Commercial Mortgage Underwriter

New York, NY

$90,000 - $120,000

The Commercial Mortgage Underwriter is responsible for analyzing and assessing the financial risk associated with commercial mortgage loan applications. This role involves reviewing financial documents, credit reports, appraisals, and other relevant data to make informed decisions about loan approvals or denials. The underwriter will work closely with the lending team to ensure compliance with company policies, regulations, and underwriting guidelines.

Responsibilities:

• Loan Evaluation: Review and assess commercial loan applications, including but not limited to, financial statements, tax returns, credit reports, and property appraisals.
• Risk Assessment: Analyze and determine the risk level of loan requests by evaluating the borrower's financial stability, the property's value, and the potential for loan repayment.
• Compliance and Guidelines: Ensure that all loans comply with company policies, government regulations, and industry standards. Adhere to credit underwriting policies and ensure proper documentation is gathered and maintained.
• Decision Making: Make informed decisions regarding loan approvals, denials, and loan terms based on analysis of the borrower’s creditworthiness and financial documents.
• Collaboration: Work with the loan origination team, brokers, and clients to clarify loan details and resolve any issues or discrepancies in applications.
• Documentation: Prepare and maintain accurate documentation for approved or declined loans, ensuring compliance with internal procedures and legal requirements.
• Communication: Communicate underwriting decisions clearly and professionally to loan officers, brokers, and clients.
• Risk Mitigation: Identify potential risks in loan transactions and recommend solutions or alternatives to reduce exposure to the company.
• Continuous Improvement: Stay updated on industry trends, regulations, and underwriting best practices to maintain expertise and ensure high-quality underwriting decisions.

Qualifications:

• Bachelor’s degree in Finance, Business, Economics, or a related field. Advanced certifications (e.g., CMB, MBA) a plus.
• Minimum of 3-5 years of experience in commercial mortgage underwriting, with a proven track record in evaluating commercial real estate loans.
• Strong understanding of financial statements, loan structures, and commercial real estate markets.
• In-depth knowledge of underwriting guidelines, credit analysis, and risk assessment procedures.
• Strong analytical and problem-solving skills, with attention to detail.
• Proficient in financial software and loan underwriting platforms (e.g., Encompass, Calyx, etc.).
• Excellent communication and interpersonal skills for effective collaboration with internal teams and external clients.
• Mortgage Underwriting Certification (preferred, but not required).
• Continuing education in commercial mortgage markets, real estate laws, and credit risk management is a plus.
• Ability to manage multiple tasks and meet deadlines in a fast-paced environment.
• Strong decision-making ability with a focus on mitigating financial risk while supporting business growth.