Job Description

The Genesis Capital office is located in Sherman Oaks, CA

SEEKING: COMMERCIAL JUNIOR MORTGAGE UNDERWRITER

Genesis Capital LLC (“Genesis”) one of the largest private-money lenders in the US focused on providing responsive, flexible and reliable personal service to highly qualified and experienced real estate developers who buy, renovate, and sell single family residential real estate and/or multi-family apartment buildings. Recently acquired by Goldman Sachs in 2018, the Company's strategy is to dramatically grow core business nationally and enter adjacent products/markets to achieve $3+billion in originations by 2020.

SUMMARY

Genesis Capital provides a wide array of loan programs to meet the unique needs of its Borrowers. Programs vary depending on a multitude of factors including, but not limited to transaction type, property type, project type, geographical location, and Borrower credit profile. As such, guidelines are continuously being evaluated, improved, and/or customized to best support our Borrower’s needs while staying within the risk tolerance levels set forth by Credit & Risk Management. The Jr. Asset Underwriter, working on the express swim lane process, must have a clear understanding of Risk Management from a big picture perspective and does not just rely on fitting data points into a Guideline “Box”. In addition, the Jr. Asset Underwriter should feel comfortable forming an opinion and analysis of their loans verbally and in writing. The Jr. Asset Underwriter will be responsible to manage a high-volume loan pipeline and work closely with Third-party vendors (escrow, title, insurance), Sales, Valuations, Underwriting (Asset, Construction, Borrower), Doc, Accounting / Funding and Post-Closing departments to ensure loans close as scheduled and in compliance.

ESSENTIAL FUNCTIONS:

• Manage a high-volume loan pipeline and ensure loans close as scheduled and in compliance.
• Ensure third-party vendor orders are placed and received within agreed upon SLA.
• Conduct quality control of all documents received and save to internal loan processing system.
• Conduct quality control of transactional documents such as title commitments, purchase contracts, escrow instructions, deeds, closing statements and other documentation common to purchase and refinance transactions. Familiarity with assignments, double escrows, cash purchases, auctions purchases, non-arm’s length transactions and other non-traditional situations is a plus.
• Review and QC documentation related to Renovation loans including Rehab/Construction Budgets, Plans, Permits, Certificate of Occupancy, Code Violations, etc.
• Review various ratios, percentages, and loan metrics. Need to fully understand the formulas behind the data being reviewed and how they affect the credit rating of the asset.
• Coordinate lien resolution with title (and 3rd parties) such as city liens, substandard liens, subordinate liens.
• Prepare and submit complete loan files for the Asset Underwriting Manager’s review.
• Pipeline management and collaboration with multiple parties for closings.
• Update internal loan processing system which include data fields, transactional documentation, and notes.
• Serve as a liaison between loan originator, relationship manager, sales associate, borrower, escrow and/or closing agent for signing and funding.
• Responsible for requesting and reviewing prior to doc, prior to funding and post-closing conditions; ensuring all documentation and conditions meet the Asset Underwriting Policy.
• Demonstrates analytical thinking, decision making, problem solving skills and sound judgment by gathering and applying relevant data to research and resolve issues.
• Demonstrate ability to handle issues that may not have a definitive resolution one way or the other. There can be a lot of subjective areas that require a thoughtful decision based on logic and reason, not a pre-determined answer.
• Demonstrate an ability to handle communication and pressure from multiple sources at once near funding deadline.
• Provide excellent customer service and problem-solving solutions with all parties to the loan before, during and after closing.

BASIC QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION AND EXPERIENCE:

• High school diploma required
• Bachelor's Degree preferred
• 2-3 years relevant work experience in mortgage loan processing or 1-2 years in credit analyst/underwriting related experience in in a commercial bank
• Experience in private money lending, underwriting or construction finance a plus
• Must understand underwriting and funding process

Genesis Capital is an equal opportunity employer.

Company Description

Genesis Capital, subsidiary of Goldman Sachs, is one of the largest private money lenders in the country, focused on providing commercial real estate financing solutions to real estate developers who buy, renovate, and sell single-family residential real estate and/or multi-family apartment buildings.