Senior Underwriter/Loan File Reviewer
Austin
Easy Street Capital /
Remote
Easy Street Capital is looking for Senior Underwriter / Loan File Reviewer to perform comprehensive underwriting reviews for DSCR Loans originated under the company’s fast-growing and industry-leading “EasyRent” platform. The EasyRent platform provides “DSCR” loans for real estate investors looking for financing residential (1-10 unit) investment properties. These loans are underwritten according to industry standard guidelines under multiple innovated loan programs for inclusion into Non-QM (Non-Qualified) RMBS securitizations, with underwriting, loan files and data tapes required to confirm with securitization standards.
You’ll get to work for a fast-growing, highly innovative company headquartered in downtown Austin, Texas [in-office in Austin preferred, nationwide remote OK]. We believe in empowering professionals in this role to try out new ideas, pursue and use cutting-edge strategies and technologies and grow their careers quickly and exponentially.
The ideal candidate will have experience in an underwriting and/or due diligence role related to the review of DSCR Loan files – including at other DSCR direct lenders, loan aggregators or purchasers or consulting/third party diligence review firm. Relevant experience at similar firms engaged in other Non-QM Loans or Commercial Real Estate (CMBS) Loans also considered strong relevant experience. Candidate should have experience and ability to quickly and effectively review documents related to such mortgage loans, including loan documents, appraisals, property insurance, title insurance, LLC entity documents, leases and credit/background reports. Ideal candidate is also familiar with review process and procedures and the structure of securitization data tapes and loan file management.
Tasks and Responsibilities
- Perform underwriting and quality control loan file reviews of loan files prepared and underwritten by credit analysts and senior credit analysts. This involves a full file review including documentation, review of accuracy and completeness of data tape and a review of an underwriting and asset summary report (liquid assets analysis, rent roll, cash flows and narrative writeup).
- Provide direct feedback and training on reviews to the credit analysts and senior credit analysts including explanation of changes and ongoing guidance for improvement.
- Review signed loan documents and closing statements for accuracy and completeness regarding full and proper execution of loan documents and the release of escrows
- Interface with third-party review firms and secondary market loan buyers regarding exceptions and file feedback, proactively and quickly addressing any items flagged in review in order to expedite and smoothly complete loan sales on the secondary markets.
- Continuously develop expertise on internal underwriting guidelines and any market changes or developments in the industry
Skills Desired/ Required
- 2-5 Years Experience in a related role (Underwriting, Loan File Reviews, Due Diligence, Quality Assurance, Securitization, Advisory) to DSCR Loans (or non-QM residential loans or CMBS loans)
- Extremely high attention to detail and organizational skills
- Strong communication skills and ability to both give and receive feedback
- Strong Understanding on the documentation involved in mortgage loan files underwritten for RMBS/CMBS securitizations including legal documents, appraisals, property insurance, title insurance, LLC entity documents, leases and credit/background reports
- Positive Attitude, Accountability and willingness to work additional hours (past standard 45-Hour Week) in times of heavy deal flow
Benefits
- Company sponsored health insurance
- Company paid life Insurance
- Company sponosred 401(k)
- Paid vacation time
- Paid sick leave
$0 - $0 a year
Location: Austin, Texas in-office preferred (Nationwide – Remote OK)
We are looking for the right team member to join our team. If you feel you are that person, please apply!
