Benefits

Job Description

Location: Role is based in New York, NY or Irvine, California

CoreVest is the leading private lender to residential real estate investors nationwide. We provide long-term loans for rental properties and short-term financing for acquisitions and fix/flip projects. The Senior Associate will work in a fast-paced work environment, work closely with clients, internal teams and various third parties involved in financing transactions in order to properly verify the information provided by the borrower team and underwrite a transaction.

Essential Functions and Responsibilities: Include the following but not limited to, other duties may be assigned.

Support underwriting efforts for commercial real estate construction loans, bridge loans and lines of credit for the purpose of acquiring, developing, repositioning, and financing Residential Commercial Real Estate assets and portfolios secured by multifamily, residential condominium and mixed-use projects
Communicate with clients on an ongoing basis, coordinating calls with clients, providing access to sales force platform, and being the point of contact on data collection through the life cycle of the loan underwriting process
Interface with clients during the underwriting and due diligence period to collect information, discuss and understand their business plan
Collect underwriting due diligence material on guarantor, borrower and property level information maintaining loan file up to date in Salesforce and BOX, and deliver completed due diligence loan file to UW once complete
Review financial statements and Income Tax returns as collected for completeness and escalating any red flags early in the process.
Lead training sessions for junior underwriters and associates, ensuring consistent application of underwriting standards and best practices.
Regularly review and provide recommendations to underwriting guidelines to reflect market trends, regulatory changes, and company strategy.
Oversee and approve term sheets, ensuring alignment with company policy, market conditions, and client needs.
Regularly communicate status updates to underwriting team and originators as appropriate
Analyze and evaluate complex ownership borrower structures relative to legal and financial responsibilities and obligations, and assist in order appropriate background and legal searches to fulfill KYC/AML requirements
Coordinate the order of and the collection of reports prepared by third party consultants and regularly communicate status and delivery of reports to underwriting team
Prepare and review Investment Committee memoranda
Ability to review and critique investment committee memos, ensuring thorough analysis and clarity
Present underwriting recommendations and risk assessments to the executive team, offering clear justification for decisions.
Stay informed on market trends and economic factors that may impact multifamily lending and adjust underwriting strategies accordingly.
Potential opportunity to manage team members, at manager’s discretion. Limited to management of one person.
Work closely with closing and related third parties for timely closing of the transaction
Strong organizational and time management skills—ability to successfully work on several transactions concurrently in a fast-paced, team-oriented deal environment
Exercise discretion, independent judgement and problem-solving abilities to complete work assignments while displaying a high degree of initiative and accuracy
Demonstrated ability to organize & prioritize projects, complete multiple tasks on schedule
Ability to work productively under minimal supervision
Perform other related duties and special ad hoc projects

Minimum Requirements: The responsibilities listed below are required. Accommodations may be made to enable the individual with disabilities to ensure the individual can perform the essential functions and responsibilities.

Minimum of 4-6 years’ experience in commercial lending – single family rental, multifamily, bridge, ground up and/or new construction lending.
Some experience in real estate, commercial lending, finance, or a related field
Superior attention to detail, analytical and organizational skills
Excellent Word, PowerPoint and Excel skills
Strong written and verbal communication skills
Ability to multitask and perform in a fast-paced work environment
Daily phone and email interaction with customers and third-party vendors is required

A reasonable estimate of the base compensation range for this role is $120k - 140k annually. The actual salary offer to the successful candidate will be based on job-related education, geographic location, training, licensure and certification, and other factors. Our company also offers a competitive benefit package including discretionary corporate bonus program, multiple health plans, STD and LTD options, company sponsored life insurance, fitness reimbursement, paid parental leave, time to volunteer, Paid Time off, ESPP, and 401K matching.

At Redwood Trust, we are committed to fostering an inclusive workplace where diversity is valued, and everyone has the opportunity to thrive. We welcome applications from individuals of all backgrounds and experiences. We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

Underwriting

Due Diligence

Financial Analysis

Asset Management

Capital Markets

Risk Management

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