MCube is seeking a highly motivated individual experienced in commercial real estate debt underwriting for its commercial real estate advisory services. This is an opportunity to join a fast growing team in a dynamic environment with offices in the U.S. and India.
The Senior Underwriter is responsible for structuring and underwriting new commercial real estate loans between $2.5 million and $100 million in a manner consistent with client credit parameters. Loan types include, but are not limited to, commercial mortgage backed securities (CMBS), multifamily Agency (Freddie Mac, Fannie Mae and HUD, with specific focus on Small Balance Loan programs), balance sheet term loans, and bridge/transitional property loans. The Senior Underwriter’s goal is to ensure the quality, completeness, and accuracy of analysis that precedes credit and business decisions as well as manage the overall delivery of the transaction to clients. This role will provide support in the delivery of due diligence and real estate analysis for CMBS, Agency multifamily, securitization and other commercial real estate loan underwriting and debt consulting services. This role involves participating in and managing multiple transactions with multiple clients under tight timelines.
As an Underwriter in commercial real estate, you will work with U.S. and India teams supporting clients in analyzing the real estate collateral securing a proposed loan, the surrounding market/sub-market and demographic area as well as the financial strength and experience of the borrower/guarantor. You will be responsible for making credit worthy decisions on complex commercial real estate transactions to determine acceptability of risk in accordance with the client’s guidelines and standards.
You will be a player/coach and manage teams across multiple projects and be involved in all aspects of the due diligence and underwriting process including:
- Interacting with clients and maintaining client relationships
- Evaluating all financial statements, identifying recurring and non-recurring income/expenses, differentiating between capital expenditure and operating expenses, and understanding cash and accrual methodologies
- Analyzing rent rolls and financial modelling
- Preparing, reviewing and analyzing ARGUS models
- Abstracting and understanding leases and loan documents
- Evaluating reimbursement structures
- Reviewing and analyzing borrower/sponsor searches
- Reviewing and analyzing tenant searches
- Reviewing third party appraisal, engineering and environmental reports
- Writing and reviewing all aspects of the credit memorandum and/or asset summary report
- Applying a critical eye at each phase of the process and reporting any anomalies to the client
- Providing closing support to the client including coordinating with closing departments and outside counsel in the preparation, review and approval of loan documentation to ensure the documents meet agreed upon business terms and satisfy the specific requirements of the appropriate credit approval authority
- Supervising junior staff in two offices across countries and time zones
- Managing and working on multiple transactions with support from junior underwriters
- Managing deadlines, multi-tasking and maintaining high production and quality standards
- Allocating resources efficiently based on timelines and workload
The successful candidate will have the following qualifications:
- Undergraduate degree and preferably a Master’s degree in business with a finance or accounting concentration
- Commercial real estate and/or capital markets debt underwriting or credit analysis experience with a lending institution is a strong plus
- 2-5 + years of hands-on commercial real estate experience in any of the following:
- (1) commercial real estate lending or underwriting, (2) loan portfolio management (3) credit or financial analysis (4) completion of corporate credit training or a professional development program (5) commercial real estate acquisitions or dispositions, (7) commercial property management, (8) commercial real estate appraisal, (9) commercial real estate market research (10) CMBS asset management or servicing
- Strong interpersonal skills and be able to communicate effectively
- Ability to write in a concise and clear manner to convey complex information
- Must be self-motivated and able to work in teams and individually
- Knowledge and experience of credit policy and credit administration procedures
- Strong EXCEL skills along with proficiency in MS-Word and other Microsoft Office tools.
- Must be able to work in various third party underwriting systems e.g. Closer/Rockport/Backshop or proprietary underwriting systems
- Strong quantitative and analytical skills
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals.
- Financial Analysis
- Due Diligence
2+ to 5 years
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