Job description
Job Title: Underwriter
Company: Lima One Capital - West Coast Operations
Location: Irvine, California
Location: Irvine, California
Job Type: Full-time
Summary:
Lima One Capital is looking for a dynamic underwriter to join the Lima One Capital team. This is an exciting new opportunity for an experienced underwriter to be part of the continued growth and success at Lima One Capital as we further expand into the West Coast at our location in Irvine, California. The Underwriter will focus on providing detailed underwriting and review of short-term loan and rental loan submissions and will be an integral part of deal approvals and customer experience. The Underwriter will work in a fast-paced environment, working closely with our clients, the sales team and other third parties that may be involved including vendors and brokers.
Duties and Responsibilities include, but are not limited to the following:
- Underwrite on a Borrower level and an Asset level
- Manage pipeline of assigned files and ensure turnaround times are being met
- Borrower and Broker facing role where effective communication will be key to obtain documentation and additional clarification needed to underwrite the loan request
- Analyze rent rolls, bank statements, credit reports, background reports, rehab budgets, scope of work, appraisals and additional items depending on loan submission
- Closely collaborate with third parties such as appraisers, title, escrow, brokers and legal to ensure an efficient and timely closing
- Identify key risks and mitigants on a Borrower and Asset level during underwriting
- Confirm entity ownership structure and identify Guarantors, Managers/Members and Authorized Signers
- Verify pricing and terms are correct once all data and underwriting is completed
- Follow Company guidelines when performing due diligence on Borrower and Asset
- Update respective documents into LOS and server accordingly
- Ability to handle multiple transactions in the pipeline and execute thorough due diligence
- Pull property profile report to verify ownership and date of subject property and track record
- Assist with other duties and projects as assigned by management
- Other duties as assigned
Qualifications:
- 1-2 years of experience in the business purpose lending space preferred (i.e., familiarity with short-term and long-term financing products)
- Hands on experience reviewing property profile reports, appraisals, title documentation, financial documentation, credit/background reports, rehab budgets, track records and SREO’s
- Experience looking at Operating Agreements, Limited Partnership Agreements and Corporation documentation
- College degree (BA/BS) in Econ/Finance/Real Estate, or related field
- Ability to adapt quickly to new processes and systems
- Valid driver’s license
- Authorized to work in the US
- Must be able to pass a background screening and drug test in accordance with applicable laws
Skills:
- Experienced in excel. No modeling experience required, but a solid understanding of the functions/formulas involved is preferred
- Proficiency in Microsoft Office Suite
- Highly self-motivated and a self-starter
- Exceptional written and verbal communication skills
- Displays strong communication, problem-solving, and time management skills
- Ability to exercise good judgment and solve problems independently
- Desire to contribute in a variety of ways to the overall success of the enterprise
- Strong team player
Base Salary Range: $90,000 – $140,000 depending on experience + annualized bonus (up to 10%)
Reports To: Director West Coast Operations (Located in Irvine, CA)
Benefits:
- 401(k)
- Health Benefits
- Dental
- Vision
- Paid time off
- Sick time off
Schedule:
- Monday through Friday, 80% in office, up to 20% remote
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