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Cmbs Underwriter Jobs (NOW HIRING)

PIMCO

CMBS/CRE Portfolio Manager

Newport Beach, CA · On-site

The candidate will assist the team in underwriting and making investment decisions in CMBS and other real estate-related assets for various PIMCO funds. The candidate will assist in the evaluation of ...

Bellwether

Senior Associate, CMBS Debt

El Segundo, CA · On-site

Lead periodic re-underwriting and reforecasting of collateral and bond cash flows, incorporating ... Work experience with CMBS asset management, credit surveillance, CMBS originations, and/or rating ...

Bellwether

Senior Associate, CMBS Debt

El Segundo, CA · On-site

Lead periodic re-underwriting and reforecasting of collateral and bond cash flows, incorporating ... Work experience with CMBS asset management, credit surveillance, CMBS originations, and/or rating ...

PIMCO

CMBS/CRE Portfolio Manager

Newport Beach, CA · Hybrid

The candidate will assist the team in underwriting and making investment decisions in CMBS and other real estate-related assets for various PIMCO funds. The candidate will assist in the evaluation of ...

DOUBLELINE GROUP LP

Analyst - CMBS/CRE

Los Angeles, CA · On-site

$125K - $175K/yr

DoubleLine is seeking a highly energetic and motivated analyst to join the CMBS/CRE team. The ... Underwrite CRE debt investments across senior mortgage, mezzanine and preferred equity * Evaluate ...

Blue Owl

Real Assets, CMBS Associate

New York, NY · On-site

Partner with senior team members to source, underwrite, structure, and execute new investments across the capital structure, with an emphasis on CMBS and other securitized CRE credit, with a primary ...

Blue Owl

Real Assets, CMBS Associate

New York, NY · On-site

Partner with senior team members to source, underwrite, structure, and execute new investments across the capital structure, with an emphasis on CMBS and other securitized CRE credit, with a primary ...

DOUBLELINE GROUP LP

Analyst - CMBS/CRE

Los Angeles, CA

$125K - $175K/yr

DoubleLine is seeking a highly energetic and motivated analyst to join the CMBS/CRE team. The ... Underwrite CRE debt investments across senior mortgage, mezzanine and preferred equity * Evaluate ...

Blue Owl

Real Assets, CMBS Associate

New York, NY · On-site

Partner with senior team members to source, underwrite, structure, and execute new investments across the capital structure, with an emphasis on CMBS and other securitized CRE credit, with a primary ...

Blue Owl

Real Assets, CMBS Associate

New York, NY · On-site

Partner with senior team members to source, underwrite, structure, and execute new investments across the capital structure, with an emphasis on CMBS and other securitized CRE credit, with a primary ...

Brio Real Estate

Associate, CRE/CMBS

Atlanta, GA

Underwrite and perform credit analysis on loan collateral across all major property types within CMBS securitizations (e.g., SASB, Agency, Conduit, CRE CLO) for both new issue and seasoned ...

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Cmbs Underwriter information

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$78.9K

$139.5K

How much do cmbs underwriter jobs pay per year?

As of Jun 13, 2026, the average yearly pay for cmbs underwriter in the United States is $78,878.00, according to ZipRecruiter salary data. Most workers in this role earn between $61,000.00 and $87,000.00 per year, depending on experience, location, and employer.

What is the difference between Cmbs Underwriter vs Commercial Real Estate Loan Analyst?

AspectCmbs UnderwriterCommercial Real Estate Loan Analyst
Required CredentialsTypically requires a finance, real estate, or related degree; certifications like CCIM or CFA are a plusSimilar educational background; often seeks finance or real estate degrees, with some certifications beneficial
Work EnvironmentWorks primarily in financial institutions, focusing on commercial mortgage-backed securitiesWorks in banks, lending firms, or real estate companies analyzing loan portfolios
Employer & Industry UsageUsed mainly in mortgage banking, investment firms, and real estate financeCommon in commercial banks, lending institutions, and real estate investment firms

The main difference is that Cmbs Underwriters focus on assessing and underwriting commercial mortgage-backed securities, while Commercial Real Estate Loan Analysts evaluate individual commercial real estate loans. Both roles require similar credentials and work in related environments, but their primary responsibilities and focus areas differ.

What is a CMBS underwriter?

A CMBS underwriter is a financial professional who evaluates and assesses commercial mortgage-backed securities (CMBS) for risk, value, and investment potential. They analyze commercial real estate loans, property financials, borrower profiles, and market conditions to determine whether the loans should be included in a CMBS transaction. Their work helps ensure that the securities meet guidelines and provide investors with a clear understanding of potential risks and returns. CMBS underwriters play a critical role in the securitization process and the overall health of the commercial real estate finance market.

What are some typical challenges faced by CMBS Underwriters, and how can candidates prepare for them?

CMBS Underwriters often encounter challenges such as evaluating complex commercial real estate deals, managing tight deadlines, and staying updated on ever-changing market trends and regulations. Candidates can prepare by honing their financial modeling skills, staying current with industry news, and developing a strong attention to detail. Collaborating effectively with origination, legal, and risk teams is also essential, as CMBS underwriting is highly cross-functional and requires clear communication to ensure accurate loan assessments.

