Real Estate Underwriter Job Description
Real estate underwriter
provides advisory guidance to commercial teams on risk policy/procedures and work with the wider Credit Management team on the creation/revision of these policies/processes.
Real Estate Underwriter Duties & Responsibilities
To write an effective real estate underwriter job description, begin by listing detailed duties, responsibilities and expectations. We have included real estate underwriter job description templates that you can modify and use.
Sample responsibilities for this position include:
Develop familiarity with all lending policies and procedures of the Bank and the respective Line of Business
Analyze a breadth of commercial real estate secured lending files
Perform underwriting and due diligence for commercial real estate loan originations
Assist Commercial Relationship Managers (RMs) in managing workflow via a pipeline process with regard to the prioritization of new prospects, modifications, renewals/upcoming maturities, Portfolio Reviews and Special Asset Reports while developing a working knowledge of all prospective opportunities through the process
Develop familiarity with all bank compliance regulatory policies and procedures
Underwrite and recommend new money applications (commercial real estate)
Underwrite and recommend annual review applications (commercial real estate)
Assist with annual reviews within specialized lending
Write loan narratives which include the analysis of both client financials and a variety of income property including but not limited to multi-family, commercial, mixed-use, and industrial properties
Researches and analyzes financial statements
Real Estate Underwriter Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Real Estate Underwriter
List any licenses or certifications required by the position: LEAN, FHA
Education for Real Estate Underwriter
Typically a job would require a certain level of education.
Employers hiring for the real estate underwriter job most commonly would prefer for their future employee to have a relevant degree such as Collage and University Degree in Finance, Business, Accounting, Education, Real Estate, Economics, Military, Management, Business/Administration, Communication
Skills for Real Estate Underwriter
Desired skills for real estate underwriter include:
Procedures
Practices and documentation
Credit policies
Credit risk management policy
Insures compliance with internal bank commercial loan policy
Balance sheets
Commercial
Commercial RE
Income and cash flow statements
Lending
Desired experience for real estate underwriter includes:
Fundamental concepts, principles and practices of the real estate industry or investment analysis are beneficial but not required
Experience in reviewing standard real estate documentation including financial projections, loan documents, various legal memorandums, draw requests, rent rolls, property financial statements, and certificates of occupancy/building permits is beneficial but not required
Ability to serve as functional technical expert in responding to inquiries and resolving system related issues regarding the various tools used by the underwriting group
General concepts relating to analyzing property operating statements personal financial statements of individual sponsors
Gather market data, develop pro forma income statements/budgets, perform necessary credit analysis and due diligence, and review of documents for new transactions
Prepares Profitability Analysis, Sizing Analysis, Investment Committee Memos, Credit Approval Presentations, portfolio and client reviews, risk grade change
Real Estate Underwriter Examples
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Real Estate Underwriter Job Description
Job Description Example
Our company is growing rapidly and is hiring for a real estate underwriter. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for real estate underwriter
- Ensure all loan portfolio documentation is accurate, continually updated and in compliance with internal guidelines
- Orders necessary reports or documents that are critical to the underwriting process such as credit, location, and/or inspection reports, building cost estimates
- Work with a senior underwriter in the preparation of property level pro forma cash flow statements and in the development of property valuations to properly size loan requests
- Collaborate with a senior underwriter to review and analyze financial statements, tax returns and cash flow statements of Borrowers and Guarantors
- Assist senior underwriter in the preparation of the written credit approval memoranda and ancillary forms
- Develop familiarity with various bank products that are offered and how they interface with the sales goals and objectives of the business line
- Collaborate with a senior underwriter in developing an open dialogue and strong working relationship with Risk Management, Loan Administration, Special Assets Department, internal Credit Review and other groups that support and review the line of business
- Multi task to provide support to more than one senior underwriter as necessary
- Partner with lenders to cultivate excellent client relationships and to proactively manage the loan portfolio
- Analyzes the creditworthiness of potential Borrowers and Guarantors using financial statements/REO Schedules, income tax returns, organizational documents and credit reports including payment histories for existing loans
Qualifications for real estate underwriter
- Market research tools for commercial real estate including industrial, retail and office property
- Knowledge of rating agency underwriting standards
- Excellent verbal and written communication skills, interpersonal skills and analytical skills
- Preferably knowledge of loan closing process
- Ability to write in a concise and clear manner
- Demonstrated leadership qualities in a team environment
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Real Estate Underwriter Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of real estate underwriter. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for real estate underwriter
- Partners with Wholesale and Retail Loan Origination Departments to cultivate strong client relationships
- Conducts credit investigations, credit and loan analysis, underwriting and other documentation information pertaining to CRE loans
- Assume responsibility for certain key portfolio reporting and loan analyses spearhead special projects
- Calculates property level cash flow, determines appropriate debt amounts and assesses the overall creditworthiness of a proposed transaction
- Works with loan officers, loan closers, external counsel and others to resolve credit related issues during the loan origination and closing process for existing loans
- The Associate/AVP Healthcare RE Underwriter will support the HC RE Underwriting team in identifying, analyzing and underwriting new and existing HC RE transactions
- The position requires a candidate to have strong credit and analytical skills that can multi task and work in a high paced team environment
- The candidate will interact with RE Originators, support the RE Underwriters work with and provide guidance to junior analysts
