Merchants Bank IN · 4 months ago
Underwriter, Affordable Housing
MCC-New York City
Full-time
Onsite
Mid Level
3+ years expMerchants Capital is a proven leader in financing for multi-family housing nationwide, recognized as a top five affordable lender. The Affordable Housing Underwriter will review new applications, analyze financial feasibility of transactions, and prepare applications for approval, ensuring compliance with bank and secondary market guidelines.
BankingFinanceFinancial Services
Responsibilities
Review new applications
Monitor the receipt of all due diligence from the borrower
Analyze financial feasibility of new transactions, including construction, acquisition, and refinance loans
Prepare applications for approval by the Bank’s Loan Committee
Ensure the loan is documented to bank and secondary market guidelines where applicable
Synthesize and analyze due diligence
Input historical financial data to determine project cash flow
Complete reviews of borrower proforma and sponsor qualifications
Build underwriting proforma and construction draw schedule projections
Conduct site visits to assess the condition and quality of multifamily projects, their management, and the market
Review 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
Communicate closely with the Underwriting, Production, Closing, Insurance, and other stakeholders
Deliver a comprehensive underwriting narrative to loan committee to garner a credit decision
Review final loan documents
Qualification
Required
3+ years of affordable multifamily underwriting experience
Requires an experienced understanding of the multifamily real estate lending process
Requires a bachelor's degree in finance or a related field of study from an accredited institution
Candidates must demonstrate successful critical thinking skills
Requires the ability to successfully multitask and perform accurate, timely work with multiple priorities and deadlines; ability to keep transactions moving forward in a fast-paced environment
Excellent customer service/interpersonal communication and presentation skills
Requires proficiency in Microsoft Excel, Word, and Outlook
Respect and empathy towards colleagues and other stakeholders
Company
Merchants Bank IN
Ranked as one of the top-performing banks in the U.S.
501-1000 employees
Funding
Current Stage
Public CompanyTotal Funding
$403.11M2024-11-18Post Ipo Equity· $230M
2024-05-13Post Ipo Equity· $98.04M
2021-05-14Post Ipo Equity· $46.18M
Leadership Team
Bill Fessel
Chief Operating Officer - Business Lending
Robert Burtner
Senior Vice President - Chief Credit Officer
Recent News
2026-01-23
2026-01-09
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