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Hybrid work schedule, 4-5 days per week in the Greenwood Village (Denver), CO office
Diya Finance is an institutional private lender that provides real estate investors and developers with business purpose financing on non-owner-occupied residential properties. We primarily focus on sourcing and funding DSCR Rental loans, Rehab Bridge, and Ground-Up Construction. We are a well-capitalized lender that is in the start-up phase, and the successful candidate will be an instrumental part of our growth journey. The Underwriter is responsible for assessment of various risks and adherence to lending guidelines pertaining to the Borrower, Sponsor/Guarantor, Property, and Construction Project.
Essential Duties & Responsibilities:
- Responsible for underwriting real estate lending transactions, including DSCR Rental loans and Bridge/Construction loans with a construction holdback.
- Review, manage, and critique the work of Underwriting Support staff.
- Analyze entity and guarantor financial information, both historical and future.
- Assess complex financial (entity and individual) and credit information according to internal underwriting standards, investor guidelines, and federal regulations.
- Complete construction project feasibility reviews, including analyzing construction budgets and scopes of work.
- Assist with the underwrite of construction draws, if needed.
- Identify relevant business, market, and other commercial risks faced by the borrower.
- Prepare risk assessments and credit memos.
- Interact directly with Loan Committee on Credit Policy and loan-level underwrites.
- Effectively manage a pipeline of loan underwrites that consists of DSCR Rental, Bridge and Ground-Up Construction loans.
- Offer recommendations on whether or not to approve a loan.
- Offer recommendations to improve process efficiency and reduce/eliminate underwriting oversights.
Desired Skills & Qualifications:
- Highly organized and able to prioritize.
- High mathematical aptitude.
- Excellent attention to detail with the ability to spot mistakes or potential problems and correctly complete all analysis and documentation involved in the underwriting process. Accuracy is essential for optimal job performance.
- Business judgment and ability to synthesize and analyze data.
- Excellent communication skills, both oral and written.
- Team player with experience collaborating with virtual or remote teams.
- Willingness to learn new skills and evolve knowledge of the industry.
- Proficiency in Microsoft Office.
- Goal-oriented and self-motivated with a determination to work hard to achieve set goals.
Education/Experience:
- At least 3 to 5 years mortgage underwriting experience.
- Experience underwriting Bridge Rehab and/or Ground-Up Construction loans is required.
- Experience underwriting DSCR Rental loans is a plus.
- High school diploma or equivalent. Some college preferred.
Benefits:
- Paid vacation and holidays
- Medical, dental, vision, life, and long-term disability insurance
- 401k
Diya is an institutional private lender providing real estate investors and developers with business-purpose financing for non-owner-occupied properties. We focus on DSCR Rental loans and bridge loans for stabilized properties. As a well-capitalized lender in the start-up phase, the successful candidate will play an integral role in driving our growth and success.
Key Responsibilities:
· Manage relationships with TPO’s and oversee their deal flow of DSCR rental loans.
· Guide transactions from the initial inquiry through to successful closing.
· Serve as the single point of contact for TPO’s, managing deal submissions and ensuring deals progress smoothly from loan submission to closing.
· The ability to confirm pricing, loan structure and DSCR.
· Lead pipeline calls with TPO’s to review active deals and ensure they stay on track to meet closing timelines.
· Advise TPO’s on our loan programs, including loan structure and terms.
· Assist Underwriting teams in communicating conditions and resolving any loan-related issues.
· Use cutting-edge technology solutions to manage and track loan pipelines effectively.
· Stay up-to-date with industry knowledge by attending educational opportunities, reading industry publications, and networking with professionals.
· Maintain confidentiality and safeguard customer information at all times.
· Expectation of closing 20 plus loans a month.
Desired Skills & Qualifications:
· Strong attention to detail, the ability to multitask in a fast-paced environment, and excellent communication skills.
· Proven track record of meeting and exceeding production goals.
· Experience in mortgage lending, preferably in DSCR, Rehab Bridge loans.
· Proficient in using CRM systems and other loan processing technology.
· Ability to work independently and as part of a team.
Total compensation potential of $100,000+, including base salary and commission per closed loan (commission is earned on each closed loan).
Performance-based bonus structure, based on funded loans.
Annual discretionary bonus.
Opportunities for advancement as we scale.
Job Type: Full-time
Pay: $50,000.00 – $100,000.00+ per year
Benefits:
• 401(k)
• Dental insurance
• Health insurance
• Paid time off
• Vision insurance