Underwriting Analyst

Summary

The Underwriting Analyst is responsible for supporting NeighborWorks Capital’s loan officers in evaluating, underwriting, and presenting new loan opportunities by obtaining loan application materials from potential borrowers; reviewing and analyzing financing statements, property operations, and development plans; updating internal information systems; and drafting sections of credit memoranda for approval authorities. The Underwriting Analyst reports to the Chief Lending Officer and provides information to the CLO, CEO and senior management team, Loan Committee, and Board of Directors.

About NeighborWorks Capital

NeighborWorks Capital (NC) is a national community development financial institution (CDFI) that serves the real estate financing needs of the 250 members of the NeighborWorks America network located in all 50 states and the District of Columbia. NC is certified by the U.S. Department of the Treasury as a CDFI and is governed by an eleven member Board of Directors, a majority of whom are Executive Directors of NWOs and industry leaders with expertise in community development, lending and nonprofit operations. NC is rated AA- by Aeris Insight.

NC’s current capitalization is $140 million with more than 85 loans ($100 million) outstanding nationwide. Through increased marking and strong customer relationships our loan originations have doubled since 2016 and are projected to double again over the next five years. As out loans increase in number, size, and complexity we need to increase the capacity of our staff.

NC is headquartered in Silver Spring, Maryland and provides loans to members of the NeighborWorks network for development projects beneficial to their communities, including affordable rental, for-sale housing, and commercial development, and for business expansion NC’s loans are used for predevelopment costs, acquisition of sites and properties, construction or rehabilitation costs, permanent financing for operating properties, and enterprise-level financing. In addition, NC provides development services to assist customers structure viable loan appli­cations and projects.

Related duties and responsibilities

Loan Underwriting and Analysis

  • Support Loan Officers by conducting thorough due diligence review and evaluation of various aspects of loan underwriting such as evaluating feasibility and likelihood of repayment sources, appraisal reviews, construction cost reviews, property condition reports, environmental reports and site inspections.
  • Assist Chief Lending Officer and other members of the Lending Team in assembling materials for the NC Loan Committee including loan requests, pipeline and other information in a well-organized, accurate and timely fashion.
  • Maintain thorough and organized underwriting files for loans in process.
  • Assist in drafting loan narratives for submission by Loan Officers to the Chief Lending Officer, CEO, and Loan Committee.
  • Prepare spreadsheets, cash flow analyses, and collateral assessments with commentary in evaluation of loan requests.

Customer Relationship Management

  • Attend appropriate network and industry conferences and represent NeighborWorks Capital in business development and customer relationship-enhancing activities.
  • Maintain communications with customers and NeighborWorks America relationship managers.

General

  • Work collaboratively in a team environment with shared goals and participate in joint problem solving; willingly cooperate with co-workers
  • Proactively induce borrowers to deliver timely information when needed
  • Meet many deadlines while managing multiple customers’ needs
  • Maintain flexibility and adaptability to change
  • Come to meetings prepared, honor work commitments, meet deadlines
  • Communicate and listen courteously and effectively with others – deal with issues directly, in a respectful and timely manner, focus on resolving the issue while not criticizing the person
  • Other projects as assigned

Qualifications

  • Undergraduate degree required and at least 1 year of experience with financial analysis, commercial real estate lending or financial institution preferred; an advanced degree in relevant field (finance, planning, etc.) is a plus
  • Proficiency in analyzing financials of nonprofit and for-profit organizations and real estate operations (in particular rental housing and community facilities).
  • Knowledge and experience with affordable housing/community development finance and nonprofit development organizations preferred
  • Commitment to community development, low income communities and strong work ethic
  • Demonstrated ability to prepare clear, accurate, well-organized written and financial reports and to communicate verbally in an effective manner
  • Proficient in Microsoft Office software programs, with strong and thorough Excel skills, and willingness to expand skill base, especially with customer relationship management applications
  • Self-starter, ability to work independently and as well as collaboratively in small teams in a mission-focused organization
  • Capacity to prioritize multiple tasks to meet customer deadlines while ensuring credit integrity
  • Occasional travel within U.S. required (10%)
  • Fluent in English
  • Possess valid U.S. driver’s license.

Compensation:

Competitive Salary plus excellent benefits package that includes medical, dental, short and long-term disability, 10 paid holidays, PTO & sick leave, life insurance, 6% contribution to 401(k), transportation subsidy, and bonus potential up to 10% of salary. No phone calls please. NeighborWorks Capital is an Equal Opportunity Employer. Women and minorities are strongly encouraged to apply.

How to Apply:

Please submit a letter of interest, resume, and salary requirements by email or mail to:

Stephen Peelor
Chief Lending Officer
8484 Georgia Avenue, Suite 330
Silver Spring, MD 20852
speelor@neighborworkscapital.org