Commercial Real Estate Underwriter

2 months ago

Salt Lake City, United States Avana Companies Full time
Job DescriptionJob Description

Please be informed, this position is for Experienced Commercial Real Estate Underwriters only who have a minimum 5+ years of experience in this domain.

Mission:
The mission of the Commercial Real Estate Underwriter is to evaluate and recommend commercial real estate loan requests. The role involves making sound risk assessments through in-depth analysis of historical financials, projections, property appraisals, and market conditions, while adhering to regulatory guidelines and company policies.

Key Results

  • Spread financial information and prepare a prescreen within 48 hours or receipt of Prescreen Checklist items
  • Achieve a minimum of 4 loans funded each quarter
  • Produce a Credit Approval Memorandum within 10 business days of a loan entering underwriting

Core Competencies

  • Analytical Thinking
  • Attention to Detail
  • Collaborating with Others
  • Decision Making
  • Problem Solving

Responsibilities

  • Analyze and assess the creditworthiness of borrowers and the financial viability of commercial real estate projects.
  • Evaluate financial statements, rent rolls, operating statements, and other financial documents to determine the economic viability of a property.
  • Conduct market research to understand the local real estate market trends, property values, and potential risks.
  • Assess the value and condition of the property being used as collateral to ensure it meets the company's standards.
  • Structure loan terms and conditions that mitigate risk while meeting the needs of both the borrower and the lender.
  • Ensure all underwriting processes comply with federal, state, and local regulations, as well as internal company policies.
  • Prepare detailed reports and presentations for loan committees and senior management, outlining the risks and benefits of loan requests.
  • Work closely with loan officers, appraisers, legal counsel, and other stakeholders to gather necessary information and provide comprehensive evaluations.
  • Stay informed about changes in regulatory requirements and industry best practices to maintain compliance and mitigate legal and regulatory risks.
  • Travel may be required for training purposes.

Requirements

  • Minimum of 5 years’ experience in commercial lending, preferably with a focus in commercial real estate and hospitality
  • Bachelor’s degree in Finance or Accounting with strong academic record
  • Strong analytical skills with the ability to interpret complex financial data and identify key risk factors
  • Strong time management skills
  • Ability to work independently with minimal supervision
  • High attention to detail and ability to identify discrepancies in data
  • Proficiency in using Microsoft Excel and Word
  • Excellent verbal and written communication skills in English with the ability to articulate findings and recommendations effectively and concisely
  • Ability to work in a fast-paced and multi-national environment
  • Ability to multi-task, solve problems and think quickly
  • Proactive and results focused
  • Must demonstrate initiative and effective independent technical decision-making skill
  • US locations available are limited to Salt Lake City, Utah and Glendale, Arizona

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