Director, Commercial Real Estate Loan Underwriting
About The Position
SitusAMC is seeking a Director for its client, a multi-$billion-dollar financial services institution (the “Bank”). This role supports the origination, underwriting, closing, and execution of commercial real estate loans for the Bank’s CMBS and balance sheet programs. The loans are primarily $10-200M, 5 and 10-yr fixed rate loans on stabilized, cash flowing properties in diverse asset classes across the US. The ideal candidate will be a fully autonomous deal lead, responsible for driving transactions from initial screening through closing and securitization. The role requires strong independent credit judgment, proactive risk identification and mitigation, and confidence in influencing loan structuring decisions. The Director will coordinate across origination, capital markets, legal, and third-party providers, maintaining accountability for execution timelines and deal quality. This position is best suited for candidates with demonstrated experience owning complex CRE transactions end-to-end and operating effectively in high-stakes environments.
Requirements
- BA/BS, ideally in commercial real estate finance, finance or similar
- At least 7 years’ experience underwriting commercial real estate loans at a bank, insurance company, debt fund, investment management company or similar; specific focus on CMBS is ideal
- Demonstrated experience independently leading CRE loan transactions from origination through closing (not solely supporting roles)
- Proven ability to exercise independent credit judgment and make recommendations in situations with incomplete or evolving information
- Experience structuring CRE loans, including familiarity with risk mitigation tools (e.g. – reserves, covenants, cash management, other credit enhancements, etc.)
- Strong work ethic with a solutions-driven approach to working through issues or challenges
- Excellent communication, organizational and interpersonal skills
- Desire to work among a diverse team and be a supportive and collaborative colleague
- Ability to multi-task and work effectively under tight deadlines
- Strong organizational and execution skills, with the ability to manage multiple tasks and transactions concurrently while maintaining deadlines and attention to detail
- Strong attention to detail, analytical and accuracy skills
Responsibilities
- Serve as the primary underwriting lead with end-to-end ownership of transactions, ensuring timely execution, sound credit outcomes, and alignment across all stakeholders
- Underwrite and close commercial real estate loans for multiple borrowers and different asset types
- Participate in initial loan sizing, collaborating with origination and capital markets
- Lead preparation and defense of credit memos, clearly articulating key risks, mitigants, and structuring rationale for committee, including cash flow analysis, risks and strengths, borrower / sponsor review, and market analyses
- Act as the central point of coordination across internal teams and external counterparties, proactively resolving issues and maintaining deal momentum
- Conduct property-level diligence and market analysis with an emphasis on forming independent, defensible views rather than relying solely on third-party inputs
- Complete site inspections and detailed local analysis, including broker interviews and discussions with property management
- Analyze detailed property financial information
- Create and/or review existing Argus cash flow models; edit assumptions based on actual market data collections and financial review information
- Ability to review third party reports (appraisal, engineering, environmental, etc.), and identify key issues that warrant further investigation and/or revision
- Collaborate with appraisal review group to discuss specific appraisal methodology and ensure that the assumptions used in the appraisal are well-supported and are consistent with the actual terms at the Property and/or market
- Assess borrower’s credit worthiness by reviewing financial statements, credit reports, and media searches
- Ability to evaluate major/single tenant performance or financial condition
- Independently identify credit risks and confidently propose actionable solutions, including structural and other credit enhancement features to adequately address risks
- Lead presentations and discussions with syndication partners, investors and rating agencies regarding any concerns related to loan structure, sponsorship, legal, property, market, and underwriting
Benefits
- PTO and paid holidays
- medical, dental, vision, life, disability insurance and 401K
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What This Job Offers
Job Type
Full-time
Career Level
Director
