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Merchants Capital · 3 days ago

Underwriter, Affordable Housing

New York, NY

Full-time

Onsite

Mid Level

$100K/yr - $150K/yr

3+ years exp

Merchants Capital is a proven leader in financing for multi-family housing nationwide, and they are seeking an Affordable Housing Underwriter. The role involves reviewing applications, analyzing financial feasibility, and preparing applications for approval while mentoring less experienced teammates.

Customer ServiceFinanceFinancial Services

Responsibilities

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

Affordable multifamily underwritingFinancial analysisMicrosoft ExcelReal estate lending processCritical thinkingCustomer service skillsMultitaskingDocumentation managementInterpersonal communicationPresentation skills

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