A Bridge and Gap Lender located in Los Angeles, CA is seeking a team-oriented, self-organized Commercial Underwriter to focus on short-term financing for Commercial Real Estate projects.
The primary duties of the Commercial Underwriter position are to provide project and credit analysis, mortgage underwriting, cash flow modeling and support for the business development team for new loan origination, portfolio management, and to support the Department with managerial functions.
- The candidate will be responsible for underwriting multifamily, office, retail, and industrial real estate transactions.
- Works closely with loan origination and external deal partners for the purposes of prospecting new transactions and analyzing the credit quality of prospective and current business.
- Functions will include project underwriting, borrower and credit analysis, due diligence, and closing coordination tasks.
- Responsible for processing committed transaction, submitting deals for approval, and managing amendments for transactions. Incumbent must possess the ability to present both committed transactions and prospective deals to the Credit Committee for approval.
- 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.
- BA/BS in finance, business administration, real estate finance, or other related field.
- 3+ years of solid mortgage underwriting experience 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.
- Ability to 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.
Successful candidates will be required to pass a background check and drug screen
We offer a competitive salary, health benefits and 401(k) plan
If you feel you would be a great candidate for this position, please submit your resume and references.