Multi Family Investment Loan Associate Underwriter

At Acra Lending our employees enjoy an opportunity to work with great people.  We celebrate several events throughout the year accompanied by raffles and giveaways for employees nationwide.  We are especially proud to give back to our community and truly enjoy one another's company.

We are looking for candidates to join our team who are passionate about their vocation. Who are committed to making a contribution and are looking to gain experience in order to grow in their career. Our headquarters are located on a beautiful campus in Irvine, California and if you work out of our Irvine office we can also provide a free gym membership. 

We are currently searching for a Multi Family Investment Loan Associate Underwriter Role. This role will be working in the Investment Loan Division of Acra Lending as an underwriter. The MF ILA will be responsible for mitigating risk while assessing the overall lendable-worthiness of the borrower. These responsibilities will be carried out by conducting complex underwriting which assess asset profitability/sustainability. Prepare detailed credit summary of commercial multi-family applicants requesting credit by analyzing the business, interpreting the finance need, identifying the strengths and prevailing risk factors and render a final credit decision.

Pay Range: $95,000 - $115,000

Essential Duties and Responsibilities

• Review and analyze complex loan scenarios to determine the feasibility of the transaction
• Identify risks and be able to summarize ways to mitigant outlined risk
• Ability to access credit worthiness, income flow analysis, rent roll analysis and determine decisioning on whether the client should receive a loan approval
• Analyzes operating performance and proactively identifies any issues
• Ability to review environmental and feasibility reports
• Manage portfolio of new loans submissions and make recommendations that lead to an approval or discuss reasons for rejection with the Director of Credit
• Address file escalations from other departments
• Review and clear underwriting conditions and underwrite new loans when workload dictates
• Identify potential pipeline, underwriting, operating system concerns to UW Management

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Ability to articulate issues and create possible solutions while under pressure
• Ability to solve problems and reasonable question while aligning to the ILD risk guidelines
• Expertise in state and federal lending regulations
• Knowledge of leverage ratios such as LTV, As Is, LTC while understanding their interactions with DSCR, ROI, and NOI
• Effective communication skills, including speaking and writing with external/internal customers
• Time management, prioritization skills, decision-making and critical thinking skills
• Ability to work in a collaborative team environment

Education and/or Experience   

• 5+ years of recent Underwriting experience
• Experience underwriting Non-QM and “Alt-A” paper mortgage loans required
• Experience working in the lending capacity within a private fund, private money, investment brokerage, and a conforming role

Language Skills

Ability to read and comprehend simple instructions, short correspondence, and memos.  Ability to write simple correspondence.  Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization.

Mathematical Skills  

Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.  Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.

Reasoning Ability

Ability to apply common sense understanding to carry out detailed instructions.  Ability to deal with problems involving a few concrete variables in standardized situations.

Computer Skills

Advanced knowledge of Microsoft Office applications (Word, Excel, Outlook, etc).

Benefits

Our benefit offerings include: Medical, dental, vision, wellness programs, EAP counseling services, FSA & HSA, company sponsored life insurance for employee, voluntary life insurance for employee, spouse and child, AD&D Insurance, voluntary short-term and long-term disability, critical illness insurance, accident insurance, legal assistance, pet insurance, living will and trust preparation discounts, commuter program, annual walking challenge, employee appreciation events and monthly sales awards.