Construction Underwriter II
About The Position
ABOUT PARK PLACE FINANCE 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. But what truly sets us apart is how we do it.. You’ll find a team that rallies together, celebrates wins, and keeps raising the bar. With a focus on health, wealth, and professional development, we’re not just funding deals — we’re building careers & long-lasting relationships. POSITION OVERVIEW We are looking for a detail-oriented, analytical Construction Underwriter II to join our operations team. This individual will play a key role in the evolution of our Multi-Family and Mixed-Use construction department. The candidate for this role should have a minimum of 3 years experience in the direct underwriting and credit analysis for construction lending. A Bachelor’s degree in Finance, Urban Development, Construction Management, Civil Engineering, or Risk Management is a plus. Evaluation of pro formas, construction budgets, and stabilization NOI (Net Operating Income) projections. Analysis of multi-layered risk based on audited financials, net worth, liquidity, portfolio performance, project feasibility cash-flow and debt coverage will be required. Our full suite of Business Purpose Loans also includes Residential Transitional Loans (RTL), DSCR (non-consumer), Bridge, Ground-Up Construction, and Portfolio products. Responsibilities will include analysis of multi-layered risk based on audited financials, net worth, liquidity, portfolio performance, project feasibility, cash-flow, and debt coverage. Assessment of collateral using both cost and income approaches along with complex entity structures, and construction team evaluation (license, bonding, insurance compliance, plans, permits, construction contract - GMP or fixed-price preferred).
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
- 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
Benefits
- Competitive Compensation Package
- 100% Company-Paid Health Insurance (Medical, Dental & Vision)
- Retirement Plan with 4% Company Match
- Entrepreneurial Culture with a Focus on Growth & Excellence
- Opportunities to Expand Skillset Across Multiple Loan Products
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Number of Employees
51-100 employees
