Real Estate Underwriter

If you are an internal associate, please login to Workday and apply through Jobs Hub.

Working at PPM America, Inc.

PPM is a US-based institutional asset manager. Established in Chicago in 1990, PPM exists to consistently support institutional clients in achieving their long-term value goals. We take a hard work, straight talk, full transparency and humility approach to our work. Our success is supported by a team-based culture that encourages debate, collaboration and consistency. At the center of our belief is the fact that our best ideas to date have and can come from any team member anywhere in our firm. We believe the success of our investment culture is best demonstrated by the strong retention of our clients and investment professionals. PPM was again named one of the Best Places to Work in Money Management by Pensions & Investments in 2024. We attract professionals who exhibit humbleness, directness, and dedication. PPM's values guide our internal conduct and help define the type of relationships we share with our investors, affiliates, and other valued partners. Above all, PPM is passionate about giving back to our clients, to each other, and to our community. We understand that community and purpose are just as important as the job description when finding your next career.

Values

At PPM, our values are reinforced in our culture every day. We act like owners. Integrity guides all that we do, and we are committed to exercising sound judgment in every decision that impacts the company and serves our clients. We are passionate about investment performance and driving results. We are relentless in our efforts to provide best in class service. We strive to build strong and lasting relationships with our clients, seeking to gain trust in everything we do. We work collaboratively with transparency and accountability. We operate as a team. We rely on each other, are accountable to each other, and respect each other. We value differences and unique perspectives and embrace the principle that great ideas can come from anyone. We embrace change. We are not afraid to challenge the status quo in search of a better, smarter or faster solution. We value learning, challenge ourselves and motivate others. We are also committed to positively impacting our community. As a firm, we invest time, experience and fundraising efforts with our non-profit partners.

At PPM, we offer volunteer opportunities to get involved with a network of peers and support the causes that are important to you. Your passion and talents can make a lasting impact on our organization and our community. Additionally, our employees go the extra mile every day and the benefits of working at PPM reflect our commitment to supporting and enhancing their personal and professional lives. The plans and programs listed below are offered in collaboration with our parent company.

Commercial Real Estate Team

The Commercial Real Estate Group (CREG) at PPM invests in commercial mortgage loans, on behalf of PPM's various clients. Specific responsibilities within the CREG include loan origination, loan closing, loan servicing, asset management and portfolio analytics, virtually all of which offer both quantitative/financial and qualitative components. Like the rest of PPM, the CREG prides itself on its collegial and collaborative culture where team members are encouraged to develop and explore solutions in a supportive environment, as well as its positive work-life balance. Senior leadership within the CREG averages nearly 20 years of tenure at PPM, which speaks to the quality of the work environment and the commitment of employees to each other.

Job Purpose

The Commercial Real Estate Group (CREG) loan origination team is responsible for all aspects of the loan origination process for both core and structured loans. The Real Estate Underwriter works with CREG loan originators to help source, review, underwrite, and present new loan opportunities, as well as playing an active role in loan closing, servicing, and monitoring of the existing portfolio throughout the entire life of the loan. The Real Estate Underwriter works as part of the CREG loan origination team in all aspects of the loan origination process.

Essential Responsibilities

• Provides support and analysis in all aspects of the core and structured mortgage loan origination process, including economic analysis, borrower/sponsor analysis, market analysis, lease review and analysis, and preparation of committee presentations.
• Works closely with CREG originators and the Head of Loan Origination in reviewing, quoting, negotiating, and underwriting new core and structured loan opportunities. Acts as an integral part of a cohesive origination team that is responsive, efficient, and productive.
• Works closely with CREG's mortgage broker network and borrowers to review new core and structured loan opportunities, secure needed information for underwriting, perform deal approval and closing, and provide back-up market coverage for originators when necessary.
• Provides support to originators, when needed, to ensure CREG process is responsive and efficient.
• Assists originators and CREG loan closers in closing new loan transactions, including review of third-party reports and updated economic information, and procuring of needed closing items.
• Collaborates with the entire CREG origination team to refine processes and procedures for new loan originations, develop an annual business plan, and adjust team strategy, as needed, to ensure the origination of high-quality loans that will perform well over time and meet clients' needs.
• Builds and maintains strong relationships with mortgage brokers, borrowers, and other industry leaders.
• Attends industry conferences and takes part in industry organizations.
• Works closely with Loan Servicing, Portfolio Analytics, and Asset Management to monitor the existing loan portfolio.
• Assists the other teams within CREG in ad-hoc projects, as needed.

Other Duties

• Performs other duties and/or projects as assigned.

Knowledge, Skills and Abilities

• Strong understanding of commercial real estate valuation, cash flow analysis, and market risk drivers.
• Excellent financial modeling skills with proficiency in Microsoft Office, especially Excel and Word.
• Excellent written and oral communication skills with the ability to interact well with people inside and outside the organization.
• Excellent organization skills with a strong attention to detail and ability to manage multiple projects.
• Excellent presentation skills.
• Ability to work independently and as a part of a team.

Qualifications

• Bachelor's Degree in Commercial Real Estate, Finance, or related field required.
• MBA with concentrations in related fields preferred.
• 5+ years of experience in the commercial real estate field, including direct experience in providing analysis and origination of new core and structured commercial mortgage loan transactions, required.
• Life insurance company mortgage lending experience preferred.
• CRI or CFA designation preferred.

Benefits

At PPM, we offer volunteer opportunities to get involved with a diverse network of peers and support the causes that are important to you. Your passion and talents can make a lasting impact on our organization and our community. Additionally, our employees go the extra mile every day and the benefits of working at PPM reflect our commitment to supporting and enhancing their personal and professional lives. The plans and programs listed below are offered in collaboration with our parent company.

• Competitive salary and bonus
• Medical, dental and vision coverage
• For eligible employees, $2 for $1 matching on 401k contributions, up to a max matching contribution of 12% of your eligible compensation.
• Tuition and professional certification reimbursement
• Paid parental leave
• Adoption assistance
• Holidays and paid time off
• Paid time off to volunteer

Equal Employment Opportunity PPM America, Inc. is an equal opportunity employer and we base our employment decisions without unlawful regard or consideration of an individual's race, color, religion, national origin, sex, gender, sexual orientation, ancestry, citizenship, age, marital status, veteran status, medical condition, non-job related disability, pregnancy or any other basis protected by federal, state, or local law.

Base Pay:
$110,000.00 - $120,000.00. The base salary for this position may vary depending on experience, job-related knowledge, skills, and abilities. In addition to the base salary, this role will be eligible to participate in our annual bonus program. This role will also be eligible for compensated personal time off and holidays, health benefits, 401(k) plan with generous matching and other benefit programs according to the Company's employment policies and subject to the formal terms of such plans and programs.