Summary: This is an intermediate, client facing position designed to work closely within the Origination group in vetting opportunities by completing preliminary underwriting and determining the best use of company lending platforms. The Transaction Manager will be responsible for efficiently moving loan transactions from preliminary underwriting through closing as well as streamlining the client interaction process by minimizing client touch points and providing excellent customer service through accurate and timely communication. The Transaction Manager is an individual contributor role with limited and generally supervised customer contact.
Expected Outcomes: A successful Transaction Manager will perform accurate initial underwriting and loan sizing analyses that properly capitalize on a project’s financial strengths and mitigate weaknesses. Success will be marked by timely work and deadline adherence. Transaction Managers who can work independently as well as part of the Origination and Underwriting teams and are able to learn from each experience will recognize excellent growth paths toward other positions in the organization. A successful Transaction Manager will possess technical understanding of the multifamily loan process and an experienced understanding of multifamily loan underwriting.
Essential Duties and Responsibilities:
Perform preliminary underwriting to accurately size lending transactions by working with HUD, GSE, and MBI credit teams.
Analyze financial statements and reports related to the transaction, such as historical & pro forma property operating statements, rent rolls, sources and uses, real estate owned schedules, appraisals, and project capital needs assessments.
Assist Loan Originator in streamlining communication for accurate and timely client interaction.
Oversee loans from Application through Closing.
Support and Assist Originators throughout transaction process.
Develop client relationships. Prepare term sheets for review and approval by MBI along with assisting in preparation of HUD & GSE engagement Letters.
Composition and analysis of HUD Concept Packages, GSE Soft Quotes, & GSE Pre-Screens.
Review 3rd party reports and communicate any issues.
Lead due diligence process with clients and internal company processors.
Continuing education on MBI, HUD, RD, FHLMC & FNMA program developments, loan policies, and guidelines.
Attend training on applicable subjects when available and appropriate for position.
Other duties as assigned.
Requires a bachelor’s degree from an accredited institution, preferably with a focus in finance or commercial real estate.
Requires 2-4 years of multifamily credit analysis experience; multifamily affordable housing experience preferred.
Requires proficiency with Microsoft Office, with emphasis on Excel and Word.
Must demonstrate excellent communication, analytical, interpersonal, and organizational skills.
Must be self-sufficient with project/timeline management skills; accuracy and attention to details; and the ability to adapt in an entrepreneurial business environment.
Must be able to work well under pressure and have the ability to prioritize work to meet deadlines in a fast-paced environment.
Requires occasional travel for property inspections, loan closings, training opportunities and transaction meetings. 10% travel overnight – typically 1-2 nights.
Knowledge of multifamily real estate and affordable housing development.
All employees are expected to contribute to the overall success of the organization by performing requested duties regardless of explicit inclusion in the job description or reasonable relation to an employee’s primary role. Additionally, all employees must understand and adhere to all federal and state laws and banking regulations and company policies and procedures applicable to assigned job responsibilities, including compliance as appropriate under the Bank Secrecy Act and Anti-Money Laundering regulations.
Additionally, all employees are expected to demonstrate the following Core Competencies:
Professionalism – acting with responsibility, integrity and accountability; demonstrating consistent trustworthiness and reliability; always remaining flexible, adaptable and willing to accept coaching; building and managing professionally healthy relationships; deliberately managing career decisions; and continually developing awareness of business-related topics.
Communication – understanding various active and passive tools and styles and their effects; and exhibiting appropriate, effective, timely use of tools and styles to connect, collaborate, facilitate teamwork and serve customers.
Work Quality – demonstrating an ongoing commitment to compliance, safety and security; executing work with efficiency, a sense of urgency and attention to detail; and displaying organized work practices and a results-oriented mindset.
Analytical Ability – navigating work-related circumstances with practical, sound reasoning; and demonstrating creativity in problem solving.
Leadership – displaying good judgment and certainty in decision making; taking initiative with job-related demands; demonstrating innovative thinking and sound planning with business practices; managing individual performance toward shared organizational goals; and thinking strategically to set and accomplish goals.
Merchants Bancorp and its affiliates and subsidiaries are committed to being equal opportunity employers. All job candidates and incumbents will be assessed based on only criteria relevant to successfully performing the job as defined in this job description and as generally accepted in the job’s relevant industries.
About Merchants Capital
Merchants Capital, formerly PR Mortgage & Investments, was established in August of 1990 as a mortgage banking firm specializing in multifamily housing and health care facilities finance. With extensive experience in these types of finance, the company is a premier provider and servicer of Multifamily, Affordable, Healthcare, and Student Housing. Our mission is simple: to provide the best origination and service of our loan and investment products with exceptional customer service, accuracy, creativity, speed, and conformance to regulations.