What are the responsibilities and job description for the Underwriter - Healthcare position at Merchants Capital Corporation?
Description
The Healthcare Underwriter plays a critical role in the underwriting of healthcare real estate loans. The Healthcare Underwriter will analyze proposed transactions, prepare formal recommendations, and assist in the closing and delivery of approved loans to necessary constituents. A candidate with the desire to learn and grow will have the opportunity to advance within the team and company overall. The position’s primary focus will be on healthcare real estate loans, but the responsibilities could also include working with other real estate-related loan products.
Requirements
- Input and analyze income and expense statements to determine maximum loan amounts.
- Conduct reviews of market areas, properties, and site characteristics.
- Complete review of borrower and management qualifications.
- Assist analysts in learning methodology for building proforma income & expenses.
- Assist analysts in learning healthcare underwriting requirements along with reviewing any lender updates on an on-going basis.
- Conduct site visits to assess the condition and quality of healthcare projects, their operations, and the market.
- Order and complete review of third-party reports including appraisals, engineering, seismic, Phase I environmental assessments, and operations & maintenance (O&M) plans.
- Maintain organized and fully documented underwriting files and manage underwriting checklists.
- Responsible for crafting the narratives/final loan packages for committee review.
- Communicate closely with the Underwriting, Production, Closing, and Insurance teams, and others as appropriate to problem-solve deal issues.
- Responsible for completing underwriting deliverables as part of the closing and submission of the loan to the investor.
Expected Experience, Skills, and Education:
- Bachelor’s degree in business or finance preferred.
- 3-5 years of experience within the real estate industry preferred.
- A high level of computer proficiency in Microsoft Office (Word and Excel).
- Demonstrated analytical skills with the ability to evaluate data quickly and take action to move transactions forward.
- Excellent interpersonal and presentation skills with strong work ethic to meet the daily challenges of a fast-paced environment.
- Demonstrated ability to develop and execute solutions to complex issues and transactions.
- Requires critical thinking skills and multitasking.
- Ability to show ownership of your work, take on challenges, and demonstrate patience.
ABOUT MERCHANTS CAPITAL
With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.
