Job Description

RTL/DSCR UNDERWRITER

Center Street Lending is one of the largest specialty lenders in the United States. We provide lending solutions to residential real estate investors. This includes short term lending solutions for Fix/Flip, Ground Up, Single Family Rental and Apartment development projects. The company was created in 2010, and has originated more than $5.5 billion in loans since that time. Center Street Lending prides itself on delivering superior customer service and creative lending solutions by using the collective expertise of its team. Center Street Lending is a certified Great Place To Work™.

THIS IS AN ONSITE OPPORTUNITY IN IRVINE. PLEASE ONLY APPLY IF YOU RESIDE IN ORANGE COUNTY, CA.

Responsibilities:

• Playing an integral role within the Credit team, you will provide direct support to the underwriting manager, mentor junior team members, and serve as a resource to the Sales Team and other operating departments.
• Analyze all loan documents to determine the borrower’s ability to exit the loan while evaluating loan strength through factors such as ROI, DSCR, and After Repair Value.
• Conducting a final integrity analysis to ensure loans meet credit standards, are leverageable, and have crafted analytical narratives highlighting the operator’s ability to exit.
• Structuring loans based on a variety of loan programs offered ensuring that any loans perceived to have risk always have clearly stated and identified mitigants.
• Analyze all loan documents including appraisal, assets, personal and/or business financials, credit, background, escrow, purchase contract, construction/budget documents and preliminary title reports ensuring acceptance and final loan decision meets products and lending guidelines prior to closing.
• Analyze entity documents, be able to recognize nested entities while identify the key entities relevant to the loan application.
• Analyze appraisals and secondary valuations in depth with special focus on appropriateness of value.
• Takes initiative with a clear business mind, maintain a healthy level of skepticism while remaining pro-deal minded, a problem-solving attitude and a collaborative approach with appropriate parties before, during and after closing.
• Escalates loan exceptions to management or Committee Credit for review and final decision outside of lending authority or as designated in the lending guidelines.
• Maintains an accurate active pipeline with knowledge of loan details while acting as a Team Player with all internal and external customers.

Qualifications:

• 2-4 years of recent preferred experience in loan processing, credit analysis, or related fields is required.
• Private/RTL/DSCR Lending and a Real estate background required.
• Ability to calculate ROI, DSCR, NOI, Debt Yield, and leverage ratios such as LTARV and LTC
• Private lending experience preferred.
• Familiarity with fair lending practices and an understanding of the Fair Credit Reporting Act and lending industry guidelines
• Detailed knowledge of loan processing, underwriting, and closing procedures; proficiency in Outlook, Excel, Word (Microsoft)
• Encompass - preferred
• Expertise in the use of loan underwriting, processing, and management software
• 45 – 60 files closures per month – High volume

ONSITE - IRVINE ,CA

Education:

• Bachelor’s degree preferred.

Compensation:

• $36.06 - $43.27 Hourly

Benefits:

• Paid time off/401k plan/Company Events
• Health insurance/Dental Insurance/Vision
• Company Offsite Events

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