VP, Underwriter

Merchants Bancorp • New York, NY

6d • Remote

About The Position

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

• 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

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
• 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

Benefits

• 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
• an employee assistance program

What This Job Offers

• Job Type: Full-time
• Career Level: Senior