Underwriter, CMBS

We are currently seeking an Underwriter to work with LaSalle Bank's Real Estate Capital Markets/Commercial Conduit Group, providing conduit loans from $5 million to over $100 million.? LaSalle Bank's Commercial Conduit Group provides long-term, fixed rate, non-recourse financing as a 'Top 10' securitized leader. By using a dedicated staff of exceptionally seasoned lending professionals, LaSalle delivers consistent and unsurpassed execution for its clients

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Major Responsibilities include, but are not limited to:

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Managing the underwriting of loans from the application stage through loan closing and securitization.
Serving as the primary customer contact along with originators.
May manage Junior Underwriters on larger and more complex transactions.
Working with originators in reviewing, structuring, quoting loan submission requests, including the issuance of applications.
Once approved, working with outside counsel in negotiation of loan documents.
Working closely with both origination and central analysts in the preparation of loan approval documents
Performing site inspections for all loans in their portfolio.
Preparation of sale documents for pooled loans for submittal to rating agencies and investors.
Interacting with securitization staff and external parties (B-piece buyer) in the sale of loans underwritten.
Assisting in the development of the field analysts
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The Underwriter needs to have a good grasp of the fundamentals of commercial real estate and be able to apply those to each transaction.? He/She should be able to quickly assess the functionality of an asset and its position in the market as well as be able to correctly assess the proper cash flow components of an asset.? He/She will identify potential risk areas in the loan process, anticipate issues and be proactive in solving issues throughout the transactions process.? He/She will be required to assess not only the portfolio risks and concerns regarding the asset but the risks and issues relating to the secondary market and will devise strategies and recommend solutions to properly mitigate all risks and issues.

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Requirements include:

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Minimum Bachelors Degree
Minimum 2-4 years progressively responsible real estate experience in finance, underwriting, and/or credit with a financial services company (commercial bank, investment bank, credit company, mortgage bank, etc?)
Must be able to properly evaluate and assess all aspects of a borrower?s credit.
Must be able to read and understand financial statements for both borrowers and major tenant and be able to identify cash flow concerns and weaknesses
Must have a good understanding of the loans within their portfolio and must have experience that demonstrates the ability to discuss the details of each transaction and be able to clearly and definitively defend the underwriting and the mitigated risks inherent in each deal, both internally and externally in conjunction with the securitization of the loan.
Must be well organized and have an extraordinary work ethic
Must have excellent verbal and written communication skills and the ability to work well with a wide variety of individuals
Prior CMBS experience strongly preferred.? Must have experience underwriting commercial mortgages on income producing properties.