Senior Underwriter - Capital Impact Partners : Job Details

About the Organization

The Momentus Capital branded family of organizations - which includes Capital Impact Partners, CDC Small Business Finance, Ventures Lending Technologies, and Momentus Securities - is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems that have failed to address systemic issues of inequality, economic empowerment, and the widening racial wealth gap by offering a continuum of financial, knowledge, and social capital to help local leaders build inclusive and equitable communities and create generational wealth. This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology services that advance locally-led solutions. Our suite of products and services, experience, and scope will foster equitable job creation, wealth building, and economic mobility.

Position Summary:

The Senior Commercial Underwriter is responsible for conducting due diligence and underwriting for loans and New Market Tax Credit (NMTC) transactions to finance the development of affordable housing, charter schools, health centers, grocery stores, cooperatives, and other community facilities. The Underwriter works closely with Regional Directors, Market Managers, Business Development Officers, Loan Officers, and Credit Officers to obtain credit approval for new loans and NMTC transactions and also to screen financing opportunities for term sheet offers. As part of the Community Development Lending (CDL) team, the Senior Commercial Underwriter supports the achievement of regional and overall Credit and Lending work plan goals.

Reporting Relationships:

The Senior Commercial Underwriter reports to the Director of National Underwriting but will work closely with Loan Originations and Credit personnel to underwrite transactions throughout the US to help meet Momentus' lending goals. The Senior Commercial Underwriter will communicate with internal stakeholders, borrowers, third party lenders, attorneys and other external parties, as appropriate.

Requirements

Essential Responsibilities

● Underwriting: The Senior Commercial Underwriter will use the application package and third-party reports to underwrite the financing request. Underwriting will include analysis of: historical financials, financial projections, construction budgets, repayment sources, market and regulatory conditions, industry reports such as CoStar and LoopNet, appraisals, entitlement/land use assessments, environmental reports, plan and cost reviews, property conditions reports, requirements related to other capital sources and subsidies, borrower and guarantor tax returns and business & personal financial statements, management and leadership of sponsor, commercial tenant leases, and other analysis as appropriate to assess credit risk on a given transaction. The Senior Commercial Underwriter will compare the loan request to Momentus' standard product and credit requirements to ensure conformance or identify exceptions. The Senior Commercial Underwriter may also support Loan Officers in assessing eligibility of the credit for special funding programs and in preparing initial screening memos.

● Credit Approval: The Senior Commercial Underwriter will assist the Regional Directors, Market Managers, Business Development Officers, Loan Officers, and Credit Officers in preparing written loan approval requests for presentation to the assigned Approvers and/or Credit Committee for final approval. They will prepare the loan approval package and work closely with Loan Officers to present the credit approval requests and recommendations.

● Due Diligence: The Senior Commercial Underwriter will manage the collection of the loan application materials from the borrower and together with the Closing Team, coordinate third-party due diligence reports (e.g., appraisal, plan and cost review, etc.).

● Site Visits and Conferences: The Senior Commercial Underwriter may conduct a site visit alongside other team members as part of underwriting each transaction and will attend or lead customer calls as needed to support Regional Directors, Market Managers, Business Development Officers, and Loan Officers.

● Closing: The Senior Commercial Underwriter will work closely with the Closing and Legal teams as well as the Head of Credit to ensure that the loan closes in accordance with the approved terms and conditions, review loan documentation and due diligence items submitted during the closing process, and document minor or material changes to the loan approval, if necessary.

● Customer Service & Relationship Management: The Senior Commercial Underwriter will practice a client-service mindset to maintain a positive and professional relationship with Momentus customers and business partners (which include third party lenders, attorneys and other external parties such as appraisers) by both initiating and responding promptly to any and all requests in a responsive, consistent, and accurate manner. The Senior Commercial Underwriter may at times be the primary point of contact for the Borrower during the underwriting process.

● Pipeline Management: The Senior Commercial Underwriter will screen deals from time to time, input prospective new transactions details into the transaction database and/or Customer Relationship Management system and assist the department with reporting and management of the regional pipelines.

● Template, Guideline, & Resource Development: The Senior Commercial Underwriter will also assist the Head of Credit and the Director of Underwriting in the development of standardized underwriting guidelines, templates, as well as standardized underwriting resources, for use across the Lending department. The Senior Commercial Underwriter may also coordinate or lead internal training on various credit topics.

Professional Skills, Education and Experience

The ideal candidate for this position will have these key qualifications:

● A degree in finance, real estate, urban planning, public policy, business administration, or a related field is preferred. However, education and experience are considered holistically.

● At least 3-5 years of experience in real estate-based lending, including borrower contact, credit analysis, due diligence and loan documentation; Real estate lending experience should include predevelopment, acquisition, construction, and/or permanent lending

● Expertise in analyzing financial statements and tax returns of both nonprofit and for-profit organizations, especially affordable housing developers and community facilities such as health care clinics and charter schools, and individuals, including their operating cash flow and their real estate operations.

● Previous experience working in a CDFI or community based organizations preferred

● Experience with federal, state, and local government funding sources for capital and operating needs of affordable housing and mixed-use developments / community health centers, charter schools, and other community-based organizations.

● Experience working with multiple internal and external stakeholders including participating lenders, borrowers, legal counsel, loan officers, loan closers, and portfolio/asset management.

● Working experience with both private sector financial institutions and public agencies;

● Proficiency with the design, permitting, and construction process for developing real property.

● Familiarity with business law concepts including contracts, loan collateral, uniform commercial code, creditors' rights, forms of business organization, and sufficient knowledge to review and negotiate loan documents.

● Proficiency with Microsoft Office Suite Programs, and other database software.

● Experience working with New Market Tax Credits and Low Income Housing Tax Credits

● Excellent writing and communication skills.

● Ability to adapt to change and implementation of new products, programs, and technology platforms.

● Salesforce or other CRM experience desired.

● Experience with financial spreading software.

● Excellent project management skills and ability to manage multiple tasks.

● Strong attention to detail.

Benefits

The salary range for this position is $106,559 - $135,000 and is eligible for an annual incentive.

This role is remote.

All employees must be legally authorized to work in the United States. The Company will not sponsor applicants for work visas.

EEO: Momentus Capital is an equal opportunity employer committed to a diverse workforce; and, as such, is fully committed to providing employment for qualified individuals, free from discrimination on the basis of race, color, religion, sex, age, sexual orientation, gender identity, national origin, disability, marital status, pregnancy, childbirth or related medical conditions, or any other protected characteristic established by applicable law.