Underwriter

Center Street Lending; Irvine (CA); On-site; USD 49,676 - 59,608; Full time

Benefits offered by this job

Paid time off

401(k) plan

Company events and offsite events

Job summary

A large residential lending company in Irvine, CA is seeking an RTL/DSCR Underwriter. The role includes analyzing loan documents, mentoring junior staff, and ensuring loans meet credit standards. Ideal candidates have 3-5 years of experience in underwriting and a solid understanding of real estate lending practices. This full-time position offers competitive hourly pay and benefits including paid time off and a 401(k) plan.

Qualifications

• 3-5 years of recent experience in underwriting business-purpose bridge or construction loans.
• Private/RTL/DSCR lending and real estate background required.
• Detailed knowledge of loan processing, underwriting, and closing procedures.

Responsibilities

• Provide support to the underwriting manager and mentor junior team members.
• Analyze loan documents to determine borrower’s ability to exit the loan.
• Review all loan documents to confirm they meet product and lending guidelines.
• Maintain an accurate active pipeline with knowledge of loan details.

Skills

Underwriting business‑purpose bridge loans

Calculating ROI, DSCR, NOI

Fair lending practices knowledge

Loan processing and closing procedures

Ability to prioritize time−sensitive deadlines

Tools

Microsoft Outlook

Microsoft Excel

Microsoft Word

Encompass

Job description

RTL/DSCR Underwriter

Center Street Lending is one of the largest lenders for residential transition (fix/flip) and ground up loans for residential investors. Since its founding in 2010, Center Street has originated over $6.5 billion of fix/flip, ground-up, bridge and multi‑family loans across 40 states. The company provides expert guidance, fast approvals, speedy funding, and personalized in‑house service that has earned one of the highest customer satisfaction ratings in the industry (4.8/5.0 on Google).

Location: Onsite – Irvine, CA

Pay Range

• $36.06/hr – $43.27/hr

Responsibilities

• Play an integral role within the Credit team, providing direct support to the underwriting manager, mentoring junior team members, and serving as a resource to the Sales Team and other operating departments.
• Analyze loan documents to determine the borrower’s ability to exit the loan, evaluating loan strength through factors such as ROI, DSCR, and After Repair Value.
• Conduct a final integrity analysis to ensure loans meet credit standards, are leverageable, and craft analytical narratives highlighting the operator’s ability to exit.
• Structure loans based on a variety of loan programs, ensuring that any perceived risk is mitigated with clearly stated and identified mitigants.
• Review all loan documents—including appraisal, assets, personal and/or business financials, credit, background, escrow, purchase contract, construction/budget documents, and preliminary title reports—to confirm that acceptance and final loan decisions meet product and lending guidelines before closing.
• Perform hands‑on review of property profile reports, appraisals, title documentation, financial documentation, credit/background reports, rehab budgets, track records, and SREO’s.
• Analyze entity documents, recognize nested entities, and identify the key entities relevant to the loan application.
• Deeply analyze appraisals and secondary valuations, focusing on appropriate value and comparability.
• Take initiative with a clear business mind, maintain a healthy level of skepticism while remaining pro‑deal‑minded, possess a problem‑solving attitude, and collaborate with appropriate parties before, during, and after closing.
• Escalate loan exceptions to management or the Committee Credit for review and final decision when outside lending authority.
• Maintain an accurate active pipeline with knowledge of loan details and act as a team player with all internal and external customers.

Qualifications

• 3‑5 years of recent experience in underwriting business‑purpose bridge or construction loans, in compliance with credit guidelines.
• Private/RTL/DSCR lending and a real estate background required.
• Ability to calculate ROI, DSCR, NOI, debt yield, and leverage ratios such as LTARV and LTC.
• Familiarity with fair lending practices and an understanding of the Fair Credit Reporting Act and lending industry guidelines.
• Detailed knowledge of loan processing, underwriting, and closing procedures; proficiency in Outlook, Excel, and Word (Microsoft).
• Experience with Encompass preferred.
• Expertise in the use of loan underwriting, processing, and management software.
• Ability to prioritize time‑sensitive deadlines.

Seniority level: Mid‑Senior level

Employment type: Full‑time

Job function: Business Development, Finance, and Management

Industries: Real Estate and Financial Services

Compensation and Benefits

• $36.06 – $43.27 hourly
• Paid time off
• 401(k) plan
• Company events and offsite events