Credit Underwriter (Commercial Real Estate)

Genesis Capital LLC; Scottsdale (AZ); On-site; USD 70,000 - 90,000; Full time

Job summary

Genesis Capital LLC in Scottsdale, Arizona is seeking a Credit Underwriter to evaluate lending opportunities and analyze the creditworthiness of borrowers. This role involves managing multiple projects, preparing credit memorandums, and conducting financial analyses on real estate investments. The ideal candidate needs a bachelor's degree and at least 3 years of relevant experience in commercial real estate or private lending. Strong proficiency in Excel and excellent communication skills are essential. Genesis Capital offers a diverse work environment.

Qualifications

• Minimum 3+ years in Commercial Real Estate banking or private real estate lending.
• Experience in construction lending is a plus.
• Knowledge of credit underwriting policies and procedures.

Responsibilities

• Evaluate new lending opportunities and perform credit analysis.
• Prepare credit memorandums outlining lending opportunities and risks.
• Conduct market analyses and review real estate appraisals.

Skills

Underwriting experience

Credit analysis

Financial modeling

Communication skills

Education

Bachelor's degree

Tools

Excel

Word

PowerPoint

Job description

Genesis Capital (the “Company”) is one of the largest business purpose lenders in the country, focused on providing commercial real estate financing solutions to real estate developers who buy, renovate, and sell single-family and/or multi-family residential real estate. The Company is a subsidiary of Rithm Capital (parent company), a publicly traded mortgage real estate investment trust.

The Credit Underwriter is responsible for evaluating new lending opportunities and performing comprehensive analysis to determine the creditworthiness of the borrower. The Credit Underwriter will evaluate the underlying project (collateral) as well as perform a financial analysis of the borrower and guarantor(s). The Credit Underwriter is responsible for managing multiple underwriting projects/tasks simultaneously, including direct borrower interaction, preparation of credit memorandums, and market analysis. The Credit Underwriter’s job is to ensure Genesis Capital maintains strong credit quality in line with its policies and procedures.

ESSENTIAL FUNCTIONS

include the following. Other duties may be assigned.

• The Credit Underwriter’s key responsibility is to assess risk in the borrower’s business strategy/experience and their real estate projects/investments.
• Prepare credit memorandums outlining the lending opportunity, key risks, mitigating factors, project/borrower/guarantor analysis, and credit advocacy.
• Perform credit analysis evaluating the applicant’s credit worthiness, financial strength, and loan repayment likelihood/capacity.
• Conduct market analyses and review real estate appraisals.
• Works with Loan Officers and Relationship Managers to obtain all required due diligence items.
• Work with all Genesis departments including sales, loan operations, valuations, accounting, construction, and other support staff.
• Present credit memorandums to Credit Management for review and approval.
• Analyzes legal documentation such as corporate entity documents to understand borrower structure and works with Compliance for AML/KYC. Loan documents may also need to be reviewed.

Education and Experience

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Must have bachelor’s degree.
• Minimum 3+ years in Commercial Real Estate banking or private real estate lending, in the form of underwriting, credit analysis or related experience.
• Experience in construction lending is a plus.
• Knowledge of complex real estate lending and loan structuring.
• Industry knowledge of credit and financial analysis fundamentals, including cash flow analysis, balance sheet analysis, tax returns, profitability, liquidity, solvency analysis and real estate valuation.
• Financial modeling techniques and preparation of pro-forma financial statements and NOI/DSCR analysis.
• Knowledge of credit underwriting policies, procedures, processes, collateral valuation, and documentation.
• Highly Proficient/Advanced in Excel, Word, PowerPoint, and database applications for pipeline management.

Knowledge, Skills, and Abilities

• Rely on strong underwriting experience and judgment to make decisions, read and interpret data from a micro and macro perspective.
• Ability to consolidate information from many sources to identify risks, conduct analysis and articulate a concise recommendation Ability to identify potential credit issues and appropriately upscale to management.
• Ability to manage multiple tasks concurrently and prioritize workload to meet deadlines
• Ability to identify potential credit issues and appropriately upscale to management.
• Adapts to change in priorities and/or processes easily in a fast-paced work environment.
• Excellent interpersonal, negotiation, presentation, oral, and written communication skills.

We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.