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Career Opportunities at Merchants Capital

Merchants Capital, formerly PR Mortgage & Investments, is headquartered in Carmel, Indiana, and is a wholly owned subsidiary of Merchants Bank. Since 1990, we have provided the best origination and service of loan products with exceptional customer service, accuracy, creativity, speed, and conformance to regulations. Merchants Capital is a premier provider and servicer of multifamily, senior and student housing in the Midwest.

Servicing
$10
Billion in Loans

Nationally Ranked
Top 10
FHA production

Approved
FHA
Lender

Approved
HUD
MAP Lender

Servicing
Fannie Mae
Affordable Lender

Approved
Freddie Mac
OptigoSM Targeted Affordable Seller/Servicer

2019 – 2016 Best Places to Work in Indiana

Merchants Capital strives to create a work environment that rewards hard work and strong performance while encouraging a positive work-life balance. At Merchants, we believe our people make the difference in our business and our full range of top-notch employee benefits are key to building and maintaining our team.

  • Medical
  • Dental
  • Vision
  • Disability
  • Life
  • 401K

Current Open Positions

Summary: The Commercial GSE Loan Processor/Closer must be knowledgeable of the various investor programs and loan products offered by Merchants Capital, which include traditional Bank financing, Fannie Mae DUS program, Freddie Mac Program Plus and Freddie Mac TAH, and FHA HUD/RHS. 

Expected Outcomes: The Commercial GSE Loan Processor/Closer will be responsible for the compliance of the respective program guide requirements. The position’s primary focus will be on Fannie Mae and Freddie Mac loans originated by Merchants Capital, but the responsibilities could also include working with Bank or HUD products. 

Essential Duties and Responsibilities: The responsibilities of the Commercial GSE Loan Processor/Closer include, but are not limited to, those outlined below.

  • Participate in Kick-off call with both Internal team members and Borrower to gain understanding of transaction at onset of process;
  • Order, track, & maintain 3rd party reports;
  • Create signature documents, both internal & external (i.e.; forms, application, invoices, engagement letters, etc.);
  • Request, retrieve, and track due diligence documents from the client via Outlook and/or file-sharing system;
  • Expert for all applicable loan policies and procedures both internally and required by Agency Guide’s, as applicable);
  • Assist origination & underwriting in clearing stipulations required by loan committee or Agency program (as/if applicable);
  • Answer client questions that may arise during the loan process;
  • Coordinate and prepare loan application packages with Underwriting team for submission for approval;
  • Submit and track insurance review with internal and external staff to ensure compliance with Bank and/or Agency requirements;
  • Maintain accurate QC/HMDA folders;
  • Maintain ‘Pipeline” report(s);
  • Coordinate with the Bank’s legal representatives to schedule loan closings, while collecting required items needed for closing from the Borrower, Bank, or Legal Team;
  • Organize closing calls with borrower and counsel, as needed;
  • Create Settlement Statements for closing and oversee the contribution of equity, loan disbursements, and third-party payments;
  • Coordinate all aspects of loan closings including but not limited to the following:
    • Provide outside counsel with timely receipt of required closing documents
    • Work closely with counsel to prepare and review all necessary loan documents;
    • Review title and survey comments prepared by counsel and follow up if required; and
    • Obtain all necessary documentation for the completion of a closing statement as well as obtain backup documentation for the processing of an initial draw for construction transactions.
  • Arrange loan fundings which includes ordering of warehouse funds from appropriate warehouse lender;
  • Review and track all Lender and Investor commitments, as applicable;
  • Issue loan commitments and confirmations, as applicable;
  • Coordinate all loan delivery packages with both Underwriting team and outside counsel, as applicable;
  • Work directly with the various Agencies to securitize and provide necessary closing documentation post-closing to finalize the mortgage-backed security to the investor, as applicable;
  • Deliver permanent loan files to servicing, construction servicing and asset management departments.
  • Complete other duties as deemed necessary;
  • Ability to travel to closings, as required;
  • Complete other duties as deemed necessary.

Expected Experience, Skills and Education:

  • Strong organizational skills with attention to detail.
  • Possess the initiative to work in an independent and reliable manner, and ability to work closely with other internal departments to process a loan in a timely manner.
  • Strong customer service skills in person, via electronic communication and phone.
  • Proficient in Microsoft Work, Excel, Outlook and database management
  • Requires critical thinking skills and multitasking.
  • Teamwork and collaborative focused with a positive attitude focused on responsibility and integrity.
  • Committed to conducting business in a manner that reflects favorably at all times on the good name, goodwill and reputation of Merchants Capital.

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. 

The Commercial GSE Loan Processor/Closer position is a full-time, exempt position.  Qualified applicants may submit their resume online.

