Construction Lending Associate — Underwriting & Origination

Socket.dev; Fort Lee (NJ); Hybrid; USD 75,000 - 125,000; Full time

Job summary

Cross River's Commercial Banking Group seeks an experienced commercial real estate junior loan officer to join the team. You will support the Construction lending group with origination and underwriting of construction loans across residential and commercial assets.

You will report to the Head of Underwriting and Processing and will source and analyze loan requests, gather property data, assess credit risk, and prepare memos for approval, helping to grow a robust loan portfolio.

Qualifications

• 3+ years of relevant construction lending underwriting experience.
• Excellent analytical, organizational, written and verbal communication skills.
• Demonstrated ability to manage and prioritize multiple tasks under tight time constraints.
• Knowledge of commercial lending trends, competition, regulations, and banking compliance policies and procedures.
• Proficiency with MS Excel.

Responsibilities

• Support the Construction team with originating and underwriting of new transactions.
• Source new leads by leveraging existing relationships and establishing new relationships using digital and in person networking opportunities.
• Gather and analyze relevant information for loan requests, including the review of property details, property financial statement pro formas, construction budgets, client data and other pertinent data to determine overall credit worthiness.
• Assess credit risk, establish viability of sources of repayment, and determine appropriate loan structures.
• Manage third party engagements and order necessary searches to complete the underwriting process.
• Prepare credit memos and present loans for approval, with recommendations consistent with bank policy.
• Manage the draw/requisition process, including ordering inspection reports, ordering title continuations, analyzing the documentation submitted in support of the requisition and preparing memos for approval of the requisition.
• Interface with Loan Servicing as they monitor loan payments, tax payments, insurance coverage and premium payments to ensure they are being paid; communicate with borrower on erroneous or late payments to ensure resolution.
• Interface with auditors, regulators etc. in response to questions or issues on a loan file.
• Maintain current knowledge of internal policies, as well economic, financial, political and legislative trends to determine possible impacts on commercial lending.
• Perform other duties as assigned.

Skills

Analytical skills

Organizational skills

Written & verbal communication

MS Excel

Regulatory knowledge

Education

Bachelor's degree in Real Estate, Finance, Business, Accounting, Economics, or a related field

Job description

Cross River's Commercial Banking Group seeks an experienced commercial real estate junior loan officer to join the team. You will support the Construction lending group with origination and underwriting of construction loans across residential and commercial assets.

You will report to the Head of Underwriting and Processing and will source and analyze loan requests, gather property data, assess credit risk, and prepare memos for approval, helping to grow a robust loan portfolio.