Senior Underwriter

Oak Grove Capital is a national commercial real estate lender providing custom tailored debt solutions for owners/developers of affordable and market-rate apartments, senior housing and healthcare. Oak Grove has originated more than $1.5 billion in new loans in each of the past two years, and currently asset manages and services a loan portfolio of $9 billion in 46 states. We are headquartered in the Twin Cities and have 10 offices located around the country.

Oak Grove is currently seeking a Senior Underwriter for its Underwriting Department in one of our main offices (St. Paul, Maryland, Dallas, Birmingham, Columbus, and Tampa). The Senior Underwriter must demonstrate ability for details, organization and an analytical orientation, and possess the initiative to work in an independent and reliable manner. In this important role, you will provide exceptional service to our clients and underwrite multifamily products. The Senior Underwriter will complete the underwriting narrative and financial analysis, identify strengths and weaknesses with appropriate mitigants and present to loan committee for approval. The Senior Underwriter must have knowledge of both the Fannie Mae DUS and Freddie Mac Program Plus programs and must have the ability to underwrite multifamily and senior housing products, including both conventional and affordable transactions. The Senior Underwriter will be held accountable and responsible for the compliance of the respective program guide requirements. Essential Functions: - Analyze practical problems and resolve complex transactions when confronted with minimum detailed, concrete or standardized information - Lead Initial (and all follow-up) Deal Team meetings to evaluate strengths and weaknesses of prospective loans, understand Fannie Mae DUS and Freddie Mac Program guidelines and offer direction to the team for guide compliance, establish underwriting/closing timeline, and make borrower introductions - Manage to customer satisfaction and internal timelines for transaction funding - Compile independent data and form conclusions on market conditions, management, property condition, and sponsor - Review reports prepared by third party consultants to determine market value, physical needs, environmental concerns and architectural/cost requirements are being met for multifamily and healthcare properties - Review of specialized documents such as ground leases, regulatory agreements, Section 8 contracts, bond documentation and operating agreements - Perform financial analysis including trend and cap rate analysis, capital expenditure requirements and proforma NOI and DSC calculations - Analyze and evaluate complex ownership borrower structures relative to legal and financial responsibilities and obligations - Complete property site inspections - Regularly communicate loan status updates to underwriting team and originators as appropriate. - Prepare waiver/exception justifications - Complete loan narrative incorporating strengths, weaknesses and mitigants in the overall transaction - Work closely with closing and pricing during rate lock to ensure the approved loan amount and structure is appropriately matched to the approved rate lock terms - Review for accuracy the draft commitment letter to be issued to the borrower to ensure commitment accuracy - Review and approve data input - Mentor Analyst and Processor - Additional duties as deemed necessary by management

**Qualifications Required:** - Strong leadership skills - Strong Microsoft Excel and Word proficiency - Strong math, verbal, writing, and organizational skills - Strong time management skills and ability to operate under demanding deadlines - Ability to multitask and work on several transactions simultaneously - Ability to recognize and mitigate risk - Excellent attention to detail - Ability to work independently and in teams - Ability to travel as needed **Physical Demands:** - Must be able to physically inspect multiple residences and common areas within an apartment complex, as well as inspect comparable properties within the market. Employee must be able to physically move about the apartment complex, which shall require standing and walking for extended periods of time, and climbing stairs. Inspections may also require the ability to sit, reach, and bend. - Travel shall include various modes of travels (including but not limited to planes, trains and automobiles) to different time zones and may require overnight lodging. **Education:** - Undergraduate degree in a business related field (i.e. Finance, Accounting, Real Estate, Business) **Experience:** - 10 years’ experience in underwriting with the GSE