Park Place Finance, a leading nationwide private lender for fix and flip and ground up construction loans, is looking for a Loan Underwriter to review, underwrite and approve our private money loans based on our internal lending guidelines. These are 12-18 month first lien position loans, that are underwritten to conform to our loan committee standards.
Our ideal candidate will have a background in credit analysis, underwriting, ability to underwrite off of risk and not just an automated approval, a strong understanding of guidelines and be able to work in a fast paced environment with a pipeline of 30-40 loans at any one time.
Responsibilities:
- Responsible for underwriting investment borrower applications to ensure they meet Park Place guidelines.
- Is fluent with the use of automated underwriting systems, documentation requirements, lender portfolio and secondary market investor requirements. Underwrites loans within appropriate guidelines.
- Mentors Underwriting Assistants to ensure loans are documented appropriately.
- Makes recommendations directly to the President regarding more complex loans and policy exceptions.
- Works with origination team using product and underwriting knowledge to approve loans through counter offer if necessary.
- Ensures compliance with federal, state and investor regulations and keeps abreast of mortgage industry changes.
- Assists Account Executives, Processors and Underwriting Assistants by offering advice and underwriting changes on loan products, underwriting, and compliance issues.
- Handles customer requests for questions on underwriting in a timely fashion while maintaining underwriting standards.
- Applies knowledge of all loan products, programs and investor requirements to review and ensure underwriting compliance, accuracy and completeness of appraisals, debt to income ratios, credit reports and scores, loan to value ratios, loan level pricing adjustments so that all investor requirements are met.
Qualifications:
- Bachelor's degree or equivalent underwriting/analyst experience.
- Minimum of two years Hard Money or Commercial Lending underwriting experience. Non-QM or Private lending Underwriting experience a plus.
- Extensive knowledge of underwriting, secondary market guidelines and regulatory guidelines
- A history of underwriting for multiple correspondent Lenders.
- Strong time management and organizational skills.
- Proven track record of strong analytical proficiency.
- Ability to communicate in an effective and efficient manner both verbally and written.
- Proficiency with Microsoft Office Suite products is required.
- Tech savvy with ability to learn various web based systems.
If you are a motivated professional with a passion for the mortgage industry and meet the qualifications outlined above, we invite you to apply for the Loan Underwriter position here at Park Place Finance!