Associate (SBL Underwriting)
- Irvine, CA, USA Irvine CA US
- Permanent, Full time
- Hunt Mortgage Group
- 19 Jul 18 2018-07-19
Associate (SBL Underwriting)
The Associate is responsible for processing and analytical duties in support of underwriting multifamily mortgage financing programs being offered by Hunt Mortgage Group. The Associate must demonstrate attention to detail, strong organizational skills, and analytical ability. The Associate must take the initiative to drive the document request, collection and underwriting process as well as independently analyze credit and financial information to determine the degree of risk associated with the loan. While working in an independent and reliable manner, team work and effective communication will also be necessary for success.
Essential Job Functions
- Prepare loan analyses and narratives consistent with Fannie Mae and Freddie Mac internal guidelines
- Summarize and analyze historical property operations, conduct physical site inspections, perform credit and financial analysis of key sponsors
- Review and approve third party reports including property appraisals, physical needs assessments, and environmental reports
- Ensure credit risk issues are appropriately mitigated and significant issues discussed as appropriate with senior team members
- Assure all information reflected in loan approval memo is accurate, that material factors (strengths and weaknesses plus mitigants) affecting the transaction are adequately discussed and that all credit decisions made in the underwriting of the loan are supported. Such determinations take into consideration the stability of the NOI, loan structure, property condition, rental market, project history, credit worthiness of the borrower, key principals, principals and sponsors and the overall expectations for refinancing the project at the end of the loan
- Prepare Fannie Mae waiver and Freddie Mac exception requests
- Assist the senior staff and/or Underwriter during the loan underwriting process by requesting, collecting, managing required documentation:
- Prepare, distribute, and maintain Due Diligence Checklists and Application Workbooks, updating regularly to meet target underwriting dates.
- Collect, review, and advise underwriting team regarding receipt and status of all underwriting documentation.
- Establish and maintain loan files. Retain and organize loan documentation in appropriate electronic data storage folders.
- Order and obtain professional reports and verifications from external parties.
- Input and analyze data:
- Verify and update property operating information in underwriting analysis workbook.
- Upon receipt of borrower/sponsor financial statements, SREO, Underwriting Certificates, credit reports and investor database credit checks:
- Review and notify Underwriter of any material issues;
- Transfer data from reports to underwriting analysis workbook and narrative.
- Upon receipt of professional reports (e.g. appraisal, engineering, environmental assessment, seismic analysis, zoning, and market reports), transfer data into underwriting analysis workbook and narrative.
- Assist with assembling loan package and delivering to Investors after closing.
- Process invoices for payment and prepare final accounting.
- Perform other duties as assigned.
Bachelor's degree in Finance, Accounting, Real Estate, or Business Administration preferred.
Experience and Qualifications
- Two - four years of commercial real estate experience required; multifamily strongly preferred.
- Experience with Fannie Mae and/or Freddie Mac Multifamily loan programs preferred.
- High-level knowledge of financial statement analysis, general accounting, cash flows and mortgage interest calculations.
- Knowledge of real estate finance and/or investment real estate, particularly multifamily.
- Highly analytical thinking with demonstrated talent for identifying, scrutinizing, improving, and streamlining complex work processes.
- Results-driven achiever with exemplary planning and organizational skills, along with a high degree of attention to detail.
- Exceptional listener and communicator who effectively conveys information verbally and in writing.
- Resourceful team player who excels at building trusting relationships with clients and colleagues.
- Applicable knowledge of Microsoft Office suite.
Requires a self-motivated individual who pays close attention to detail and who can prioritize in a fast-moving environment with excellent consulting, client management and business literacy skills. Takes initiative to identify and anticipate client needs and make recommendations for implementation. While working in an independent and reliable manner, team work and effective communication will also be necessary for success.