Principal Product Manager, Underwriting Specialist, CoStar Debt Solutions

CoStar Group; Boston (MA); On-site; USD 152,000 - 206,000; Full time

Benefits offered by this job

Healthcare benefits

401(k) retirement plan with matching

Tuition reimbursement

On-site fitness center

Job summary

CoStar Group is building a world-class underwriting platform in its Debt Solutions unit. The Principal Product Manager, Underwriting Specialist will own underwriting workflows, default behaviors, and partner relationships with major banks and sponsors.

The role requires deep CRE underwriting expertise, a strong product mindset, and the ability to encode judgment into scalable systems. The position is based in Boston (in-office) with a focus on capital stack construction, rent roll ingestion,

Qualifications

• Deep CRE underwriting domain expertise.
• 8+ years of experience, ideally at a bank with loan book or sponsor/debt fund backgrounds.
• Understanding of how originators, credit officers, asset managers, and sponsors interact.
• Bachelor’s degree from an accredited university.
• Proven track record of commitment to prior employers.

Responsibilities

• Own underwriting workflows across the product surface and turn scenarios into usable product.
• Define default behaviors and where human input is required vs. automated.
• Maintain design-partner relationships with banks and sponsors.
• Decide where platform capabilities sit in relation to workflows.
• Shape the roadmap for underwriting surface across asset classes and client types.

Skills

CRE underwriting domain

8+ years in banking/credit

underwriting workflows understanding

product and engineering collaboration

sequence of decision making with LLMs

Education

Bachelor’s degree

Tools

Schema literacy

Software/system thinking

Job description

Principal Product Manager, Underwriting Specialist, CoStar Debt Solutions

Job Description

Principal Product Manager, Underwriting SpecialistLocation: Boston, in-officeCoStar Group is a leading global provider of commercial and residential real estate information, analytics, and online marketplaces. Included in the S&P 500 Index, CoStar Group is on a mission to digitize the world’s real estate, empowering all people to discover properties, insights and connections that improve their businesses and lives.

We have been living and breathing the world of real estate information and online marketplaces for over 35 years, giving us the perspective to create truly unique and valuable offerings to our customers. We’ve continually refined, transformed and perfected our approach to our business, creating a language that has become standard in our industry, for our customers, and even our competitors. We continue that effort today and are always working to improve and drive innovation. This is how we deliver for our customers, our employees, and investors. By equipping the brightest minds with the best resources available, we provide an invaluable edge in real estate.

CoStar Debt Solutions is building a new platform for CRE underwriting — one where credit officers, data pipelines, and AI agents work against the same shared data model. Banks, sponsors, and asset managers query, write, and collaborate on the same underlying system.

We’re hiring a Principal Product Manager, Underwriting Specialist to help us build a world-class underwriting platform — the workflows, defaults, and decisions that decide whether a credit officer or originator reaches for our product first thing in the morning. In year one, that means turning underwriting scenarios into product: capital stack construction, rent roll injection, peer benchmarking, portfolio surveillance, deal counterparty visibility. In year two and beyond, it means owning the underwriting surface as it expands across asset classes, customer types, and the agent workflows that increasingly run alongside the human ones.

The work starts with hard-won underwriting judgment. It ends with that judgment encoded into a system thousands of underwriters run against.

What you’ll own:

• The underwriting workflows across the product surface — capital stack construction, rent roll ingestion, peer benchmarking, portfolio surveillance, deal counterparty visibility. These exist today as scenarios; the work is turning them into product that originators and credit officers reach for daily.
• The default behaviors that decide whether the platform feels expert or generic — the stack heuristics the LLM proposes, the way variance gets sorted, what the system asks vs. assumes, when it surfaces uncertainty, what stays in front of a human.
• Design-partner relationships at two or three banks and sponsors. You will be on the calls, in the deals, and the person they trust to translate what they need into what gets built.
• The boundary between “the platform can model this” and “the workflow should expose this” — working directly with engineering and product on where the line gets drawn for each new capability.
• The roadmap for the underwriting surface as it grows — new asset classes, new customer profiles, new agent-driven workflows that sit alongside the human ones. You decide what’s on it and in what order.

Basic Qualifications:

• Deep CRE underwriting domain expertise.
• 8 or more years, ideally as a credit officer at a bank with a real loan book. Sponsor-side, life co, or debt fund backgrounds are interesting too if the depth is there. Domain is the highest bar for this role — it’s what we can’t substitute for.
• A working model of how originators, credit officers, asset managers, and sponsors actually spend their days — not just the artifacts they produce, but the friction between them.
• Bachelor’s degree from an accredited, not-for-profit, in person, university or college.
• A track record of commitment to prior employers

Preferred Qualifications:

• Sharp judgment about what’s worth automating, what needs human-in-the-loop, and what should never leave a credit committee.
• A bias for being specific. Generic underwriting opinions are not useful here. We need someone who can say "the LLM should not propose mezz above 12% in this market without flagging it" and be right about it.

What helps a lot:

• Tech fluency. You don’t write production code, but you read a schema, reason about software as a system, and can sit next to engineers and argue with the model when it’s wrong. If you’ve worked closely with product or engineering teams before, that shows up immediately in this role.
• Product sensibility. An instinct for what belongs in a default, what belongs in a setting, what belongs in a warning, and what belongs nowhere at all. Underwriters who have shipped tools — internal or otherwise — tend to have it.
• Comfort with LLM-driven workflows. You don’t need to have built with them. You do need to find the question of “what should the model decide vs. ask vs. flag” genuinely interesting.

What’s unusual about this role:

You will not be the underwriter of record on anything. You will be the person who decides what the platform knows and does on behalf of every underwriter who uses it. That is a different job — more leverage, more abstraction, and more responsibility for the second-order effects of the workflows you ship. People who want to keep doing deals will be unhappy here. People who want their judgment encoded into a system that thousands of other underwriters will run against will be in the right place.

WHAT’S IN IT FOR YOU?

When you join CoStar Group, you’ll experience a collaborative and innovative culture working alongside the best and brightest to empower our people and customers to succeed.

We offer you generous compensation and performance-based incentives. CoStar Group also invests in your professional and academic growth with internal training, and tuition reimbursement.

Our benefits package includes (but is not limited to):

• Comprehensive healthcare coverage: Medical / Vision / Dental / Prescription Drug
• Life, legal, and supplementary insurance
• Virtual and in person mental health counseling services for individuals and family
• Commuter and parking benefits
• 401(K) retirement plan with matching contributions
• Employee stock purchase plan
• Paid time off
• Tuition reimbursement
• On-site fitness center and/or reimbursed fitness center membership costs (location dependent), with yoga studio, Pelotons, personal training, group exercise classes
• Access to CoStar Group’s Employee Resource Groups
• Complimentary gourmet coffee, tea, hot chocolate, fresh fruit, and other healthy snacks

The final salary or hourly rate offered for this role will fall within the range set forth below based on a variety of factors, including but not limited to, geographic location, skills, and competencies.

Base Compensation: $152,000- $206,000, Annually

CoStar Group is an Equal Employment Opportunity Employer; we maintain a drug-free workplace and perform pre-employment substance abuse testing