Loan Underwriter

Commercial Real Estate Loan Underwriter

Hartford Community Loan Fund (HCLF) is a not-for-profit community development financial institution (CDFI) with a mission to advance equity by strategically leveraging our capital and industry expertise to facilitate long-term neighborhood stability and increase the number of safe, affordable housing units statewide. HCLF has provided more than $25 million in loan capital to rehab over 500 units of affordable housing in the City of Hartford and surrounding towns. HCLF is looking to expand its capacity to have a much stronger impact on underserved communities statewide.

We are currently looking to fill the role of Loan Underwriter. This position reports to the Director of Lending. The Loan Underwriter is responsible for analyzing and underwriting commercial real estate loan transactions, with a primary focus on acquisition, rehabilitation, and construction financing for residential and mixed-use properties. This role is primarily focused on credit analysis, transaction execution, financial modeling specific to commercial real estate investment, risk assessment, and preparation of loan memoranda for internal approval. The Underwriter will work closely with the Director of Lending and other team members to evaluate transactions and support all aspects of the lending process.

Core Responsibilities Include:

• Analyze real estate transactions, including operating projections, development budgets, and market assumptions;
• Evaluate the financial strength, credit history, and experience of the applicant / guarantor;
• Build and maintain real estate cash flow models and sensitivity analyses;
• Assess project feasibility and identify key risks;
• Prepare detailed loan memoranda and supporting materials for internal approval;
• Assist in assembling complete loan application packages in coordination with the Lending Team;
• Support the loan closing process as needed;
• Assist with the analysis of loan modifications;
• Ensure successful underwriting quality assurance and adherence to all lending, CDFI, state, and federal compliance guidelines;
• Contribute to continuous improvement of HCLF’s underwriting processes and lending team goals.

Skills and Experience:

• Bachelor’s degree required;
• 3–5 years’ experience in commercial real estate underwriting and credit analysis;
• Strong understanding of real estate finance fundamentals;
• Proficiency in Excel and advanced proficiency in financial modeling specific to commercial real estate;
• Strong written and verbal communication skills, including the ability to draft clear and concise credit memoranda;
• Ability to present analyses and recommendations effectively;
• Attention to detail and a diligent, thoughtful approach to credit evaluation; and
• Ability to work independently and as part of a small, collaborative team;

The following experience, in addition to the skills and experience listed above, is highly preferred and will be considered a plus:

• • Experience with construction and / or rehabilitation lending, including familiarity with construction budgets and construction draw processes;
  • Exposure to affordable housing, public subsidies, or community development finance; and/or
  • Experience in banking, CDFI lending operations, real estate development, or related fields.

Compensation and Benefits:

• Fixed salary range expected to be $75,000 to $85,000; and
• Eligible for incentive compensation.

• Please note:

A brief underwriting exercise will be administered as a part of the hiring process.

HCLF also offers a benefits package which includes medical/dental coverage, disability and life insurance, and an employer-matched retirement plan.

HCLF is an equal opportunity provider and employer. HCLF does not discriminate in hiring or employment practices based on race, ethnicity, gender identification, national origin, age, religion, sexual orientation, disability, marital or familial status, ancestry, or status as a veteran. HCLF values and is committed to maintaining a multicultural work environment.

Interested and qualified candidates should submit a resume and cover letter via email to:

Jessica Gill

Office Manager

j.gill@hartfordlaons.gov

HCLF also offers a benefits package which includes medical/dental coverage, disability and life insurance, and an employer-matched retirement plan.

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