spreadsheet skills.
- Create models used to evaluate the strength of borrower’s cash flow and its viability to provide for primary and secondary sources of repayment, as well as models to assess refinance risk.
- Underwriting the financial strength of an individual, including the analysis of personal financial statements and personal/corporate tax returns.
- Strong knowledge of loan structuring with ability to balance bank objectives and borrower expectations.
- Manage relationships with borrowers, borrowers’ representatives including accountants and attorneys, and third party vendors including appraisers, environmentalists and engineers.
If you would like to apply for this position, please submit your resume to firstname.lastname@example.org.