DSCR/Non-QM Underwriter - Brick City Capital

Leverage Companies • Newark, NJ

42d • $80,000 - $130,000 • Hybrid

About The Position

We are seeking a detail-oriented DSCR Real Estate Loan Underwriter to scale our underwriting function. This role involves reviewing new loan files, issuing underwriting conditions, coordinating with third-party reviewers, and assisting in post-close conditions for loan sales. The ideal candidate will have strong analytical skills, a keen eye for risk assessment, and a continuous improvement mindset to enhance underwriting and loan processing efficiency.

Requirements

• An individual who resides in the state of NJ, NY, CT, CA, FL, AZ, TX, or IN.
• Bachelor's degree in finance, real estate, business, or a related field (or equivalent experience).
• 1-3 years of experience in real estate underwriting or private lending.
• Strong knowledge of investment property lending and loan structuring.
• Ability to analyze risk factors and apply lending guidelines effectively.
• Strong documentation review skills with the ability to spot discrepancies and ensure compliance.
• Excellent attention to detail, organizational, and communication skills.
• Tech-savvy, with the ability to learn and navigate multiple systems.
• Knowledge of real estate market trends and investment financing.

Nice To Haves

• 3+ years of experience in real estate underwriting or private lending.
• Experience in DSCR loans.
• Experience working with private lenders or note buyers.

Responsibilities

• Underwrite new loan files and issue underwriting conditions based on loan requirements
• Review borrower and property-related documentation to ensure compliance with lending guidelines
• Clear pre-close conditions in collaboration with third-party reviewers
• Assist in post-close requirements to satisfy note buyer conditions for loan sales
• Maintain underwriting SLA within 1 business day
• Identify areas for improvement in underwriting and loan processing procedures
• Work closely with internal teams to enhance efficiency and streamline workflows
• Ensure LOS (loan operating system) accuracy with deal economics and figures
• Coordinate with internal teams and third-party stakeholders to facilitate smooth loan transactions
• Maintain clear documentation and communication regarding loan conditions and underwriting decisions
• Create credit memos for the investment committee to review for more complex files that require escalated reviews
• Assemble, underwrite, and delivery full packages, coordinating with Brick City Capital sales, processing, capital markets, and closing teams
• Exert creativeness to underwrite - full ownership of the underwriting process allows maximum flexibility to creatively underwrite in accordance to Brick City Capital's guidelines

Benefits

• A company culture that you can actually enjoy being immersed in
• Direct access to executive leadership and strategic decision-making
• Opportunity to grab destiny by its horns and to create your own path
• Fast-paced, mission-driven environment with serious growth opportunity
• A team that values integrity, entrepreneurial spirit, overall excellence, accountability, and ownership

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree