Job Description

Under limited supervision, this position is accountable for originating and underwriting distressed/non-performing notes.The underwriter must be proficient at analyzing financial data, industry knowledge and existing economic conditions to formulate quantitative and qualitative opinions on the borrower/guarantor, property and the prospective loan structure. The underwriter is responsible for performing diligent and thorough research and analysis which is the basis for approving a sound transaction. Adherence to credit administration procedures and strong credit analysis skills will result in informed credit decisions, a higher quality loan portfolio and ultimately lower loan losses.

PRIMARY RESPONSIBILITIES INCLUDE:

· Must be able to source, underwrite, and assess performing and non-performing notes.

· Must be able to track performing and non performing notes, source them for potential acquisition.

· Must prioritize, organize, and oversee acquisition of distressed notes.

· Must have a strong working knowledge of all note processing, title and escrow procedures, foreclosure/legal procedures. 

· Reviewing, examining and underwriting distressed notes to ensure soundness, business value and compliance.

· Assessing loan attributes and documentation for soundness and accuracy

· Reviewing, evaluating and synthesizing data to ascertain loan viability and identify risk issues and potential fraud

· Evaluating debt coverage ratios, credit score, property valuation and various other factors related to the value of the property.

· Determining and documenting loan conditions and communicating requirements and/or decisions

· Assisting in identifying, recommending and/or negotiating alternative loan requirements, funding and/or loan structuring solutions

· Providing input on new and/or existing underwriting processes, procedures and/or approaches to non-performing notes.

· Identifying and recommending alternatives regarding loan-structuring and financing solutions

· Reviewing and analyzing special conditions, loan deficiencies and exception requests to determine appropriate courses of action