 

Apply Online

Summary: The Multifamily Mortgage Loan Underwriter is responsible for ensuring the timely and accurate underwriting of multifamily mortgage loan transactions in accordance with agency guidelines as originated by Merchants Capital. Responsibilities include but are not limited to reviewing customer data, making sound credit decisions and ensuring they are documented to secondary market guidelines where applicable, as well as assisting loan officers and processors with gathering of loan documents.

Expected Outcomes: The Multifamily Mortgage Loan Underwriter will underwrite loans accurately and efficiently while working closely with the lending team to maintain high quality loans.

Essential Duties and Responsibilities:

  • Underwrite multifamily loans originated by Merchants Capital to FHA and RHS guidelines.
  • Provide Underwriting narrative and all applicable forms & exhibits to Loan Committee in a timely manner.
  • Analyze and review third–party provided reports including Phase I, Appraisal, Market Study, AE/C (when applicable) & PCNA’s.
  • Review borrower provided organizational documents, financial statements, business debt and Real Estate Owned schedules.
  • Review loan terms as provided by Merchants Capital and ensure compliance with agency debt requirements.
  • Collaborate with loan processor to confirm adequacy of due diligence (DD) for the loan file.
  • Communicate to the processor/borrower any outstanding DD issues in connection with preparing the lender narrative, forms & exhibits.
  • Work extensively with Microsoft Excel in financial models as it relates to the underwriting and flow of funds on transactions.
  • Collaborate with closing team to ensure DD is obtained and verified.
  • Review amendment requests and closing documents to ensure clear to close.
  • Will be required to work overtime hours as needed to meet the needs of the department.
  • Attend training on applicable subjects when available and appropriate for position.
  • Perform other duties as assigned.

Expected Experience, Skills and Education:

  • Bachelors’ degree from accredited institution or equivalent experience in multifamily loan underwriting
  • Educational or work experience in multifamily finance, credit, or related fields
  • Requires critical thinking skills and multitasking
  • Excellent customer service skills in person and on the phone
  • Excellent skills in working with Microsoft Word, Excel, and Outlook are a requirement



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.

The Multifamily Mortgage Loan Underwriter position is a full-time, exempt position.  Qualified applicants may submit their resume online. 

Apply Online

Summary: The FHA Senior Portfolio Manager manages an assigned portfolio of FHA multifamily loans. This position is responsible for the related processes and deliverables associated with the assigned portfolio. This position uses a moderate level of autonomy with only expert supervision on more complex matters. Typical duties will be ambiguous in nature requiring moderate to substantial judgment and discretion based on well-rounded experiences. The senior portfolio manager’s role is 65 percent transactional and 30 percent tactical with minimal strategic input. This position’s focus will be split between internal and external stakeholders with general responsibilities for more advanced client support.

Expected Outcomes: Success in this position will produce efficient, high-functioning portfolios ensuring accuracy, compliance and customer satisfaction.

Essential Duties and Responsibilities:

  • Service, maintain and troubleshoot assigned portfolio of multifamily mortgage loans.
  • Input and maintain data using various mortgage software.
  • Manage communications directly with or on behalf of borrowers.
  • Perform high-level analysis of escrow taxes, insurance, replacement reserves and repair accounts.
  • Ensure filing and maintenance of necessary online and hardcopy forms.
  • Interact as primary contact with HUD via phone regarding compliance/procedural issues.
  • This position has no formal supervisory responsibilities but will likely act as an informal mentor to less-experienced team members.
  • Senior portfolio managers may contribute to team member development on a project and/or ad hoc basis.
  • This position is individually accountable for assigned portfolios with broader assigned functional accountability.

Expected Experience, Skills and Education:

  • Two to four years’ role-specific experience in multifamily loan administration expected.
  • Experienced technical understanding of multifamily loan portfolio management preferred.
  • Prefer a well-developed understanding of the core FHA servicing business within a lesser-experienced understanding of the broader multifamily industry.
  • Requires problem solving skills as well as the initiative to troubleshoot and find resolutions.
  • Must demonstrate the ability to identify, interpret and apply applicable guidelines in managing assigned processes.
  • Must possess strong organization and communication skills with a focus on accuracy and attention to detail.
  • Requires proficiency in using basic computer software such as Microsoft Office, specifically regarding Outlook, Word and Excel.
  • Must demonstrate the ability to successfully manage the demands of multiple deadlines while working as a team player with consideration for customers, co-workers and vendors.
  • Bachelor’s degree from an accredited institution required.

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.  

The FHA Senior Portfolio Manager position is a full-time, exempt position.  Qualified applicants may submit their resume online.   

Apply Online

Summary: Position is responsible for ensuring the timely and accurate underwriting of multifamily mortgage loan transactions in accordance with Agency and Bank guidelines. Responsibilities include but are not limited to reviewing customer data, making sound credit decisions and ensuring they are documented to secondary market guidelines where applicable, as well as assisting loan officers and processors with gathering of loan documents.

