The Healthcare Underwriter plays a critical role in the underwriting of healthcare real estate loans. The Healthcare Underwriter will analyze proposed transactions, prepare formal recommendations, and assist in the closing and delivery of approved loans to necessary constituents. A candidate with the desire to learn and grow will have the opportunity to advance within the team and company overall. The position’s primary focus will be on healthcare real estate loans, but the responsibilities could also include working with other real estate-related loan products. 

• Input and analyze income and expense statements to determine maximum loan amounts.
• Conduct reviews of market areas, properties, and site characteristics.
• Complete review of borrower and management qualifications.
• Assist analysts in learning methodology for building proforma income & expenses.
• Assist analysts in learning healthcare underwriting requirements along with reviewing any lender updates on an on-going basis.
• Conduct site visits to assess the condition and quality of healthcare projects, their operations, and the market.
• Order and complete review of 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.
• Responsible for crafting the narratives/final loan packages for committee review.
• Communicate closely with the Underwriting, Production, Closing, and Insurance teams, and others as appropriate to problem-solve deal issues.
• Responsible for completing underwriting deliverables as part of the closing and submission of the loan to the investor.

Expected Experience, Skills, and Education:

• Bachelor’s degree in business or finance preferred.
• 3-5 years of experience within the real estate industry preferred.  
• A high level of computer proficiency in Microsoft Office (Word and Excel).  
• Demonstrated analytical skills with the ability to evaluate data quickly and take action to move transactions forward. 
• Excellent interpersonal and presentation skills with strong work ethic to meet the daily challenges of a fast-paced environment.  
• Demonstrated ability to develop and execute solutions to complex issues and transactions.
• Requires critical thinking skills and multitasking.  
• Ability to show ownership of your work, take on challenges, and demonstrate patience.

About Merchants 

Ranked as a top performing U.S. public bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple segments, including Multi-family Mortgage Banking that offers multi-family housing and healthcare facility financing and servicing; Mortgage Warehousing that offers mortgage warehouse financing; and Banking that offers retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking. Merchants Bancorp, with $18.8 billion in assets and $11.9 billion in deposits as of December 31, 2024, conducts its business primarily through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Investments, LLC, Merchants Capital Servicing, LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana. 

Merchants Bank and Merchants Capital have recently been honored with the 2025 USA Today Top Workplaces recognition, ranking 22nd nationally within the 500-999 employee category. This is the second year that Merchants has been recognized with this award. These accolades build on our strong history of workplace recognition, including being named a Best Place to Work in Indiana for seven consecutive years (2016–2022). For more information read the entire article here.