Conventional Loan Underwriter

The Michaels Organization

(Evesham Township, New Jersey)
Full Time Travel Required
Job Posting Details
About The Michaels Organization
The Michaels Organization is a nationally recognized, private sector firm with over 43 years of experience in producing top quality multifamily housing. All aspects of housing development, from site acquisition through property management are within the expertise of our company and its affiliates.
Summary
Continental Mortgage Corp. is seeking a Conventional Loan Underwriter to work in our Debt Placement Platform. The primary responsibilities will be to build and verify the financing and operating pro forma.
Responsibilities
* Review potential real estate development projects presented by developers and underwrite revenue and expense projections including verifying market data, expense validation, and pro forma assumptions for such projects; * Determine credit-worthiness of opportunities and prepare cash flow projections and project draw schedules of those deemed credit-worthy for Loan Officer to present to the Internal Credit Committee; * Utilize third party market resources and reports, and obtain information to verify pro forma assumptions; * Ensure that the underwriting complies with the requirements dictated by the type of financing and/or lender; * Reconcile the pro forma assumptions between the developer, manager, debt platform and lender; * Critically evaluate appraisals, market studies, environmental reports, capital needs assessments, financial statements, insurance policies, property tax assessments, and other documents necessary for sound underwriting conclusions of a proposed development; * Develop and refine financial models; * Assist Loan Officer in the preparation of the Loan package pro forma, third party reports and various due diligence for submission to the Lender(s); * Provide general support to assist the Loan Officer; and * Be involved in various special projects. * Perform other duties as assigned.
Ideal Candidate
**Required Skills** * The candidate must have the ability to meet deadlines, work independently and perform multiple tasks. * The candidate must have strong organizational skills, mathematical and analytical skills, and communication skills (both written and oral). * Attention to detail and computer skills (including Word and Excel) are also necessary. * The applicant will primarily work in the Marlton, NJ office with minimal travel. **Required Experience** * A bachelor’s degree in a related field is required. * Three to Five years of lending, finance, accounting or auditing experience is desired and appraisal experience would be beneficial. * An understanding of general underwriting principles is necessary as is a general understanding of borrower and/or partnership structures. * Experience in affordable and conventional multifamily lending is also desired. * The candidate will receive support and on the job training.
Compensation and Working Conditions
Reports to Senior Underwriter

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