Construction Underwriter II | Hard Money

Park Place Finance, LLC

About The Position

Park Place Finance is a fast-growing, nationwide private lender specializing in non-owner-occupied residential fix-and-flips, ground-up construction, and DSCR loans. The company prides itself on a collaborative team environment that celebrates wins and focuses on health, wealth, and professional development, aiming to build careers and long-lasting relationships. They are seeking a detail-oriented, analytical Construction Underwriter II to join their operations team, playing a key role in the evolution of their Multi-Family and Mixed-Use construction department. The ideal candidate should have a minimum of 3 years of experience in direct underwriting and credit analysis for construction lending. The role involves the evaluation of pro formas, construction budgets, and stabilization NOI (Net Operating Income) projections. It requires analysis of multi-layered risk based on audited financials, net worth, liquidity, portfolio performance, project feasibility, cash-flow, and debt coverage. Additionally, the position includes assessment of collateral using both cost and income approaches, analysis of complex entity structures, and evaluation of the construction team (license, bonding, insurance compliance, plans, permits, construction contract - GMP or fixed-price preferred). Park Place Finance's full suite of Business Purpose Loans includes Residential Transitional Loans (RTL), DSCR (non-consumer), Bridge, Ground-Up Construction, and Portfolio products.

Requirements

3+ years of underwriting experience in Multi-Unit and Multi-use residential construction.
Familiarity with entity structures (LLCs, Corporations, Trusts).
Strong analytical, critical thinking, and problem-solving abilities.
High attention to detail and a risk-management mindset.
Excellent written and verbal communication skills.
Ability to work independently in a deadline-driven, high-volume environment.

Nice To Haves

A Bachelor’s degree in Finance, Urban Development, Construction Management, Civil Engineering, or Risk Management is a plus.
Experience with Loan Origination Systems (e.g., LendingWise, Encompass, Salesforce, or custom LOS platforms).
Experience working with brokers and investor guidelines.

Responsibilities

Perform complete risk assessments (borrower, market, collateral, and construction).
Prepare comprehensive credit memos summarizing all findings.
Recommend loan structure to mitigate identified risks.
Coordinate third-party reports (appraisal, environmental, cost review).
Underwrite Bridge, Renovation, Ground-Up Construction, and DSCR loans in accordance with company guidelines and investor overlays, as needed.
Analyze construction budgets, scopes of work, and project timelines to ensure feasibility of projects.
Maintain clear, actionable documentation supporting all underwriting decisions.
Apply judgment on exceptions and propose well-supported decisions for approval, counteroffer, or decline.
Partner with originators, processors, and leadership to ensure smooth file flow and pipeline efficiency.
Communicate proactively to resolve conditions, meet deadlines, and accelerate closing timelines