What are the key skills and qualifications needed to thrive as a CMBS Underwriter, and why are they important?

To thrive as a CMBS Underwriter, you need a strong grasp of commercial real estate finance, credit analysis, and risk assessment, typically supported by a degree in finance, real estate, or a related field. Familiarity with financial modeling software, ARGUS, and knowledge of securitization processes and industry regulations are essential. Analytical thinking, attention to detail, and effective communication are crucial soft skills for preparing reports and collaborating with stakeholders. These skills ensure accurate loan evaluations and contribute to the successful structuring and management of commercial mortgage-backed securities.
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What job categories do people searching Cmbs Underwriter jobs look for? The top searched job categories for Cmbs Underwriter jobs are:
Cmbs Underwriter jobs near you
Vice President - CRE Underwriter

Vice President - CRE Underwriter

Deutsche Bank

New York, NY • On-site

$170K - $200K/yr

Full-time

Posted yesterday

Deutsche Bank rating

7.7

Company rating: 7.7 out of 10

Based on 14 frontline employees who took The Breakroom Quiz

73rd of 141 rated banks

Job description

Job Description:
Job Title Vice President - CRE Underwriter
Corporate Title Vice President
Location New York, NY
Overview
We are looking for a Vice President to join the Deutsche Bank CRE Underwriting team to support the DB CRE platform in screening, sizing, structuring, underwriting and documentation of potential CMBS Conduit and SASB CRE loan opportunities for diverse asset classes across the U.S. Candidates will be exposed to the full breadth of SASB and conduit loan originations, pricing, capital markets and other activities in commercial real estate lending and securitization.
What You'll Do
  • Provide analytical and underwriting support for the screening, sizing, structuring, underwriting, and closing of CMBS conduit and SASB commercial real estate loans
  • Partner closely with senior underwriters and originators to prepare comprehensive credit committee memoranda, including cash flow analysis, collateral and sponsor overview, risk assessment, and market evaluation
  • Perform property site inspections and develop market and property-level assumptions, including rent, expense, cap rate, and valuation benchmarks
  • Review and interpret third-party due diligence reports (appraisals, engineering, environmental, market studies), property leases, rent rolls, and historical and projected financial statements, support loan documentation and closing efforts by coordinating diligence items, responding to counsel and internal requests, and ensuring underwriting consistency through closing
  • Assist with preparation of securitization materials, including Asset Summary Reports and data tapes, and respond to investor, rating agency, and capital markets inquiries as needed, maintain underwriting discipline consistent with CMBS conduit standards, rating agency expectations, and internal risk guidelines

Skills You'll Need
  • Bachelor's degree from an accredited institution and proven years' experience in CMBS loan underwriting or similar role
  • Familiarity with Rating Agency CMBS criteria and underwriting methodology
  • Advanced proficiency in Excel®, Word®, PowerPoint®, and Argus®. Prior Excel® financial modelling experience required
  • Excellent communication skills, willingness to work as part of a larger team
  • Highly developed organizational and project/time-management skills, a demonstrable ability to work effectively with team members in diverse groups and regions
  • Solid work ethic, motivation level, and strong attention to detail

Expectations
It is the Bank's expectation that employees hired into this role will work in the New York, NY office in accordance with the Bank's hybrid working model.
Deutsche Bank provides reasonable accommodations to candidates and employees with a substantiated need based on disability and/or religion.
The salary range for this position in New York is $170,000 to $200,000. Actual salaries may be based on a number of factors including, but not limited to, a candidate's skill set, experience, education, work location and other qualifications. Posted salary ranges do not include incentive compensation or any other type of remuneration.
Deutsche Bank Benefits
At Deutsche Bank, we recognize that our benefit programs have a profound impact on our colleagues. That's why we are focused on providing benefits and perks that enable our colleagues to live authentically and be their whole selves, at every stage of life. We provide access to physical, emotional, and financial wellness benefits that allow our colleagues to stay financially secure and strike balance between work and home. Click here to learn more!
Learn more about your life at Deutsche Bank through the eyes of our current employees: https://careers.db.com/life
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We strive for a culture in which we are empowered to excel together every day. This includes acting responsibly, thinking commercially, taking initiative and working collaboratively.
Together we share and celebrate the successes of our people. Together we are Deutsche Bank Group.
We welcome applications from all people and promote a positive, fair and inclusive work environment.
Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status or other characteristics protected by law. Click these links to view Deutsche Bank's Equal Opportunity Policy Statement and the following notices: EEOC Know Your Rights; Employee Rights and Responsibilities under the Family and Medical Leave Act; and Employee Polygraph Protection Act.

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About Deutsche Bank

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Deutsche Bank is the leading German bank with strong European roots and a global network. We're driving growth through our strong client franchise. Against a backdrop of increasing globalization in the world economy, Deutsche Bank is very well-positioned, with significant regional diversification and substantial revenue streams from all the major regions of the world. We serve our clients' real economic needs in commercial banking, investment banking, private banking and asset management. We are investing heavily in digital technologies, prioritizing long term success over short-term gains, and serving society with ambition and integrity.

Industry

Banking and credit intermediation

Company size

10,000+ Employees

Headquarters location

New York, NY, US

Social media

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