Commercial Real Estate Loan Underwriting

This first course in the Commercial Real Estate (CRE) Lending Diploma program provides a comprehensive and practical framework for CRE credit risk assessment and lending decisions. Using multifamily loan exercises, learn fundamental credit analysis and underwriting skills. Topics covered include the five Cs of credit, the loan process from preliminary structure through closing, initial setup, income and expense statements, valuation, market analysis, direct capitalization, gross income multipliers, and market rent versus contract rent. Also, discuss net usable and rentable area, vacancy and collection loss, debt service coverage ratio (DSCR), loan-to-value (LTV) ratio, loan stress tests, capital stack, and global cash flow. Learn how to evaluate the borrower and guarantors and how to write clear, concise credit memos.

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