Full-Time

Underwriter

Confirmed live in the last 24 hours

Merchants Bank of Indiana

Merchants Bank of Indiana

201-500 employees

Offers banking and mortgage services in Indiana

No salary listed

Mid, Senior

Carmel, IN, USA

Category
Real Estate
Real Estate Finance
Required Skills
Financial analysis
Word/Pages/Docs
Excel/Numbers/Sheets
Connection
Connection
Connection
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Requirements
  • 3+ years of multifamily underwriting experience.
  • Requires an experienced understanding of the multifamily real estate lending process.
  • Requires a bachelor's degree in finance or a related field of study from an accredited institution.
  • Candidates must demonstrate successful critical thinking skills.
  • Requires the ability to successfully multitask and perform accurate, timely work with multiple priorities and deadlines; ability to keep transactions moving forward in a fast-paced environment.
  • Excellent customer service/interpersonal communication and presentation skills.
  • Requires proficiency in Microsoft Excel, Word, and Outlook.
  • Respect and empathy towards colleagues and other stakeholders.
Responsibilities
  • Review new applications, monitor the receipt of all due diligence from the borrower, analyze financial feasibility of new transactions, including construction, acquisition, and refinance loans, prepare applications for approval by the Bank’s Loan Committee, and ensure the loan is documented to bank and secondary market guidelines where applicable.
  • Synthesize and analyze due diligence.
  • Input historical financial data to determine project cash flow.
  • Complete reviews of borrower proforma and sponsor qualifications.
  • Build underwriting proforma and construction draw schedule projections.
  • Conduct site visits to assess the condition and quality of multifamily projects, their management, and the market.
  • Review third-party reports including appraisals, engineering, seismic, Phase I environmental assessments, and operations & maintenance (O&M) plans.
  • Maintain organized and fully documented underwriting files and manage underwriting checklists.
  • Communicate closely with the Underwriting, Production, Closing, Insurance, and other stakeholders.
  • Deliver a comprehensive underwriting narrative to loan committee to garner a credit decision.
  • Review final loan documents.
Merchants Bank of Indiana

Merchants Bank of Indiana

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Merchants Bank of Indiana provides a variety of banking services, including personal and business banking, as well as mortgage services. The bank specializes in financing solutions for multifamily, affordable, senior, and student housing, catering to individual consumers, small to medium-sized businesses, and real estate developers. It operates mainly in Indiana and utilizes both traditional and online banking platforms to meet customer needs. Merchants Bank generates revenue through interest on loans and fees for its services, while offering competitive deposit rates, free online and mobile banking, and nationwide free ATM access. A key differentiator is its subsidiary, Merchants Capital, which focuses on specialized lending for refinancing, acquisitions, new construction, and significant rehabilitation projects. The bank's goal is to provide personalized banking services and competitive financial products to support its clients' diverse needs.

Company Size

201-500

Company Stage

IPO

Headquarters

Carmel, Indiana

Founded

2009

Simplify Jobs

Simplify's Take

What believers are saying

  • Growing demand for digital banking enhances their online and mobile platforms.
  • Expansion in Illinois aligns with suburban mortgage market growth.
  • Interest in sustainable financing aligns with their affordable housing focus.

What critics are saying

  • Increased competition in Chicago may impact market share.
  • Pressure to deliver high returns from recent depositary share offering.
  • Exposure to agricultural sector risks with new lending initiatives.

What makes Merchants Bank of Indiana unique

  • Specializes in financing multifamily, affordable, senior, and student housing projects.
  • Offers competitive deposit rates and nationwide free ATM access.
  • Provides specialized lending through its subsidiary, Merchants Capital.

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Growth & Insights and Company News

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QubeMark
Apr 23rd, 2025
Merchants Bancorp Prices Depositary Share Offering

CARMEL Ind Nov 18 2024 Merchants Bancorp Merchants Nasdaq MBIN a holding company that operates through its wholly owned subsidiary Merchants Bank of Indiana Me

Merchants Bank of Indiana
Feb 27th, 2025
Merchants Mortgage's Illinois-Based Lending Team Moves to New Location within Chicago Suburb

The new space will support a growing team of mortgage professionals as Merchants continues to expand its services and presence across the greater Chicago metropolitan area and throughout the state of Illinois.

Building Indiana
Dec 28th, 2024
Merchants Bank Hires George Wilson as New Hamilton County Agricultural Lender

Merchants Bank (NASDAQ:MBIN) announced the hiring of George Wilson as an Agricultural Lender to serve Hamilton County and the surrounding area.

Fintechs Depot
Nov 26th, 2024
Merchants Bancorp Closes Depositary Share Offering

As a result of the public offering Merchants received proceeds of approximately $222.8 million, net of estimated expenses and underwriting discounts and commissions.

Business Insider
May 30th, 2024
AELF Announces Completion of $40 Million Credit Facility With Merchants Bank

CHICAGO, IL / ACCESSWIRE / May 6, 2024 / Aircraft Engine Lease Finance, Inc ("AELF") announced today it has completed a $40 million cred...