DSCR Underwriting and Credit Associate

Job Summary :

CoreVest is the 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 Associate will work in a fast-paced work environment, work closely 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.

Essential Functions and Responsibilities : Include the following but not limited to, other duties may be assigned.

• 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

• Serves as main point of contact for Loan Officer/ Loan Manager to ensure a smooth experience through closing by setting proper expectations
• Work closely with Loan Officer / Loan Manager 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 model and memo summarizing deal
• 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
• Additional duties as requested by management.

Minimum Requirements : The responsibilities listed below are required. Accommodations may be made to enable the individual with disabilities to ensure the individual can perform the essential functions and responsibilities.

• 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