- Coordinates processing of approved loans
- Reviews NSF and overdraft reports for customers assigned within his or her portfolio
Qualifications for real estate underwriter
- Minimum of 2 years experience in commercial banking which might include credit, structuring and finance
- For Commercial Real Estate Underwriter I, none previous experience
- Strong technical skills (Microsoft Office, SharePoint)
- General concepts relating to analyzing property operating statements personal financial statements of individual sponsor
- Additional qualifying education may be substituted for a maximum of two years of the experience requirement
- 5 years of commercial Real Estate Underwriting
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Real Estate Underwriter Job Description
Job Description Example
Our innovative and growing company is looking for a real estate underwriter. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for real estate underwriter
- Provides deposit and loan account ratings.Updates and corresponds with legal counsel and collectors on workouts, bankruptcies, and charge-offs to ensure all possible precautionary actions or measures are taken.Engages in business development activities and solicitation of new business
- Review and analyze due diligence items including cash flow, leverage, collateral condition, market trends, sponsor & ownership structure, financial projections
- Review third-party reports and performs property inspections
- Review industry periodicals, Bank portfolio data and other materials/statistics to build and maintain current knowledge of factors that impact Bank's underwriting of Multi-Family housing
- Present to various credit committees on current and prospective credits
- Prepares CAM package and written summaries with guidance for simple credit transactions, including forward looking acceptability of risks for
- Prepare preliminary loan opportunity assessments for term sheet proposals, completion of in-depth credit approval packages for final signature authorities
- Manages approval and commitment process
- Continuously monitors and proactively manages risk/exposure and compliance with Credit Policy for assigned portfolio
- Visits clients and reviews client performance and financials
Qualifications for real estate underwriter
- College degree required, preferably in Real Estate, Finance, or Economics
- Knowledge of real estate lending documentation
- Ability to present and defend work product
- Conversant in Word
- Ability to learn database loan closing system
- Ability to competently complete credit packages and credit services agreements with management oversight
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Real Estate Underwriter Job Description
Job Description Example
Our company is growing rapidly and is hiring for a real estate underwriter. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for real estate underwriter
- Manages approval process ensuring accuracy of approval documents memorandum, supplemental exhibits and underwriting is compliant with current Credit Policy standards and practices
- Authorizes decisions in areas of credit transactions, risk ratings and extensions of credit within limits of individual authority and makes recommendations on others
- Responsible for formal credit review processes such as Monitoring Credit File reviews, Audits, Compliance Reviews etc and on an on-going basis reviews for accuracy and completeness all formal loan documentation, comments and updates
- Determines cash flow using appropriate tax analysis, CRE cash flow schedules, K-1’s and Moodys
- May also conduct ESA reviews, audit financial projects, maintain master financial projects, and conduct property acquisition analysis
- Performs other advanced duties and responsibilities as assigned
- Manage a loan portfolio of simple and complex transactions
- Underwrite new loan transactions coordinate due diligence and loan closings
- Review and comment on legal documents in conjunction with the relationship manager
- Structure transactions at the term sheet stage in conjunction with the relationship manager
Qualifications for real estate underwriter
- Work closely with Financial Advisors and their clients to gather information critical to underwriting the loan
- Responsible for drafting fairly detailed initial underwriting and recommendation to Credit Risk Management to initiate formal loan underwriting and approval
- Support and present creative and intelligent solutions when reviewing CRE opportunities and understand the CRE competitive environment
- Provide subject matter expertise to other Originators, Private Bankers and Financial Advisors to drive new business and execute / close middle market commercial real estate transactions
- Additional responsibilities as required by the Head of MM CRE Lending
- Bachelor’s Degree in Business, Bachelor’s Degree in Accounting or Bachelor’s Degree in Finance
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Real Estate Underwriter Job Description
Job Description Example
Our innovative and growing company is looking for a real estate underwriter. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for real estate underwriter
- Conduct credit and risk analyses by examining, assessing, and analyzing financial data
- Determine the accuracy and reasonableness of loan underwriting including adherence to required guidelines and prudent standards
- Review and analyze third party documents and reports such as appraisals and engineering and environmental reports that provide support for underwritten conclusions
- Review and analyze market data, loan terms, and Borrower/Sponsor financial information that support underwritten conclusions
- Make recommendations to management to aid in making financial, client, or other business decisions
- Continually improve, recommend, and develop ways in which systems and processes can be enhanced
- Drive the analysis of appropriate risk-adjusted returns for proposed joint venture/common equity, preferred equity and mezzanine debt investments brought to the RealtyShares platform
- Lead discussions to key executives on the Investment Committee around your analysis, with specific focus on identified risks and creative mitigants
- Develop research on key trends within various submarkets and leverage this research to drive thought leadership around potential investment theses, white papers and areas for opportunity
- Advance our technology roadmap for how machine learning, artificial intelligence and automation can drive underwriting productivity and collaboration
Qualifications for real estate underwriter
- Multi-family construction exposure
- 8 years of similar Commercial Real Estate Loan Underwriting experience
- Clear understanding of and experience with the due diligence and underwriting process, familiarity with a variety of asset classes, debt structures, valuation models
- Strong Excel skills, familiarity with MS Office Suite
- Minimum of seven years proven and progressive commercial real estate and multi-family underwriting experience in major national markets or equivalent
- Extensive experience in underwriting multi-family and commercial real estate loans