Underwriting Analyst

Merchants Capital Corporation

Posted Under: Washington DC, DC jobs in Professions; Professions jobs in zipcode 20418
Posted On: 2021-02-24 00:00:00

Summary: The Underwriting Analyst plays a critical role in the underwriting of GSE loans. The Underwriting Analyst will help 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 Fannie Mae and Freddie Mac loans originated by Merchants Capital, but the responsibilities could also include working with Bank or HUD products.

Essential Duties and Responsibilities:

  • Work with Underwriter(s) and perform due diligence for multifamily products and transactions.
  • Input income and expense statements to determine maximum loan amounts.
  • Conduct initial reviews of market areas, property, and site characteristics.
  • Complete initial review of borrower and management qualifications.
  • Learn methodology for building up proforma income & expenses.
  • Learning FNMA and FRE DUS Guide underwriting requirements along with reviewing any lender updates on an on-going basis.
  • Conduct site visits to assess the condition and quality of multifamily projects, their management, and the market.
  • Order and complete preliminary 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.
  • Assist in crafting the DUS 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.
  • Assist in completing underwriting deliverables as part of the closing and submission of the loan to the investor.

    • Bachelor's degree in business or finance preferred.
    • Previous 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 assist the team in moving 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 when learning new processes.
    • Courtesy, respect, and thoughtfulness in teaming with colleagues and other stakeholders.

      All employees are expected to contribute to the overall success of the organization by performing requested duties regardless of explicit inclusion in the job description or reasonable relation to an employee's primary role. Additionally, all employees must understand and adhere to all federal and state laws and banking regulations and company policies and procedures applicable to assigned job responsibilities, including compliance as appropriate under the Bank Secrecy Act and Anti-Money Laundering regulations.

      Additionally, all employees are expected to demonstrate the following Core Competencies:

      Professionalism - acting with responsibility, integrity and accountability; demonstrating consistent trustworthiness and reliability; always remaining flexible, adaptable and willing to accept coaching; building and managing professionally healthy relationships; deliberately managing career decisions; and continually developing awareness of business-related topics.
      Communication - understanding various active and passive tools and styles and their effects; and exhibiting appropriate, effective, timely use of tools and styles to connect, collaborate, facilitate teamwork and serve customers.
      Work Quality - demonstrating an ongoing commitment to compliance, safety and security; executing work with efficiency, a sense of urgency and attention to detail; and displaying organized work practices and a results-oriented mindset.
      Analytical Ability - navigating work-related circumstances with practical, sound reasoning; and demonstrating creativity in problem solving.
      Leadership - displaying good judgment and certainty in decision making; taking initiative with job-related demands; demonstrating innovative thinking and sound planning with business practices; managing individual performance toward shared organizational goals; and thinking strategically to set and accomplish goals.

      Merchants Bancorp and its affiliates and subsidiaries are committed to being equal opportunity employers. All job candidates and incumbents will be assessed based on only criteria relevant to successfully performing the job as defined in this job description and as generally accepted in the job's relevant industries.