Securities Underwriter Jobs (NOW HIRING)

We are seeking a highly analytical and detail-oriented CMBS Underwriter to support the underwriting, structuring, and execution of commercial real estate loans across a diverse set of property types and markets. This role is responsible for evaluating prospective lending opportunities, conducting property- and borrower-level due diligence, preparing credit materials, and coordinating transactions from initial screening through closing and securitization. 

The ideal candidate will have experience underwriting CMBS loans across all property types and will be comfortable working closely with originations, credit, legal, capital markets, and external counterparties in a fast-paced, deadline-driven environment. This is an excellent opportunity for a motivated professional to join a dynamic commercial real estate finance platform and contribute to the underwriting and execution of complex CMBS transactions across a diverse set of property types and markets. 

Job Summary 
The CMBS Underwriter will provide comprehensive underwriting support for the screening, sizing, structuring, diligence, approval, and closing of commercial real estate loans intended for securitization. The position requires strong financial modeling, valuation, and credit analysis skills, as well as the ability to synthesize complex information into clear underwriting conclusions and recommendations. 

This individual will play a key role in preparing credit committee memoranda, reviewing third-party reports, analyzing lease and rent roll data, supporting securitization deliverables, and maintaining underwriting discipline consistent with CMBS standards and internal risk guidelines. 

Job Responsibilities 

• Underwrite commercial real estate loans for securitization via CMBS conduit, for a range of property types and markets. 
• Support the screening, sizing, structuring, pricing, and execution of prospective loan opportunities. 
• Analyze property cash flows, historical and projected operating statements, rent rolls, lease abstracts, occupancy trends, and borrower/sponsor financial strength. 
• Prepare detailed Excel-based underwriting and cash flow models to assess proceeds, DSCR, valuation, and structural sensitivity. 
• Conduct market research and property-level analysis, including review of comparable rents, expenses, cap rates, and broader market fundamentals. 
• Perform and coordinate due diligence, including review of appraisals, engineering reports, environmental reports, market studies, financial statements, and legal / documentation items. 
• Complete site inspections and develop underwriting assumptions related to market positioning, occupancy, tenant quality, and physical condition. 
• Prepare credit memoranda, asset summary reports, internal approval packages, and other underwriting deliverables that clearly outline risks, mitigants, and recommended loan terms. 
• Partner with internal stakeholders including Originations, Credit Risk, Legal, Capital Markets, and Operations to manage deal flow and ensure timely execution. 
• Assist with closing and securitization processes, including diligence tracking, counsel coordination, securitization support, investor questions, and rating agency requests. 
• Maintain strong documentation standards and underwriting consistency through closing and post-closing review. 
• Support ongoing portfolio surveillance and asset management activities, including quarterly reviews, watchlist monitoring, and identification of emerging credit issues where applicable. 
   

• 5 years of proven experience underwriting CMBS loans across all the major property types. 
• Strong understanding of commercial real estate fundamentals, including cash flow analysis, valuation, collateral review, and sponsor assessment. 
• Advanced proficiency in Excel and financial modeling; strong command of underwriting analytics and credit presentation materials. 
• Ability to review and interpret financial statements, rent rolls, leases, third-party reports, and historical/projected financial statements. 
• Strong written and verbal communication skills, with the ability to present underwriting conclusions clearly and concisely. 
• Exceptional attention to detail and ability to manage multiple transactions simultaneously in a deadline-driven environment. 
• Familiarity with rating agency criteria, securitization, and capital markets execution. 
• Ability to organize and prioritize projects, complete multiple tasks on schedule and problem solve when issues arise. 
• Experience interfacing with originators, legal counsel, rating agencies, investors, and third-party diligence providers. 
• Ability to organize and prioritize projects, complete multiple tasks on schedule and problem solve when issues arise. 
• Proficiency with Microsoft Office, and Argus. 

Education 

• Bachelor's degree in finance or related discipline. A master's degree is preferred.