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Construction Loan Underwriter
The Construction Loan Underwriter evaluates and underwrites new construction loans, and extension requests for the existing loan portfolio. Works with Commercial Relationship Managers (CRMs) to complete an initial project analysis, loan sources and uses and assists in overall structuring of construction loans. Collects, reviews and analyzes financial data including borrowers’ tax returns and financial statements, as well as data supporting a given construction project. Prepares quality narrative presentations within the Bank’s loan underwriting system and presents it to management and loan committees. Visits construction sites, documents on-going project progress, and reviews construction draws as needed.
- Screen new loan requests regarding structure, purpose and source of repayment before submitting for further approval and processing
- Manage loan pipelines for loans in process and maturing construction loans; prioritize transactions and keep the pipeline accurate and current
- Perform spreadsheet and narrative credit analysis on construction projects
- Analyze and spread borrower credit, including credit report, personal, and business financial statements, personal and business tax returns, schedule of real estate owned, property rent rolls, leases, and operating statements
- Review borrower organizational documents and accurately present the borrower structure along with Guarantors in the Narrative Review and aid the loan processor in decisioning preliminary title reports
- Prepare and recommend Loan Credit Memorandums; identify and summarize all file conditions on the Loan Credit Memorandum to ensure smooth documentation and closing
- Present loan recommendations to credit committees or senior management for approval
- Work with the loan processor to review outstanding conditions through the loan closing process
- Coordinate with the Loan Documentation group to ensure prompt documentation and funding Review construction loan documentation
- Assist in portfolio management functions such as risk rating assessments, loan servicing requests, and special asset transfers
- Provide training to processors and commercial credit analysts as needed
- Serve as a backup for construction loan draw requests
- Manage and review workflow to ensure the department’s SLA are achieved and credit policy and guidelines are adhered to for all credits
- Address/resolve exception items noted from Loan Review/Audit Department Continual process improvement assessment and implement revisions to the process as necessary
- Communicate with appropriate Director(s) and/or Executive Management on recommendations for improving efficiency, productivity and quality of output
- Other items as required
- Bachelor’s degree, preferably in Business/Finance/Accounting 5 years’ related experience in Construction and Commercial Real Estate Underwriting required
- Demonstrated understanding of Basic Accounting and Financial Statements, understanding of Global Cash Flow, and experience with spreading software
- Ability to promote a team atmosphere between underwriting staff and sales staff
- Strong communication skills (verbal and written) and professional business etiquette
- Ability to work in a fast-paced environment while delivering accurate and quality work product
- Excellent organizational skills
- Proficiency in Microsoft software Knowledge of Bay Area real estate market preferred
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