Job Description

SEEKING: COMMERCIAL/CONSTRUCTION MORTGAGE UNDERWRITER

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. It’s imperative that the Asset Underwriter has 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 Asset Underwriter should feel comfortable forming an opinion and analysis of their loans verbally and in writing.

SUMMARY Under the direction of the Asset Underwriting Manager, the Asset Underwriter will coordinate with various department from Loan Processor(s), Sales Support Specialist(s), Risk, Legal and the Construction Department and analyze and review all transaction document to ensure compliance within our Credit & Risk Management requirements. Asset Underwriter will present underwriting findings to Senior Management to proceed with loan decision.

ESSENTIAL FUNCTIONS include the following. Other duties may be assigned.

• Review and approve title reports, 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-arms length transactions and other non-traditional situations is a plus.
• Review and QC documentation related to Renovation/Construction loans including Rehab/Construction Budgets, Plans, Permits, CofO, Code Violations, etc..
• Read and interpret Borrowing Entity documentation (LLC, Corp, LP, GP), capital structure at the entity level as well as loan level, authority of entity owners vs Manager.
• Review various ratios, percentages, measures of debt servicing/debt coverage formulas, and loan metrics. Need to fully understand the formulas behind the data being reviewed and how that effects the credit rating on the asset
• Demonstrates analytical thinking, problem solving, decision making, 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.
• The Asset Underwriter must be able to take lead in communicating and coordinating with other departments in an effective manner to keep the subject property on track for a targeted funding date.
• Demonstrate an ability to handle communication and pressure from multiple sources at once when it comes down to the wire for meeting a funding deadline. Genesis specializes in funding loans in a more compressed timeline than the average Commercial Lender so the Asset Underwriters are regularly put in chaotic/high pressure situations near funding deadlines.
• Above average writing skills are required to complete a Loan Summary on certain loans that will include: summary of the project, any nuances or exceptions, the Borrowers background/Credit profile, analytical data such as a DSCR or release pricing, the risks associated with the loan, and your analysis of the mitigating factors to offset any risks.

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.

• Must have High School Diploma or GED; Bachelor’s degree preferred
• Minimum 4 + years mortgage loan underwriting experience
• Minimum 1+ year in commercial lending underwriting experience
• Private money and construction lending experience a must
• Strong analytical skills
• Proficient in MS Word and Excel
• Self-motivated with strong desire to succeed
• Strong interpersonal and communication skills with exceptional follow-through abilities
• Excellent verbal and written communication skills

DESIRED CHARACTERISTICS

• Self-motivated with strong desire to succeed
• Detail oriented and organized with ability to multi-task
• Strong customer services skills
• Strong business acumen
• Takes initiative with a clear business purpose in mind
• Continually seeks to improve business processes
• Adapts to change easily in a fast working environment
• Follows direction easily
• Excellent time management skills
• Team Player

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.