Mortgage Underwriter jobs in Colorado Springs, CO

Organization:

Impact Development Fund (IDF) is a community-based nonprofit 501c3 organization with a mission to create economic opportunity by delivering flexible capital to strengthen under-served communities in Colorado. IDF’s primary focus is on providing direct capital to support affordable housing development and preservation, non-profit community facilities, and energy efficiency upgrades to commercial real estate projects. IDF is certified by the U.S. Department of the Treasury as a Community Development Financial Institution (CDFI) and embodies the concept of public-private partnership through its investor network that includes banks, foundations, private interests, local and federal government.

To support the deployment of increased capital resources, IDF is seeking a Commercial Credit Underwriter to conduct on-balance sheet and third-party real estate development lending activity.

Responsibilities:

· Guide borrowers through the application process, including screening against impact and credit guidelines, and ensuring comprehensive credit applications are provided, on agreed-upon timelines.

· Conduct thorough financial analysis to support assessment of credit risk for new loans, modification requests and periodic loan reviews. This includes preparation of spreadsheets and cashflow models to support the analysis and credit decision for new and existing credit applications.

· Prepare detailed credit presentations including review of property, sponsor, appraisals, market studies, environmental assessments, market demographics, project financial analysis, guarantor financial analysis, etc. and make appropriate loan structure and approval recommendation.

· Present analysis and recommendations to Chief Lending Officer and contract clients, as appropriate.

· Provide technical assistance to borrowers and potential borrowers (TA areas include affordable housing financing and development, non-profit facilities, economic development, and energy efficiency lending/financing, etc.)

· Assist IDF staff and legal counsel in the preparation, negotiation, and review of loan documents.

· Work directly with third party’s including title companies, attorneys and other consultants as necessary to facilitate obtaining due diligence items and coordinating the closing of a loan.

· Aid in managing loan workouts and modifications in accordance with IDF and third-party agencies’ policies and contract requirements.

· Assist the Chief Lending Officer in implementing the IDF strategic plan, particularly in areas related to lending policies, process, and portfolio performance.

· Actively contribute to loan process improvement, with the goal of continuously improving clarity and efficiency, identify opportunities to incorporate industry-best practices and emerging approaches, draft proposed changes to process, and provide support to all team members.

· Maintain prompt and consistent communication between all parties (including broker, customer, loan officer, and loan processor) in order to communicate the status of loan analysis and any outstanding issues or concerns.

· Collaborate with asset management on portfolio-related questions and additional projects, as needed.

Marketing and Outreach:

· Prioritize relationship development with new and existing clients and borrowers to achieve individual and organizational goals in accordance with contract guidelines.

· Clearly explain IDF and partners’ lending products, processes, guidelines, and terms.

· Directly engage with prospective applicants and stakeholders to identify lending opportunities for the organization, in accordance with all third-party contract processes and preferences.

· Support the Chief Lending Officer to build and maintain pipeline to meet production goals consistent with financial objectives and deployment of program specific funding requirements.

· Aid in implementation of new contracts and programs that deliver positive net benefit to the target market and organization.

Requirements:

· Bachelor’s Degree in a relevant field of study (e.g. business, finance, real estate, urban planning) is required.

· 2 years of real estate lending or business banking as a sales officer, credit analyst, credit underwriter, or loan officer, preferably with a CDFI or similar organization with significant commercial lending experience, or equivalent.

· Prior work-related experience and knowledge of affordable housing and community development lending.

· Ability to manage relationships with borrowers and other clients using a customer-centric approach.

· Ability to conduct thorough financial, industry, management, and project analysis of credit requests.

· Solid financial skills required, including the ability to develop and interpret financial statements and forecasts.

· Proficiency in analyzing financials of for-profit development companies and non-profits, including housing authorities, particularly in assessing feasibility of real estate development projects.

· Familiarity with federal, state, and/or local government funding sources for capital and operating needs of affordable housing.

· Established track record of lending, meeting production goals, and independently leading meetings.

· Significant experience in credit analysis and preparation of credit memorandums for loan approvals.

· Ability to conduct site visits as needed.

· Formal credit training is as strong plus.

· Strong verbal, written, and interpersonal communication skills.

· Customer service and solutions-oriented business approach, with a strong track record of applying initiative and interpersonal skills to solve problems for clients.

· Organized with proven self-initiative, self-motivation, collaborative spirits, optimistic attitude and ability to work remotely.

General:

Work as “One Team” and provide backup support as needed to other area of the organization. Represent IDF in the community including building strong working relationships with community partners including partner CDFIs, non-profits, CHFA, and municipalities. All employees are responsible for customer and client inquiry routing (phone, emails, mail, deliveries, etc.).

The duties and responsibilities described herein are not a comprehensive list and additional tasks may be assigned necessitated by business demands. The Commercial Credit Underwriter will report directly to the Director of Commercial Lending.

Impact Development Fund (IDF) is an Equal Opportunity Employer. IDF does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need.

Job Type: Full-time

Pay: $80,365.00 - $87,991.00 per year

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Schedule:

• 8 hour shift
• Monday to Friday

Ability to Relocate:

• Montrose, CO: Relocate before starting work (Required)

Work Location: In person