Senior Underwriter and Credit Associate

4 weeks ago

Irvine, California, United States Redwood Trust Full time
Job Title: Underwriting and Credit Associate

CoreVest is a leading private lender to residential real estate investors nationwide. We provide long-term loans for rental properties and short-term financing for acquisitions and fix/flip projects. The Underwriting and Credit Associate will work in a fast-paced work environment, collaborating with internal teams and various third parties involved in financing transactions to properly verify the information provided by the borrower team and underwrite a transaction.

Key Responsibilities:
  • Underwrite commercial debt financing transactions backed by single-family rentals (SFR)
  • Analyze rent rolls, operating history, valuations, and cash flows on portfolios of rental properties
  • Act as the main point of contact for Loan Officers/Loan Managers to ensure a smooth experience through closing by setting proper expectations
  • Work closely with Loan Officers/Loan Managers to review and discuss needed conditions for approval
  • Review and verify documents in loan files, such as credit reports, loan applications, title policies, appraisals, and financial statements are current and accurate
  • Review collateral for asset quality and market conditions
  • Prioritize, track, and manage the loan underwriting process in order to meet deadlines and ensure timely submission to the underwriting team
  • Assist with training and implementation of 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
  • Ability to work well under pressure and handle multiple transactions in a fast-paced deal environment
  • Exercise discretion, independent judgment, and problem-solving abilities to complete work assignments
Minimum 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

A reasonable estimate of the base compensation range for this role is $K annually. The actual salary offer to the successful candidate will be based on job-related education, geographic location, training, licensure, and certification, and other factors. Our company also offers a competitive benefit package including 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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