Expected Outcomes: Under moderate supervision, work closely with the Review Underwriter underwriting new loan originations for Fannie Mae/Freddie Mac. Perform evaluation of proposed Agency loans for credit risk; obtain deal approvals from Merchants credit committee and respective Agency.

Essential Duties and Responsibilities:

  • Underwrite multifamily Agency loans originated by Merchants Capital.
  • Manage underwriting process for new loans from origination to closing.  
  • Adhere to Agency loan requirements, reviewing updates on an ongoing basis, to stay current on changes made by respective Agencies and/or Merchants.
  • Perform site inspections of underwritten assets.
  • Manage third party vendors and evaluate third party reports including appraisal reports, engineering reports, environmental reports, zoning reports, flood certifications, preliminary title, etc.
  • Coordinate and manage communication with internal Merchants staff including the Review Underwriter, originations and closings team; Agency; third party vendors, including but not limited to, the appraiser, engineer and environmental consultant; Merchants legal counsel; insurance consultant; borrower and any others that are pertinent to the success of the transaction.
  • Evaluate Borrower financial statements, bank statements, credit reports, legal searches, real estate owned (REO) schedules, resumes, etc., and determine any potential credit risks.
  • Together with other members of the team, generate a Due Diligence checklist along with monitoring receipt of and processing due diligence as it is received. Review files for completeness and identify critical missing information.
  • Analyze historical operating statements, rent rolls, market characteristics, etc., and complete the underwriting loan submission template.  
  • Alert appropriate persons to potential deal issues as soon as they arise.
  • Prepare the loan package for evaluation and approval by Merchants Credit Committee and Agency Lenders.
  • Perform other related duties as assigned.

Expected Experience, Skills and Education:

  • Bachelor’s degree in Finance, Economics, Real Estate or another related field required.
  • Minimum three-years of multifamily loan underwriting experience required; knowledge of Fannie Mae and Freddie Mac loan products is preferred.
  • Knowledge and understanding of Agency lending guidelines, including applying applicable credit parameters in order to minimize credit risk required.
  • Knowledge and understanding of Agency pricing standards in order to determine the all-in interest rate preferred.
  • Knowledge and understanding of various organizational structures such as LLCs, LPs, Corporations, Trusts, etc. preferred.  
  • Exceptional analytical, problem solving, and organizational skills required.
  • Requires critical thinking skills and multitasking
  • The ability to successfully work as a team in a fast-paced environment and demonstrate strong listening, negotiating, and leadership skills required.
  • Effective written and oral communication skills required.
  • An expertise in Microsoft Word, Excel, PowerPoint and Adobe required.

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.  

The GSE Underwriter position is a full-time, exempt position.  Qualified applicants may submit their resume online.  

Apply Online

Summary: The Executive Loan Production Assistant will perform a wide range of administrative and office-support activities for the Merchants Capital Production (Originations and Credit) Department and NYC Executive Team, with a primary focus on tasks as assigned by the Head of Agency Production and the GSE Chief Underwriter.

Essential Duties and Responsibilities:

  • Prepare correspondence and manage confidential, sensitive information
  • Answer, screen and transfer inbound phone calls
  • Prepare documents, reports and presentation materials
  • Coordinate schedules and conference calls for designated department members
  • Arrange travel accommodations as assigned
  • Receive and interact with incoming visitors
  • Maintain general office policies and procedures
  • Handle requests for general office information and data
  • Resolve administrative problems and inquiries
  • Organize and maintain office and kitchen supply inventory
  • Attend various meetings to take notes and prepare meeting minutes as needed
  • Assist with tasks related to specific loans, such as preparing forms, data entry, uploading data, editing documents, etc.
  • Assist with internal and external audits, as needed
  • Under minimal supervision, complete special projects and research as assigned
  • Perform other duties as assigned

Expected Experience, Skills and Education:

  • Bachelor’s Degree required, with two to three years in a professional setting a preference
  • Desire to learn Real Estate Finance
  • Must demonstrate the utmost professionalism and confidentiality at all times and in all circumstances
  • Possess excellent communication and customer service skills, including via phone, email and in person
  • Must be a Notary Public, or in the process of becoming a Notary Public
  • Possess the initiative to work in an independent and reliable manner, and ability to work closely with other internal departments
  • Proficient in Microsoft Word, Excel, Outlook and database management
  • Requires a keen sense of urgency, resiliency, determination, attention-to-detail and strong multi-tasking skills

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.  

The Executive Loan Production Assistant position is a full-time, exempt position.  Qualified applicants may submit their resume online.  

Apply Online

Apply Online

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