Underwriter | Cardinal Capital Management, Inc.


The underwriting function analyzes real estate debt and equity investments and assesses the risks and mitigates associated with such. Generally, this includes ensuring that the proposed investment is sound real estate, that it meets stated underwriting guidelines, and that it will provide underwritten financial benefits.

Essential Functions

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  1. Preparing financial pro formas for potential real estate investments
  2. Assessing the real estate market where the proposed investment will be located to:

    Verify the primary market area

    b. Identify market comparables

    c. Confirm rent and occupancy levels at comparables

    d. Identify future developments that may impact demand

    e. Determine reasonableness of proposed rents

    3. Assessing validity of operating expense assumptions by using comparable data from Cardinal portfolio, appraisal, and data provided by the developer and/or management agent

    4. Identifying underwriting issues associated with potential real estate investments

    5. Identifying factors of the proposed investment that differ from standard underwriting criteria

    6. Preparing presentations of proposed investments to the Development & Acquisitions Teams

    7. Preparing term sheets, letters of intent and commitment letters for potential real estate investments

    8. Updating investment information in data management system

    9. Preparing investment reports for presentation to the Development & Acquisitions Teams

    10. Coordinating the preparation of the partnership agreement and loan documents with Cardinal counsel

    11. Reviewing due diligence documents related to investment feasibility

    12. Preparing the final financial pro forma and transition memo

    13. Participating in industry activities, including industry conferences, trade shows, education opportunities, and other events that will benefit Cardinal business relationships

    14. Continued education in applicable aspects of the laws and regulations for different programs involved in the investments (Fannie Mae DUS loans, HOME Loans, other loan products, tax credit rules, bond compliance, etc.)

    15. Maintaining business relationships with investors, developers, accountants, attorneys, consultants, property manager, housing finance agencies, lenders, and any other related parties

    16. Involvement in the assessment of policies and procedures of the underwriting department to assist in continually improving the performance of the department

    17. Participation in departmental staff meetings and company-wide staff meetings

    18. Maintaining a professional appearance and presence at all times

    19. Performing other duties which may be requested by Cardinal management and/or executive



  1. Communication Proficiency.
  2. Decision Making.
  3. Discretion.
  4. Ethical Conduct.
  5. Financial Management.
  6. Organizational Skills.
  7. Personal Effectiveness/Credibility.
  8. Presentation Skills.
  9. Problem Solving/Analysis.
  10. Technical Capacity.
  11. Thoroughness.

Position Type and Expected Hours of Work

This is a full-time position. Days and hours of work are Monday through Friday, 8:30 a.m. to 5 p.m. Position may work over 40 hour regularly.

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Full Job Source

June 20th, 2017 by