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Underwriter
Union Bank
New York, NY, United States
Job Details - this job has expired, please see similar jobs below
The Commercial Mortgage Backed Securities (CMBS) Underwriter evaluates new loan opportunities for suitability, both under Union Bank’s Underwriting Guidelines as well as current CMBS market standards. The incumbent is part of a team responsible for representation of the credit metrics and the quality of the loan to the CMBS Credit Committee and will oversee transactions from their initial sizing/pricing through securitization. The incumbent will also be responsible for assisting Union bank originators in understanding the CMBS loan product and generating significant loan volumes through those channels. The position reports to the Head of CMBS which is part of the Real Estate Capital Solutions business unit, with offices in New York and San Francisco, within Union Bank's Real Estate Industries Group (REI).
Management or Supervision: No
Major Responsibilities:
• Produces/reviews underwriting files for CMBS Loans.
• Ensures the quality, completeness and accuracy of the analysis that precedes credit and business decisions as well as manage the overall delivery of the credit transaction.
• Provides preliminary underwriting metrics and analysis required to accurately price and size new lending opportunities.
• Evaluates loan suitability in the context of the current CMBS market.
• Partners with borrowers, brokers and originators to ensure information used for underwriting is accurate and received in a timely manner.
• Analyzes and recommends solutions for underwriting issues that arise during loan underwriting and through the securitization process.
• Responsible for representation of the credit metrics and quality of the loan to the CMBS Credit Committee and will be involved in transactions from their initial sizing/pricing up through securitization.
• Prepares and presents loan credit to Business Committees and Credit Committees to include reports with cash flow, risks and strengths, borrower / sponsor and market analysis.
• Reviews and analyzes third party reports, including appraisal results; as well as sponsors credit reports and representations.
• Produces asset summary reports and other support documentation to prepare loans for securitization.
• Creates and participates in presentations of loans to Rating Agencies and CMBS B-Piece buyers.
• Oversees ongoing monitoring and management of the loan portfolio.
• Follows current underwriting trends, real estate markets, and rating agency guidance.
• Ensures loan underwriting is in compliance with Union Bank’s underwriting guidelines.
• Reviews and provides commentary on legal documents in conjunction with the relationship manager.
• Develops relationships with Union Bank loan originators, educating them on the CMBS loan product and leading to the generation of significant loan volumes over time.
Qualifications
• 4+ years of relevant experience underwriting CMBS Conduit loans for financial institutions.
• Bachelor’s degree required.
• Extensive US Commercial Real Estate market knowledge.
• Knowledge of rating agency underwriting methodologies.
• Ability to quickly become well versed in Union Bank's credit policies and procedures and regularly adapt to change.
• Sound operational and risk management knowledge.
• Excellent communication and interpersonal skills.
• Excellent financial acumen and strong analytical abilities
The above statements are intended to describe the general nature and level of the work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it’s the bank’s policy to only inquire into a candidate’s criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.