Cherrywood Mortgage, LLC, an affiliate of Angel Oak Commercial Lending, LLC, specializes in small balance commercial real estate lending. The Underwriter position will work under Cherrywood Mortgage, LLC.
Job Summary: The Underwriter will support and assist in the underwriting and analysis of commercial real estate transactions. In this role, the Underwriter will support the Credit department in evaluating potential loan opportunities.
Duties and Responsibilities:
- Reviews and underwrites new commercial real estate loan investment opportunities providing decision support analysis to senior loan officers.
- Analyze financial statements and other credit information; follow up with clients and gather documents (i.e. income, expenses, payroll, etc).
- Draft and prepare underwriting analysis and credit offering memorandums (COM’s).
- Drafts term sheets, application/commitment letters, and other transaction related documents.
- Completes due diligence analysis during the loan closing process including review of leases, rent rolls, third party reports, estoppels, and other business related closing matters.
- Assists with other matters that may be required related to the origination process or portfolio management of the existing portfolio.
- Maintains internal tracking reports such as pipeline report.
- Continues to develop in knowledge and expertise; attends seminars and continuing education classes; completes professionally-recognized designations; participates in professional and industry organizations.
- Financial analysis including assessment of property operating statements for a variety of property types and personal financial statements of individual sponsors.
- Understanding of commercial real estate property valuation techniques including discounted cash flow analysis.
- Market research tools for commercial real estate including multifamily, industrial, retail and office property.
- Computer proficiency skills in Excel, Word, PowerPoint and Outlook. Advanced skills preferred in Excel with the ability to build complex financial models.
Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience:
- Graduate from a college or university with major course work in a discipline related to the work of the position - Business, Finance, Accounting, Economics or Real Estate.
- Minimum requirements of 5-10 years’ experience in commercial real estate lending and underwriting.
Cherrywood Mortgage provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics.