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Construction Loan Underwriter

Company: Fremont Bank
Location: Livermore
Posted on: June 25, 2022

Job Description:

Fremont Bank founded in 1964, is one of the oldest independently owned banks in the Bay Area and is one of the top rated mid-tier banks in the nation. Voted a Top Workplace for 2021 and for the past eleven consecutive years, Fremont Bank has an immediate opening for a Construction Loan Underwriter in Livermore, CA.Position OverviewThe Construction Loan Underwriter evaluates and underwrites new construction loans, and extension requests for the existing loan portfolio. Works with Commercial Relationship Managers (CRMs) to complete an initial project analysis, loan sources and uses, and assists in overall structuring of construction loans. Collects, reviews and analyzes financial data including borrowers' tax returns and financial statements, as well as data supporting a given construction project. Prepares quality narrative presentations within the Bank's loan underwriting system and presents it to management and loan committees. Visits construction sites, documents on-going project progress, and reviews construction draws as needed.Role And Responsibilities

  • Screen all new loan requests regarding structure, purpose and source of repayment before submitting for further approval and processing
  • Manage loan pipelines for loans in process and maturing construction loans; prioritize transactions and keep the pipeline accurate and current
  • Perform spreadsheet and narrative credit analysis on construction projects
  • Analyze and spread borrower credit, including credit report, personal, and business financial statements, personal and business tax returns, schedule of real estate owned, property rent rolls, leases, and operating statements
  • Review borrower organizational documents and accurately present the borrower structure along with Guarantors in the Narrative
  • Review and understand preliminary title reports
  • Prepare and recommend Loan Credit Memorandums; identify and summarize all file conditions on the Loan Credit Memorandum in order to ensure smooth documentation and closing
  • Work with the loan processor to review outstanding conditions through the loan closing process
  • Coordinate with the Loan Documentation group to ensure prompt documentation and funding
  • Review construction loan documentation
  • Assist in portfolio management functions such as risk rating assessments, loan servicing requests, and special asset transfers
  • Provide training to processors and commercial credit analysts as needed
  • Manage and review workflow to ensure the department's SLA are achieved and credit policy and guidelines are adhered to for all credits
  • Address/resolve exception items noted from Loan Review/Audit Department
  • Continually do process improvement assessment and implement revisions to the process as necessary
  • Communicate with appropriate Director(s) and/or Executive Management on recommendations for improving efficiency, productivity and quality of output Minimum Qualifications
    • Bachelor's degree, preferably in Business/Finance/Accounting
    • 2 years related experience in Construction and Commercial Real Estate Underwriting required
    • Demonstrated understanding of Basic Accounting and Financial Statements, understanding of Global Cash Flow, and experience with spreading software
    • Ability to promote a team atmosphere between underwriting staff and sales staff
    • Strong communication skills (verbal and written) and professional business etiquette
    • Ability to work in a fast-paced environment while delivering accurate and quality work product
    • Excellent organizational skills
    • Proficiency in Microsoft software
    • Knowledge of Bay Area real estate market preferred Job Location: Livermore, CA

Keywords: Fremont Bank, Livermore , Construction Loan Underwriter, Professions , Livermore, California

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