Commercial Real Estate Underwriter
2 weeks ago
**About this role**:
Wells Fargo is seeking a Commercial Real Estate Underwriter.
**In this role, you will**:
- Review and research less complex operational challenges that require evaluation and selection of alternatives and exercise independent judgement to guide medium risk deliverables
- Present recommendations for resolving more complex situations and exercise independent judgement while developing expertise in the function, policies, procedures, and compliance requirements
- Collaborate and consult with Commercial Real Estate Underwriting colleagues, internal partners, and stakeholders, including internal and external customers
- Your responsibilities include, but not limited to:
- Performing loan file review procedures on pools of commercial mortgage loans and properties
- Maintaining and updating critical data to reflect the results of loan file review procedures.
- Responsible for evaluating financial performance of borrower / guarantor based on a variety of factors. This would include review of financial statements and compare it against CRE guidelines.
- Evaluate existing leases within the property to determine possible impact on cash flows by reviewing for pertinent clauses, such as termination options / go dark.
- Review loan documents and summarize salient facts of the loan and ongoing covenants (both financial and non-financial) to be maintained by the borrower.
- Review third party documents, such as appraisal, site inspection report, property condition assessment report to infer overall performance of the property and identify significant factors which may impact asset.
- Interacting with clients to discuss, explain and reconcile data and offering document exceptions.
- Reviewing the Securitization offering documents for accuracy and completeness of collateral disclosure
- Document and synthesize all the findings based on above mentioned reviews.
- Assisting with training, mentoring, performing quality checks and developing junior team members
- Contribute towards building strong client relationships through interactions with client personnel.
- Contribute to a positive team attitude.
**Required Qualifications**:
- 2+ years of Commercial Real Estate Underwriting experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.
**Desired Qualifications**:
- Master's degree in accounting, finance, economics, business administration
- 7+ years of relevant Commercial Real Estate working experience.
- Previous CMBS or ABS experience
- 5+ years of experience in financial cash flow modeling securitization transactions in Excel/VBA.
- Exposure to industry platforms such as REIS, Costar, TREPP
- Knowledge of CMBS-related legal/offering documents and commercial mortgage loan and property source documents
- Proficiency with Microsoft Office products (Excel, Word, Access); spreadsheet modeling experience is a plus.
- 2+ years of experience in coordinating and communicating with working parties such as bankers and portfolio managers.
**Posting End Date**:
26 Dec 2024
**Job posting may come down early due to volume of applicants.**
**We Value Diversity**
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
**Applicants with Disabilities**
**Drug and Alcohol Policy**
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
**Wells Fargo Recruitment and Hiring Requirements**:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.
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