CDB Underwriter III (Community Development Banking) Job in New York, New York US
CDB Underwriter III (Community Development Banking)
CDB Underwriter III- New York An Underwriter III in CDB Real Estate's Northeast Underwriting Team has an integral role in the bank's Community Reinvestment Act ("CRA") mission and providing housing opportunities to low- and moderate-income level families. The CDB Real Estate business primarily involves the financing of construction of rental and for sale housing for low- and moderate-income families. Clients include both for-profit real estate developers and not-for-profit entities. An Underwater III has multiple responsibilities, which include (i) preparation and presentation of credit approval packages, (ii) account management, and (iii) portfolio management. In preparation of credit approval packages, an Underwriter III reviews cash flow forecasts, project budgets, financial statements of prospective project sponsors and guarantors, and third party reports (appraisal/marketing studies, environmental reports, and PNA/construction reviews). The Underwriter III is then challenged to identify the key credit risks in a transaction and clearly communicate them in a clear and succinct summary memo. In Account management, Underwriters work as a team with CDB Bankers to attend pre-closing conference calls with clients and attorneys, loan documentation negotiation and review to coordinate loan closings, and post-closing follow-up with internal business partners. Additionally, underwriters prepare and present extensions and modifications of existing credit facilities. In portfolio management, Underwriters report to management on projects under construction. Reports include: annual client reviews, quarterly facility reviews, and reports on adversely classified loans. Annual client reviews are a comprehensive analysis of the project sponsor, current financial condition, exposure summary, projects in portfolio, and the internal risk ratings. Quarterly facility reviews and reports on adversely classified loans include a summary of transaction, discussion of issues, strategy of management, and internal risk grade. Underwriters also police delinquencies and loan maturities and track covenant compliance.