First Republic Bank

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Commercial Real Estate Loan Underwriter

Commercial Real Estate Loan Underwriter

ID 
2017-4866
Job Locations 
US-CA-Los Angeles
Category 
Banking

More information about this job

Overview

Responsible for overseeing all stages in the Commercial Real Estate loan process, from initial qualification to loan funding. Ensure that all multi-family, commercial, and unsecured loans are analyzed, underwritten, and processed in a timely manner while achieving a high level of customer service. Responsibilities primarily focus on processing and underwriting commercial real estate and construction loans but may include analysis of other loan types including but not limited to unsecured lines, stock secured loans, and complex residential loans.

Responsibilities

  • 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. The underwriting entails analyzing and summarizing appraisals, rent rolls, leases, and property cash flow to evaluate operating performance, trends, and risks. It also entails analyzing borrower tax returns (business and personal returns), financial statements, real estate schedules, liquidity positions, financial ratios, recurring sources of cash flow, and client ability to service debt (approximately 50% of time). 
  • Size and qualify loans for approval and present deals to Executive Loan Committee (ELC). Collaborate with Relationship Managers (RMs), ELC, and clients to help determine loan structure, loan amounts, and products.
  • Communicate with customers, providing excellent customer service and ensuring the customer relationship is maintained and the highest possible level.
  • Communicate directly with clients to obtain missing financial information and answer questions related to deals.
  • Print and organize all financial documentation and compile loan files. Review loan files for completeness, identify missing documentation, and generate needs list for clients and RMs.
  • Identify and report to RMs any risks related to loan collateral and/or client financial state.
  • Complete some basic loan processing, such as entering loans on system (PowerLender). Must be proficient in Moody’s or equivalent financial analysis software, must be an expert with Microsoft Excel. 
  • Order third party reports and open escrow. Work with all third parties to ensure reports are completed on time.
  • Manage loans through closing and funding stage. Work with escrow to coordinate closings.
  • Update Maturity Report and Assist Loan Monitoring Group with collecting any financial information needed for financial covenants.
  • Manage constant deal flow and prioritize to ensure loans close on time with high degree of accuracy in a deadline-oriented environment.
  • Review set-up loan files for completeness and identify and missing documentation or potential problems.
  • Analyze each loan file, ensuring the LAW form, loan narrative (if applicable), appraisal(s), application, preliminary title report and verifications meet secondary market and First Republic Bank loan program criteria and are accurately documented.
  • Prepare loan files for funding by reviewing the analysis for accuracy and by completing the Request for Documents form to ensure all regulatory information and loan terms are accurately input into the computer system to meet compliance.
  • Prepare pre-qualification and/or commitment letters for loan officer review.
  • Work positively and proactively with all members of the team. 
  • Cross trains other team members, when applicable.
  • Perform duties & responsibilities specific to department functions & activities.
  • Performs other duties & responsibilities as required or assigned by supervisor.
  • Responsibilities include the following: 1) adhering to and complying with all applicable, federal and state laws, regulations and guidance, including those related to Anti-Money Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.), 2) adhering to Bank policies and procedures, 3) completing required training, 4) identifying and reporting potential suspicious activity to the BSA/AML Officer, and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank. 

Qualifications

KEY SKILLS, KNOWLEDGE AND ABILITIES:

  • College degree preferred.
  • Extensive experience in underwriting multi-family and commercial real estate loans. Construction a plus.
  • Advanced analytical skills, with a focus on underwriting commercial real estate and client financial data.
  • Familiarity with commercial real estate appraisals.
  • Ability to multi-task and work in fast paced/deadline oriented environment.
  • Effective written and oral communication skills
  • Expert knowledge in Excel.

MENTAL/PHYSICAL REQUIREMENTS:

  • The ability to learn and comprehend basic instructions; understand the meanings of words and respond effectively; and perform basic arithmetic accurately and quickly.
  • Vision must be sufficient to read data reports, manuals and computer screens.
  • Hearing must be sufficient to understand a conversation at a normal volume, including telephone calls and in person.
  • Speech must be coherent to clearly convey or exchange information, including the giving and receiving of assignments and/or directions.
  • Position involves sitting most of the time, but may involve walking or standing for brief periods of time.
  • Must be able to travel as position requires.
  • May be required to lift 25-50lbs.
  • Must provide extraordinary service and have fun!

 

 

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