Commercial Underwriter

Capital Impact Partners; Austin (TX); Remote; USD 92,000 - 124,000; Full time

Job summary

A leading community development organization is seeking a Commercial Underwriter to support financing for affordable housing and community facilities. The role involves underwriting, credit approval, and due diligence to help build equitable communities. Candidates should have experience in financial analysis and project management, along with strong communication skills.

Benefits

Annual incentive

Remote work option

Qualifications

• Minimum of 3 years experience required.
• Familiarity with New Market Tax Credit (NMTC) is helpful.
• Ability to manage multiple tasks and attention to detail.

Responsibilities

• Conduct due diligence and underwriting for community facility transactions.
• Assist in preparing loan approval requests.
• Manage loan application material collection and due diligence.

Skills

Analyzing financial statements

Credit risk assessment

Project management

Excellent communication skills

Education

Degree in finance, real estate, or related field

Tools

Microsoft Office Suite

Salesforce or other CRM

Job description

1 day ago Be among the first 25 applicants

Capital Impact Partners provided pay range

This range is provided by Capital Impact Partners. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

$92,660.00/yr - $123,701.00/yr

About The Organization

The Momentus Capital branded family of organizations - which includes Capital Impact Partners, CDC Small Business Finance, and Momentus Securities - is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems that have failed to address systemic issues of inequality, economic empowerment, and the widening wealth gap by offering a continuum of financial, knowledge, and social capital to help local leaders build inclusive and equitable communities and create generational wealth. This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology services that advance locally-led solutions. Our suite of products and services, experience, and scope will foster equitable job creation, wealth building, and economic mobility.

Position Summary:

The Commercial Underwriter is responsible for conducting due diligence and underwriting for community facility and New Market Tax Credit (NMTC) transactions to finance the development of affordable housing, charter schools, health centers, grocery stores, cooperatives, and small businesses. The Underwriter works closely with Regional Directors, Market Managers, Business Development Officers, Loan Officers, and Credit Officers to obtain credit approval for new loans and also to screen financing opportunities for term sheet offers. As part of the Community Development Lending (CDL) team, the Commercial Underwriter supports the achievement of regional and overall Credit and Lending work plan goals.

Reporting Relationships:

The Commercial Underwriter reports to the Director of National Underwriting but will work closely with Loan Originations and Credit personnel to underwrite transactions throughout the US to help meet Momentus' lending goals on both the CDL and CDC Impower95 teams. The Commercial Underwriter will communicate with internal stakeholders, borrowers, third party lenders, attorneys and other external parties, as appropriate.

Essential Responsibilities:

• Underwriting: The Commercial Underwriter will use the application package and third-party reports to underwrite the financing request. Underwriting will include analysis of: historical financials, financial projections, construction budgets, repayment sources, market and regulatory conditions, industry reports such as CoStar and LoopNet, appraisals, entitlement/land use assessments, environmental reports, plan and cost reviews, property conditions reports, requirements related to other capital sources and subsidies, borrower and guarantor tax returns and business & personal financial statements, management and leadership of sponsor, commercial tenant leases, and other analysis as appropriate to assess credit risk on a given transaction. The Commercial Underwriter will compare the loan request to Momentus' standard product and credit requirements to ensure conformance or identify exceptions
• Credit Approval: The Commercial Underwriter will assist the Regional Directors, Market Managers, Business Development Officers, and Loan Officers in preparing written loan approval requests for presentation to the assigned Approvers and/or Credit Committee for final approval. They will prepare the loan approval package and work closely with Loan Officers to present the credit approval requests and recommendations
• Screening: The Commercial Underwriter will assist in preparation of the screening memo including historical financial analysis and projections, focusing on sensitivity analysis and takeout scenarios of the loan request
• Due Diligence: The Commercial Underwriter will manage the collection of the loan application materials from the borrower and together with the Closing Team, coordinate third-party due diligence reports (e.g., appraisal, plan and cost review, etc.)
• Site Visits and Conferences: The Commercial Underwriter may conduct a site visit alongside other team members as part of underwriting each transaction and will attend or lead customer calls as needed to support Regional Directors, Market Managers, Business Development Officers, and Loan Officers
• Closing: The Commercial Underwriter will work closely with the Closing and Legal teams as well as the Head of Credit to ensure that the loan closes in accordance with the approved terms and conditions, review loan documentation and due diligence items submitted during the closing process, and document minor or material changes to the loan approval, if necessary
• Customer Service & Relationship Management: The Commercial Underwriter will practice a client-service mindset to maintain a positive and professional relationship with Momentus customers and business partners (which include third party lenders, attorneys and other external parties such as appraisers) by both initiating and responding promptly to any and all requests in a responsive, consistent, and accurate manner. The Senior Commercial Underwriter may at times be the primary point of contact for the Borrower during the underwriting process
• Pipeline Management: The Commercial Underwriter will input prospective new transactions details into the transaction database and/or Customer Relationship Management system and assist the department with reporting and management of the regional pipelines
• Template, Guideline, & Resource Development: The Commercial Underwriter will also assist the Director of Underwriting in the development of standardized underwriting guidelines, templates, as well as standardized underwriting resources, for use across the Lending department. The Commercial Underwriter may also coordinate internal training on various credit topics
  
  
  

Requirements

• A degree in finance, real estate, urban planning, public policy, business administration, or a related field is preferred. However, education and experience are considered holistically
• A minimum of 3 years of experience
• Expertise in analyzing financial statements and tax returns of both nonprofit and for-profit organizations, small businesses, and individuals, including their operating cash flow and their real estate operations. Familiarity with complex credit and Borrower ownership structures in real estate, including Joint Ventures, Equity Partners, and Limited Partnerships. New Market Tax Credit (NMTC) knowledge and experience with government related financing structures and requirements including HUD, LIHTC, and Fannie Mae helpful but not required, a willingness to learn is important
• Previous experience working in a CDFI or community based organizations preferred
• Experience with federal, state, and local government funding sources for capital and operating needs of affordable housing and other community-based organizations
• Experience working with multiple internal and external stakeholders including participating lenders, borrowers, legal counsel, loan officers, loan closers, and portfolio/asset management
• Working experience with both private sector financial institutions and public agencies
• Proficiency with the design, permitting, and construction process for developing real property
• Familiarity with business law concepts including contracts, loan collateral, uniform commercial code, creditors' rights, forms of business organization, and sufficient knowledge to review and negotiate loan documents
• Proficiency with Microsoft Office Suite Programs, and other database software
• Excellent writing and communication skills
• Ability to adapt to change and implementation of new products, programs, and technology platforms
• Salesforce or other CRM experience desired
• Experience with financial spreading software
• Excellent project management skills and ability to manage multiple tasks
• Strong attention to detail
  
  
  

Benefits

The salary range for this position is $92,660 -$123,701 and is eligible for an annual incentive.

This role is eligible to work remotely.

All employees must be legally authorized to work in the United States. The Company will not sponsor applicants for work visas.

EEO: Momentus Capital is an equal opportunity employer and is fully committed to providing employment for qualified individuals, free from discrimination on the basis of race, color, religion, sex, age, sexual orientation, gender identity, national origin, disability, marital status, pregnancy, childbirth or related medical conditions, or any other protected characteristic established by applicable law.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Non-profit Organizations and Primary and Secondary Education

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