Immediate need for Commercial Underwriter!
The Commercial Underwriter’s primary responsibility is to underwrite commercial loans and real estate loans while ensuring compliance with appropriate company credit policies and procedures. Additionally, the underwriter will provide dispositions on each loan according to company guidelines. The underwriter is expected develop a thorough and complete analysis of risks, and to provide a high level of customer service to internal company employees. This position will be specializing in underwriting loans for five to twelve-unit properties.
- Remain current on all company policies
- Remain current on all agency and investor’s guidelines
- Remain current on federal and state regulations related to mortgage lending
- Assess and analyze loan transactions/files and qualify based on product prescribed guidelines
- Review and analyze various due diligence items including, but not limited to, personal financial statements, rent rolls, income and expense statements, credit reports, borrowing entity documents etc.
- Review third party reports such as appraisal reports, environmental reports, building violation reports, title reports etc.
- Validate the authenticity and integrity of documents provided
- Communicate loan decisions
- Underwrite and submit mortgage loan files to investors, clear conditions and clear post purchase conditions
- Keep up to date of trends and developments in the real estate market, as well as the changing rules and regulations pertaining to commercial lending
- Perform other tasks and projects as needed
- Meet Underwriting metrics, including customer service levels, quality of loans and expected turn-times
- Act as a liaison between commercial lending department and external parties in order to resolve any loan closing related issues
- Duties as set forth by the company
- Bachelor’s degree or equivalent work experience
- 5+ years of recent experience underwriting commercial real estate loans
- Recent experience underwriting loans for 5 to 12-unit properties
- Demonstrated ability to analyze personal and corporate tax returns
- Familiar with manual underwrites
- Experience in both Retail and Wholesale lending a plus
- Experience with Non-Qualified Mortgages a plus
- Experience with Government and Conventional loan programs a plus