VP, Underwriter

Description

The VP will have direct responsibility for recommending investments in healthcare and multifamily commercial real estate (CRE) debt. Reporting to the Chief Investment Officer of Merchants Investment Partners, this role will serve as the primary internal-facing entry point for all prospective CRE loans targeted for Merchants Investment Partner debt funds and investment vehicles.

Merchants Investment Partners (“MIP”) is the 3rd party capital investment manager subsidiary of Merchants Bancorp. Along with its affiliates, Merchants Bank of Indiana and Merchants Capital, MIP invests in CRE loans originated by Merchants Capital. Merchants Capital originates more than $5 billion of loans for the Merchants Bank and MIP balance sheets each year. In addition to purchasing loans, MIP’s responsibilities include managing securitizations and the issuance of SRT and CMBS transactions.

Requirements

Primary Responsibilities

• Senior member of the MIP team responsible for investments and management of the healthcare and multifamily CRE loan pipeline and portfolio
• Work with loan originators to review, price, structure and help source loan opportunities that meet the credit and return requirements for MIP
• Screen all incoming loans for sponsor and credit worthiness to determine if term sheets should be issued and full due diligence should commence
• Work with Merchants Capital and Merchants Bank underwriting, legal and closing teams to manage loans through the full due diligence lifecycle
• Author short and long form investment memos recommending individual and portfolio asset purchases
• Maintain reports on loan pipeline
• Work with MIP leadership to develop new investment products

Secondary Responsibilities

• Review and monitor existing portfolio alongside the internal asset management team
• Assess loan amendment and modification requests
• Collaborate with senior leadership to maximize performance attribution and vehicle returns

Expected Experience, Skills and Education

• Bachelor’s degree
• 5+ years of healthcare and/or multifamily commercial real estate (CRE) underwriting experience
• Experience underwriting Skilled Nursing and Assisted Living loans
• Experience underwriting Affordable housing, workforce and market rate multifamily credit a plus
• Knowledge of the bridge and permanent lending space
• Knowledge of Fannie Mae, Freddie Mac and HUD lending guidelines a plus
• Detail oriented with exceptional organizational and problem-solving skills
• Strong verbal and written communication skills
• Demonstrated work ethic and ethical standards

Pay Range

The approximate total compensation pay range for New York is $150,000.00 - $200,000.00 annually. Please note that the pay range provided is a good faith estimate of total compensation for the position at the time of posting. Actual total compensation will be dependent on factors, including but not limited to, the individual’s qualifications, experience, knowledge, skills, and abilities.

Our Benefits

Merchants offers a comprehensive package of benefits for eligible employees, including, but not limited to: 401(k) employer contributions; employee stock ownership plan (ESOP); medical, dental and vision insurance; various types of leaves of absence, including paid time off, paid holidays, paid leave as provided under state and local paid leave laws, and short-term and long-term disability; health savings accounts (HSAs), flexible spending accounts (FSAs), dependent care and commuter reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; telehealth, optional ancillary insurance policies, education assistance, and an employee assistance program. Eligibility for benefits is governed by the applicable plan documents and policies.

ABOUT MERCHANTS CAPITAL

With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.