Underwriting Analyst

Underwriting Analyst

  • Position Title: Underwriting Analyst
  • Location: Washington, DC
  • Reports To: Team Leader - Underwriting, Due Diligence, and Valuations

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Positional Summary

Join CW Capital’s growing Underwriting/Valuations team and be part of the frontline effort to provide client investors with analysis at the loan level and a thorough understanding of performance risk through the life of the investment. The Underwriting Analyst will evaluate commercial real estate mortgage loans and collateral contributed to securitized pools.

Primary Duties and Responsibilities

This position is part of a team primarily engaged in producing risk analysis deliverables, both qualitative and quantitative, for CWCAM’s third party clients. The role includes real estate underwriting credit analysis, market and submarket research, and discussions with experts in the respective markets to conclude findings and recommendations to senior management and ultimately to the client. The Analyst will have a focus on agency multifamily debt but will also include broader CMBS, whole loans, subordinate loans, and single-borrower transactions. Specific duties will include:

  • Underwriting real estate and commercial loans. Underwriting includes valuation analysis and determination using the sales comparison, income capitalization, DCF, and cost approaches, capitalization rate analysis, rent comparable studies, expense comparable analysis, neighborhood and location analysis, property manager interviews, income/expense analysis, and loan document file review.
  • Performing site inspections and market tours as needed and when circumstances permit, interacting with local market participants and on-site staff, in order to validate or challenge the projected risk profile of commercial loans.
  • Building, maintaining, and understanding models utilizing Excel and database programs to project various financial returns and property values, and to track other loan and real estate portfolio metrics.
  • Assisting in the preparation of strategic business plans for all asset types for credit committee approval, including 10-year cash flow projections and net present value calculations.
  • Working with CWCAM’s technology platform to create and prepare regular third party investment status reports and ensure timely delivery to clients.
  • Creating various ad-hoc reporting and modeling in response to circumstances and client needs.
  • Providing concise and effective presentation of the diligence conclusions to the client incorporating quantitative and qualitative data derived through the analysis.

Skills / Experience Requirements

  • Bachelor’s degree in finance, accounting, real estate or related field.
  • 1-4 years of experience underwriting commercial real estate debt investments or loan originations. Agency debt experience a plus.
  • Confidence to work on a team in a project-based environment with multiple hard deadlines.
  • Combined verbal, written, and interpersonal skills sufficient to support an opinion derived from equally strong analytical skills.
  • Ability to make cold calls when conducting market research or entering a market.
  • Advanced Microsoft Office skills, particularly Excel. SQL and Macro/VBA a plus.

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