Junior Analyst/Asset Based Underwriter (2 days in office, 3 days remote open to candidates who can commute from Chicago)
Deerfield, IL 60015
The Asset Underwriter will have a blended background ranging from underwriting, portfolio management, and will bring a well-rounded approach to our team. The Underwriter will leverage an already strong understanding of collateral valuations and cash flow analysis to help drive growth, grow the portfolio, and meet income goals. In addition, the Asset Underwriter should feel comfortable forming an opinion and analysis of their loans verbally and in writing.
- Must have 3-5 yrs relevant work experience in managing the asset based underwriting process from proposal to funding inclusive of:
- Providing due diligence input on new lending opportunities
- Evaluating opportunities and operating performance
- Reviewing cash flow forecasts and other forward looking financial models
- Managing relationships and provide oversight with consultants, brokers, contractors, vendors, lenders, and legal counsel.
- Assisting in managing the new deal pipeline and communication with investors and joint venture partners
- Communicating regularly with executive leadership on status and portfolio performance
- Conducting quality control of all documents received and save to internal loan processing system.
- Conducting quality control of transaction documents such as title commitments, purchase contracts, escrow instructions, deeds, closing statements and other documentation common to purchase and refinance transactions. Familiarity with assignments, double escrows, cash purchases, auctions purchases, non-arm's length transactions and other non-traditional situations is a plus.
- Review and QC documentation related to Renovation loans including Rehab/Construction Budgets, Plans, Permits, Certificate of Occupancy, Code Violations, etc.
- Review various ratios, percentages, and loan metrics. Need to fully understand the formulas behind the data being reviewed and how they affect the credit rating of the asset.
- Prepare and submit complete loan files for the Asset Underwriting Manager's review.
- Responsible for requesting and reviewing prior to doc, prior to funding and post-closing conditions; ensuring all documentation and conditions meet the Asset Underwriting Policy.
- Demonstrates analytical thinking, decision making, problem solving skills and sound judgment by gathering and applying relevant data to research and resolve issues.
- Proficiency in Microsoft Office Applications including Excel, PowerPoint, and Word
- Bachelor's Degree required , master's or law degree is a plus