Job Description
Construction Underwriter at Archwest Capital Construction Underwriter at Archwest Capital in Aliso Viejo, California Posted in 3 days ago.
Type:
full-time Job Description:
Position Summary:
Under the direction of the SVP, Director of Construction, the Construction Underwriter will coordinate with Loan Officer(s), Loan Processor(s), Asset Underwriter(s), Risk, and Legal departments to ensure a complete construction file has been received to proceed with the underwriting of the collateral portion of the file, and to ensure post-closing fund control is a smooth process for borrowers. The Construction Underwriter will present the underwriting findings to Management to proceed with loan decision. Essential Functions Analyze construction project feasibility, working closely with the lending team to review budgets, schedules, market data, and the borrower's ability to complete the project to structure and approve loans Evaluate contractor qualifications, construction contracts, and project team experience Determine the proper Title Endorsements required depending on the property location and loan characteristics, i.e., survey, lien priority, or municipal or state laws and requirements Review documents for accuracy and discrepancies, including contracts, addendums, assignments, plans, permits, etc. Review final loan structure reflected on loan page to ensure it matches intended structure from lending team Understand how to calculate and review loan metrics within guidelines Review plans, permits, rehab budget, and reconciliation of costs spent to date Review appraisal (1004, 1025, Land, Commercial, or desk review) for completeness and conformity with USPAP and FIRREA guidelines Review values and determine if sufficient to move forward with initial structuring and loan approval Review special conditions required prior to docs or prior to funding Ensure compliance with loan policies and guidelines Review third party reports (appraisals, environmental feasibility, and inspection reports) Identify and mitigate risk related to zoning, permits, market conditions, and construction complexity Prepare underwriting documentation, including risk assessments and recommendations for approval or denial Provide personalized client service to meet borrower needs Escalate issues as needed for review and second approval Update internal management tracking system daily Determine Prior to Doc, Prior to Funding, and Post Close conditions Competencies/Skills Self-motivated with strong desire to succeed Strong attention to detail with the ability to stay organized and problem-solve in a fast-paced environment Ability to articulate issues, problem-solve and analyze with creative and out-of-the-box thinking Strong communication skills (written and verbal) with internal and external partners; ability to convey findings in a concise and comprehensive manner Effective organization and time management skills Capability to build trusting relationships internally and externally and elicit confidence by demonstrating reliability Strong team player with the ability to work effectively in a cooperative and diverse environment Capacity to analyze processes, support change and think operationally and strategically to achieve business goals Advanced use of Microsoft Office Suite Detail oriented and organized with ability to multi-task Ability to think subjectively and determine a logical solution Adapts to change easily in a fast-working environment Follows direction easily Education and Experience High school diploma or equivalent, required Bachelor's degree, preferred Minimum 4+ years construction loan underwriting or related experience, or on-site construction experience, General Contractor, or Engineering background Private money and construction lending experience a plus Residential Project Management experience a plus Solid understanding of the construction process and project cadence from entitlements to completion Proficient in MS Word and Excel Strong interpersonal and communication skills with exceptional follow-through abilities Excellent verbal and written communication skills Accessibility:
At Archwest, we will make reasonable accommodation to enable individuals with disabilities to perform essential functions. Please just let us know by contacting us at dyanna@archwc.com
