Multi Family Investment Loan Associate Underwriter

Job Description

Multi Family Investment Loan Associate Underwriter Thursday, September 12, 2024 At Acra Lending, our employees enjoy an opportunity to work with great people. We celebrate several events throughout the year accompanied by raffles and giveaways for employees nationwide. We are especially proud to give back to our community and truly enjoy one another's company. We are looking for candidates to join our team who are passionate about their vocation, committed to making a contribution, and looking to gain experience to grow in their career. Our headquarters are located on a beautiful campus in Irvine, California, and if you work out of our Irvine office, we can also provide a free gym membership. We are currently searching for a Multi Family Investment Loan Associate Underwriter. This role will be working in the Investment Loan Division of Acra Lending as an underwriter. The MF ILA will be responsible for mitigating risk while assessing the overall lendable-worthiness of the borrower. These responsibilities will be carried out by conducting complex underwriting which assesses asset profitability/sustainability. Prepare a detailed credit summary of commercial multi-family applicants requesting credit by analyzing the business, interpreting the finance need, identifying the strengths and prevailing risk factors, and rendering a final credit decision. Pay Range: $95,000 - $115,000 Essential Duties and Responsibilities: Review and analyze complex loan scenarios to determine the feasibility of the transaction. Identify risks and summarize ways to mitigate outlined risk. Assess credit worthiness, income flow analysis, rent roll analysis, and determine decisioning on loan approval. Analyze operating performance and proactively identify any issues. Review environmental and feasibility reports. Manage a portfolio of new loan submissions and make recommendations leading to approval or discuss reasons for rejection with the Director of Credit. Address file escalations from other departments. Review and clear underwriting conditions and underwrite new loans when workload dictates. Identify potential pipeline, underwriting, and operating system concerns to UW Management. Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below 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. Ability to articulate issues and create possible solutions while under pressure. Ability to solve problems and reasonably question while aligning to the ILD risk guidelines. Expertise in state and federal lending regulations. Knowledge of leverage ratios such as LTV, As Is, LTC while understanding their interactions with DSCR, ROI, and NOI. Effective communication skills, including speaking and writing with external/internal customers. Time management, prioritization skills, decision-making, and critical thinking skills. Ability to work in a collaborative team environment. Education and/or Experience: 5+ years of recent underwriting experience. Experience underwriting Non-QM and “Alt-A” paper mortgage loans required. Experience working in the lending capacity within a private fund, private money, investment brokerage, and a conforming role. Language Skills: Ability to read and comprehend simple instructions, short correspondence, and memos. Ability to write simple correspondence. Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization. Mathematical Skills: Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to draw and interpret bar graphs. Reasoning Ability: Ability to apply common sense understanding to carry out detailed instructions. Ability to deal with problems involving a few concrete variables in standardized situations. Computer Skills: Advanced knowledge of Microsoft Office applications (Word, Excel, Outlook, etc). Benefits: Our benefit offerings include: Medical, dental, vision, wellness programs, EAP counseling services, FSA & HSA, company-sponsored life insurance for employees, voluntary life insurance for employees, spouses, and children, AD&D Insurance, voluntary short-term and long-term disability, critical illness insurance, accident insurance, legal assistance, pet insurance, living will and trust preparation discounts, commuter program, annual walking challenge, employee appreciation events, and monthly sales awards. #J-18808-Ljbffr