DSCR Underwriting and Credit Specialist

4 weeks ago


Irvine, California, United States Redwood Trust Inc Full time
Job Overview

CoreVest is a leading private lender to residential real estate investors nationwide, providing long-term loans for rental properties and short-term financing for acquisitions and fix/flip projects. We are seeking a highly skilled DSCR Underwriting and Credit Associate to join our team.

Key Responsibilities
  • Verify borrower information and underwrite commercial debt financing transactions backed by single family rentals
  • Analyze rent rolls, operating history, valuations, and cash flows on portfolios of rental properties
  • Collaborate with Loan Officers and Loan Managers to ensure a smooth experience through closing
  • Review and verify documents in loan files, including credit reports, loan applications, title policies, appraisals, and financial statements
  • Assess collateral for asset quality and market conditions
  • Prioritize, track, and manage the loan underwriting process to meet deadlines and ensure timely submission to the underwriting team
  • Develop and implement new policies and procedures
  • Structure loan scenarios based on internal guidelines to meet client needs and expectations
  • Evaluate sponsor credit, background, financials, and operating capabilities, as well as property management operating capabilities
  • Prepare and review credit models and memos summarizing deals
  • Exercise discretion, independent judgment, and problem-solving abilities to complete work assignments
Requirements
  • Bachelor's degree
  • Minimum of 2 years' experience in commercial lending - single family rental, multifamily, bridge (fix and flip), ground up, and/or new construction lending
  • Strong analytical skills with financial modeling experience
  • Customer-focused mindset with excellent interpersonal, written, and verbal communication skills
  • Excellent Word, PowerPoint, and Excel skills
  • Strong attention to detail and organizational skills
What We Offer

A competitive benefit package, including a discretionary corporate bonus program, multiple health plans, STD and LTD options, company-sponsored life insurance, fitness reimbursement, paid parental leave, time to volunteer, Paid Time off, ESPP, and 401K matching.



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