Associate Underwriter - Advisory - Atlanta
Associate Underwriter (Agency / Multifamily) - Advisory - Atlanta
Situs is a pioneer in the CMBS industry, providing outsourced commercial real estate collateral evaluation, due diligence and underwriting services. Through our in-depth understanding of loan origination, credit risk analysis, and the securitization process, we have become the preeminent advisor for the commercial real estate finance industry; providing clients’ the ability to strategically leverage a diverse platform of real estate and capital markets professionals.
Our professional team can be deployed as a variable staffing strategy to manage a specific transaction or other project requirements. We have specialized practice teams for most property types, and have transactional experience across North America and Europe.
The Associate, Due Diligence & Underwriting for the Agency Team, will provide support in delivering real estate analysis, CMBS and other commercial real estate loan underwriting and debt consulting services. This role manages multiple transactions with multiple clients under tight timelines and will have a specific focus on Agency and Multifamily.
- Provide analytical support in the underwriting and closing of commercial real estate loans on behalf of our clients
- Exercise full working knowledge of Freddie Mac and Fannie Mae loan policies and procedures.
- Review, analyze and/or interpret financial operating statements, rent rolls, third party reports, tenant lease agreements, surveys, title reports, zoning reports, property insurance policies, credit reports, and other underwriting due diligence requirements
- Perform site inspections, determine appropriate market comparables for property valuation and asset summary report, and complete tenant analyses
- Assist with loan closings and procure needed closing items
- Research, analyze and summarize tenant level information including financial trends and credit ratings or stock market capitalization
- Conduct telephone interviews to solicit market data with brokers, appraisers, investors and other market participants
- Research, analyze and summarize market and submarket information including inventory, absorption, new/proposed development, and rent and vacancy trends
- Extract pertinent data from appraisal, and engineering reports
- Write property, market and borrower/sponsor descriptions as well as third party report summaries
- Build relationships with clients when appropriate as it relates to conference calls, face-to-face meetings, and written correspondence
- Assist in developing value conclusions for all property types
Skills & Experience
- Minimum 3-5 years’ experience in real estate valuation, loan credit administration, appraisal, or banking primarily focused on commercial properties
- Minimum 3-5 years’ experience underwriting CMBS or CRE balance sheet loans is strongly preferred
- Previous experience with Freddie Mac / Fannie Mae strongly preferred
- Comprehensive knowledge and understanding of commercial real estate, due diligence process, commercial lending policies, and credit and risk management policies
- Full understanding of property sectors (office, retail, industrial, hotel, multifamily) and their different investment characteristics and an ability to see the "big picture" in commercial real estate and capital markets finance transactions
- Proficient in Argus
- Excellent Excel and cash flow modeling skills
- Strong business writing skills
- Bachelor’s degree
- Preferred fields of study include Accounting, Finance, Real Estate, Business
Since 1985, Situs has been the premier, global provider of end-to-end commercial real estate and loan advisory services and integrated solutions, offering customized services to leading financial institutions, investors, owners, and developers. We offer a wide array of services, including enterprise and process improvement, capital markets and commercial real estate advisory, primary and special servicing, and creative staffing solutions.
Situs has been selected as Advisor of the Year at the Real Estate Finance and Investment Financing Awards 2015 and 2016.
We are an equal opportunity employer (m/f/d/v).
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