What are the responsibilities and job description for the Underwriting Analyst - Affordable position at Merchants Capital?
Job Type
Full-time
Description
The Underwriting Analyst is responsible for assisting with the underwriting and due diligence processing for multifamily or healthcare financing programs being offered by the Real Estate Investment team, including bridge loans and proprietary and/or conduit executions.
The Underwriting Analyst must help underwriters make informed recommendations to the Investment Real Estate Loan Committee. The underwriting analyst shall analyze debt opportunities by creating financial cashflow and valuation models, conducting guarantor analyses, undertaking due diligence responsibilities, and assisting with the presentation of a loan’s risks and mitigants under a wide range of scenarios to Loan Committee.
Requirements
Merchants offers a comprehensive package of benefits for eligible employees, including, but not limited to: 401(k) employer contributions; employee stock ownership plan (ESOP); medical, dental and vision insurance; various types of leaves of absence, including paid time off, paid holidays, paid leave as provided under state and local paid leave laws, and short-term and long-term disability; health savings accounts (HSAs), flexible spending accounts (FSAs), dependent care and commuter reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; telehealth, optional ancillary insurance policies, education assistance, and an employee assistance program. Eligibility for benefits is governed by the applicable plan documents and policies.
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.
Full-time
Description
The Underwriting Analyst is responsible for assisting with the underwriting and due diligence processing for multifamily or healthcare financing programs being offered by the Real Estate Investment team, including bridge loans and proprietary and/or conduit executions.
The Underwriting Analyst must help underwriters make informed recommendations to the Investment Real Estate Loan Committee. The underwriting analyst shall analyze debt opportunities by creating financial cashflow and valuation models, conducting guarantor analyses, undertaking due diligence responsibilities, and assisting with the presentation of a loan’s risks and mitigants under a wide range of scenarios to Loan Committee.
Requirements
- Prepares and reviews due diligence process, underwriting and valuation models.
- Prepares and reviews Loan Committee memos consistent with Investment Real Estate’s requirements related to each loan program.
- Summarizes historical property operations and proformas.
- Performs credit and financial analysis of guarantors and sponsors.
- Researches rent and expense comparables and market analyses.
- Conducts real estate tax verification and analysis.
- Reviews third party reports including property appraisals, physical needs assessments, environmental reports.
- Acts as a conduit for credit, originators, and the due diligence process.
- Responsible for aiding in training and mentorship for other analysts.
- Travels to perform property inspections and market evaluations.
- Performs other duties and projects as assigned.
- Works professionally and harmoniously with team and coworkers.
- Other projects and duties as assigned.
- Bachelor’s degree from an accredited college or university with a focus in Finance, Business or Real Estate or related field preferred.
- Zero to three years of multifamily agency/bridge underwriting experience
- Experience with HUD, Fannie Mae and/or Freddie Mac Multifamily loan programs preferred.
- Understanding of bridge, conduit, CMBS and bank underwriting standards for loans secured by multifamily or healthcare preferred.
- Strong credit mindset with, ideally, experience in credit training.
- Ability to read, analyze and interpret complex documents and financial statements.
- Highly analytical thinking with demonstrated talent for identifying, scrutinizing, improving, and streamlining complex work processes and risks.
- Applicable knowledge of Microsoft Office suite.
Merchants offers a comprehensive package of benefits for eligible employees, including, but not limited to: 401(k) employer contributions; employee stock ownership plan (ESOP); medical, dental and vision insurance; various types of leaves of absence, including paid time off, paid holidays, paid leave as provided under state and local paid leave laws, and short-term and long-term disability; health savings accounts (HSAs), flexible spending accounts (FSAs), dependent care and commuter reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; telehealth, optional ancillary insurance policies, education assistance, and an employee assistance program. Eligibility for benefits is governed by the applicable plan documents and policies.
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.