Multifamily Underwriting Intern - Summer 2027

Bankmerchants; Carmel, Northern (IN, KY); Hybrid; USD 22,000 - 30,000; Part time

Job summary

Merchants Bancorp in Carmel, Indiana, offers an Underwriting Intern program that supports multifamily and healthcare loan origination, analysis, and closing activities. You’ll work with experienced underwriters and processors, using Excel for financial modeling and due diligence, while preparing documentation for Loan Committee.

The program emphasizes practical learning, with mentorship and a final presentation of project results to leadership.

Qualifications

• Have completed at least your sophomore year of college; graduates welcome.
• All degree programs will be considered.
• High school diploma or GED from an accredited institution required.
• Exhibit these core disciplines: teamwork, communication, critical thinking, integrity, self-discipline, and adaptability.

Responsibilities

• Underwrite components of multifamily/healthcare loans to Bank guidelines.
• Provide underwriting narrative input and exhibits to Loan Committee.
• Analyze third party reports including Phase I Environmental, Appraisal, and Property Condition Reports.
• Review borrower documents, financial statements, and Real Estate Owned schedules.
• Collaborate with underwriters and loan processor to confirm due-diligence adequacy.
• Communicate outstanding due-diligence issues to processor/borrower for the approval narrative.
• Work with Excel in financial models related to underwriting and funds flow.
• Collaborate with closing team to ensure due diligence is obtained and verified.
• Review loan documents to ensure clear to close.
• Attend training on applicable subjects for the position.
• Apply coursework to projects and implement solutions or recommendations.
• Have a manager and mentor to guide day-to-day work.
• Deliver a final presentation of project results and business recommendations.

Skills

Teamwork

Communication

Critical Thinking

Integrity

Self-Discipline

Adaptability

Education

Sophomore year completed

High school diploma or GED

Any degree program

Tools

Microsoft Excel

Job description

Description

Are you looking for an internship that encourages creativity and innovation? We believe our people make the difference in our business, and our interns are no exception. In our internship program you will be responsible for supporting your assigned team with a variety of projects and administrative work. No coffee runners work here in the summer; you will do real work that you can add to your resume once you have completed this program. For our top performing interns, this program is our pipeline for many of our entry level full-time positions.

As a Multifamily Underwriting Intern, you will…

• Underwrite components of multifamily and/or healthcare loans originated by Merchants Capital to Bank guidelines.


• Provide underwriting narrative input and all applicable forms & exhibits to Loan Committee in a timely manner.


• Analyze and review third party provided reports including Phase I Environmental, Appraisal, and Property Condition Reports.


• Review borrower provided organizational documents, financial statements, and Real Estate Owned schedules.


• Collaborate with underwriters and loan processor to confirm adequacy of due diligence (DD) for the loan file.


• Communicate to the processor/borrower any outstanding DD issues in connection with preparing the approval narrative, forms & exhibits.


• Work extensively with Microsoft Excel in financial models as it relates to the underwriting and flow of funds on transactions.


• Collaborate with closing team to ensure DD is obtained and verified.


• Review loan documents to ensure clear to close.


• Attend training on applicable subjects when available and appropriate for position.


• The goal is that you will take what you have learned in your course work, apply it to your projects and then implement those solutions or recommendations.


• Have both a manager and mentor to help guide your through our program and your day-to-day work.


• Be given the opportunity to deliver a final presentation of your project/s results and make business recommendations to your department, team members and Company leadership.

We also offer weekly HR Development Days to help our interns grow professionally and learn about our industry. Look at what we have to offer…

• Mock interviews and resume review with our talent management team will help prepare you to enter the workforce.


• LinkedIn training will help you build and develop your personal profile and teach you about the value of online professional networking.


• DISC Assessment - coursework on how to use your DISC results to help improve teamwork, communication, and productivity in the workplace.


• "Company Insiders" Training - Listen to current Merchants' employees tell their success stories and learn about who we are and what each department does to support our success.

Requirements

What we are looking for…

• Have completed at least your sophomore year of college. Graduates are welcome to apply as well.


• All degree programs will be considered.


• High school diploma or GED from an accredited institution required.


• Exhibit these core disciplines: Teamwork, Communication, Critical Thinking, Integrity, Self-Discipline, and Adaptability.

Ranked as the top-performing U.S. public bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana, operating multiple lines of business, including multifamily housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking. Merchants Bancorp conducts its business through its direct and indirect subsidiaries, Merchants Bank, Merchants Capital Corp., and Merchants Mortgage, a division of Merchants Bank.

Merchants Capital was established in August of 1990 as a mortgage banking firm specializing in multifamily housing and health care facilities finance. With extensive experience in these types of finance, the company is a premier provider and servicer of Multifamily, Affordable, Healthcare, and Student Housing. Our mission is simple: to provide the best origination and service of our loan and investment products with exceptional customer service, accuracy, creativity, speed, and conformance to regulations.