AVP, Senior Underwriter
Boston, MA; Washington, DC; Dallas, TX; San Francisco, CA
The AVP, Senior Underwriter will be responsible for reviewing the underwriting and due diligence of transitional loans in the MF1 program. They will be responsible for providing timely review and feedback to the underwriter, to problem-solve and/or escalate credit issues and risks prior to loan/investment committee. They will serve as a resource to the underwriting and deal teams and as a liaison to the investment committee. They will be responsible for managing relationships with key stakeholders including joint venture partners, borrowers/sponsors, and the Debt Investments team.
- Ensure consistent UW policies, procedures, and processes are in place and followed, including underwriting models/templates and ASR content
- Be go-to for underwriting issues from internal and external partners
- Review underwriting packages prior to distribution to Investment Committee. These reviews should anticipate and address credit issues that are likely to be raised by committee members.
- Monitor status and progress of all deals in underwriting (under application) and solve or elevate issues that arise during due diligence
- Gain credibility as a key, trusted resource to senior management that is knowledgeable and conversant on each deal, especially key risks/mitigants, thoroughness of Due Diligence and integrity of data
- Regularly communicate with the deal team, including legal as necessary, on deal level issues to ensure proper loan structure and credit.
- Review all third-party reports and due diligence to ensure early identification and mitigation of risks, issues, and/or concerns.
- Review Borrower Organizational Charts and due diligence to ensure program requirements are met and identify/mitigate credit weaknesses or issues.
- Ensure questions that are raised by IC are addressed, in coordination with the underwriter; ensure inclusion in ASR as appropriate.
- Ensure outstanding deal/transaction issues and concerns are resolved prior to closing.
Our client is a real estate investment management company known for its vertically-integrated platform and expertise in the multifamily sector. This organization is a people-focused investment manager with national experience in U.S. residential real estate. With over 50 years of experience, they manage approximately $12 billion in real estate assets on behalf of their global institutional clients. Our client aspires to improve lives through expert capital stewardship and exceptional living experiences. Their reputation for innovation and prudence attracts residents in the U.S. and investors from across the nation and from around the globe.
- A seasoned real estate professional with comprehensive knowledge of the residential sector. 7+ years of experience preferred.
- Savvy and experienced underwriting, structuring, and monitoring of multifamily debt transactions, including transitional loans.
- Experience with transitional assets, construction draw reviews, and/or value add renovations a plus.
- Experience with GSE multifamily lending programs preferred.
- Special Servicing, Loan Restructuring/Workout and Distressed Loan experience a plus
- Experience in both debt and equity transactions a plus
- Knowledge of full capital structures
- Demonstrated successful experience in structuring equity, mezzanine and preferred deals
- Excellent verbal and written communications skills
- Ability to work independently, with limited support to deliver results
- Ability to influence and persuade, using a variety of approaches appropriate for the situation and party being influenced
- Ability to travel for site inspections
- Bachelor’s Degree in a related field; MBA or related master’s degree a plus
- Excellent computer skills; proficiency with Microsoft suite of products, Yardi (helpful)
- Investment analytical skills and advanced Excel modeling capabilities
Physical Requirements: (amount of standing, walking, sitting, typing, lifting etc.)
- Stand and walk or sit alternatively depending on specific needs of the day
- Ability to lift at least 50lbs - Travel luggage
Vision Requirements: (visual needs for the position – color, small details, inspections etc.)
- Required to view computer screen, complete forms, read and review reports, and a wide variety of correspondence, including small details
Hearing Requirements: (hearing needs for the position –telephone, meetings, etc.)
- Required to communicate over telephone and in person with various people and levels of management
Speaking Requirements: (clarity, customer interaction, presentations, etc.)
- Required to communicate over telephone and in person
- Must be comfortable speaking in front of small, medium and large groups
- Must be comfortable speaking to senior management
Driving Requirements: (driving needs for the position – from property to property, travel, etc.)
- Must have valid driver's license and automobile insurance
Reasoning Development: (Low, Medium or High – for ability to apply logical thinking to defined problem solving)
- Must be able to apply principles of logical thinking to define problems, collect pertinent data, establish facts, draw valid conclusions, and initiate appropriate course of action
- Must effectively convey ideas, images and goals to a diverse group of personalities
Working Environment: (Indoors, Outdoors, special things to know about job)
- Office - Indoors mostly
- Travel – About, 25-35% travel required potentially including international