Sr. Underwriter - Seniors Housing

at Live Oak Bank • Wilmington, NC

(View all jobs)

Share this position:

Share

 

POSITION SUMMARY:

The Senior Underwriter-Seniors Housing is responsible for analyzing and underwriting potential loans made across the  broad spectrum of seniors housing assets, primarily real estate transactions with a significant operational component.   In addition to direct underwriting responsibilities, a portion of the Senior Underwriter’s time will be spent reviewing the work of and providing coaching and guidance to the Underwriters. The Senior Underwriter will work with key business functions, including the origination, closing, servicing, capital markets, and legal departments.

 

RESPONSIBILITIES:

  • Critically review borrower credit information, third party reports, physical property information, financial and market information, operator qualifications, budgets and proforma assumptions, to determine whether the borrower and property meet requirements for extension of credit
  • Draft and finalize the underwriting submittal package, which includes describing the transaction’s strengths and weaknesses, discussing risks and mitigants, and requesting any associated waivers 
  • Work closely with both the industry lending team and the credit team to ensure risks are appropriately identified, presented, discussed, and mitigated.
  • Deliver professional service to Borrowers through telephone and electronic communication, including asking critical questions, requesting and obtaining new information, and building a complete understanding of all aspects of the transaction.  
  • Provide training and mentoring internally to other underwriters, analysts, processors, and other team members as needed
  • Provide necessary support and direction during the closing process to assure conformity with the major credit terms of the transaction
  • Participate in process improvements and technological enhancements that facilitate smooth deal execution
  • Remain current on industry focused lending programs (including HUD, Fannie Mae, Freddie Mac), relevant healthcare policies, and industry regulation, including participation in regular training provided by trade associations and at major industry conferences.

Qualifications:

  • Strong seniors housing industry knowledge and experience (Independent Living, Assisted Living, and Memory Care)
  • Minimum of three (3) years of progressive Seniors Housing real estate underwriting experience with a focus on conventional lending, HUD, Fannie Mae, or Freddie Mac.
  • Possess thorough knowledge of loan products, guidelines, policies, and procedures
  • MAP or LEAN Certified (Preferred but not required)
  • Construction lending experience (Preferred but not required)
  • Exceptional credit sense, judgment and decision-making skills
  • Demonstrable technical skills in underwriting, structuring, and closing complex deals
  • Requires an independent worker with strong project management skills
  • Excellent accuracy and attention to details
  • Ability to adjust to industry changes
  • Must be proficient in MS Office Suite

SKILLS:

  • Highly motivated creative thinker
  • Team player willing will to contribute to success in a variety of roles
  • Ability to manage and prioritize multiple tasks simultaneously
  • Comfortable in a fast-paced environment with shifting and dynamic priorities

Education:

  • Bachelor’s Degree required

PHYSICAL DEMANDS/WORK ENVIRONMENT REQUIREMENTS:

  • Vision, hearing, speech, movements requiring the use of wrists, hands and/or fingers
  • Able to sit, stand, stoop and bend
  • The ability to work the days and hours required to fulfill the essential functions of the position
  • The ability to work long hours and to multitask
  • Must have a valid driver’s license

MENTAL DEMANDS:

  • Learning, thinking, concentration
  • The ability to interact with others and exercise self-control
  • The ability to work under stressful conditions, particularly in customer situations
  • The ability to make decisions and exercise discretion, when necessary