Builders Capital is seeking a highly skilled and experienced Underwriter to join our new Permanent Financing Division. This position will focus on DSCR (Debt Service Coverage Ratio) loans, assessing the risk, creditworthiness, and financial viability of loan applicants to ensure that all loans meet continuously refined underwriting guidelines and industry standards. The ideal candidate will possess strong analytical skills, attention to detail, and a deep understanding of loan structuring and risk management. You will work closely with sales teams and transaction coordinators to provide timely, accurate loan decisions that align with Builders Capital's commitment to excellence and innovation in lending.
Builders Capital is the nation's largest private construction lender, offering innovative financing solutions to a wide spectrum of developers and homebuilders. Loan products include options for Acquisition, Development, Construction, and Bridge financing, in the form of single-asset loans, portfolio loans, and revolving credit facilities. In addition to financing opportunities, Builders Capital borrowers can leverage national accounts for material purchase discounts, and access cutting-edge technology for project management, accounting, and BIM technology tools. Builders Capital is headquartered in Puyallup, Washington, with regional sales offices across the country.
ESSENTIAL FUNCTIONS:
- Perform in-depth analysis on business purpose DSCR loan applications, evaluating both the financial viability of the borrowing entity and the qualifications of the personal guarantor. Assess property cash flow, rental income, operating expenses, market trends, and other relevant factors to determine the overall risk and ability to repay.
- Review and analyze all required documentation, including the loan application, borrowing entity documentation (such as operating agreements and financial statements) and personal guarantor documents (such as credit reports, background checks, identification, and financial statements). Ensure all information aligns with underwriting guidelines for business purpose loans.
- Verify that all loans comply with internal policies, state and federal regulations, and industry guidelines. Confirm that DSCR criteria, property types, borrowing entity structures, and credit standards are met. Make informed decisions to approve or decline loan applications, issuing conditional approvals and requesting additional documentation as necessary.
- Work closely with transaction coordinators, sales teams, and brokers to facilitate the timely collection and submission of required documents from both the borrowing entity and personal guarantors. Communicate loan conditions clearly to ensure efficient loan processing.
- Maintain comprehensive records of all underwriting decisions and conditions, including detailed analysis of both the borrowing entity and personal guarantor qualifications, to ensure compliance and audit readiness.
- Provide expert guidance on structuring business purpose loans to balance risk and opportunity, considering the risk profile of the borrowing entity & guarantors, market conditions, and borrower needs.
- Stay informed about relevant market trends, industry developments, and regulatory updates that impact business purpose loans and DSCR underwriting practices.
- Engage in ongoing process improvement efforts, contributing to the development of more efficient underwriting workflows and best practices tailored to business purpose loans.
QUALIFICATIONS:
- Associate degree in finance, business, or a related field required; Bachelor’s degree preferred.
- Minimum of 2 years of experience in underwriting, with business purpose loans, specifically DSCR loans or real estate investment loans preferred.
- Deep knowledge of loan structuring, risk assessment, and mitigation strategies for business purpose loans, including a solid understanding of DSCR calculations, rental income analysis, and market trend evaluation.
- Proven ability to manage a high volume of complex loan files while maintaining accuracy, attention to detail, and meeting strict deadlines.
- Excellent analytical skills, with a track record of making sound underwriting decisions based on comprehensive risk assessment and credit analysis.
- Strong communication and interpersonal skills to effectively collaborate with internal and external stakeholders, ensuring clear and timely communication of loan conditions and requirements.
- Highly organized and detail-oriented, with the ability to thrive in a fast-paced, dynamic environment.
- Commitment to maintaining the highest standards of integrity, confidentiality, and regulatory compliance.
- Proactive approach to identifying opportunities for process improvement and contributing to innovative underwriting practices.
BENEFITS:
- Health insurance – Builders Capital pays 100% of employee Medical insurance premiums
- Competitive wages
- Paid time off – 3 weeks a year
- Paid holidays – 10 paid holidays
- Health Savings Account (HSA) – Builders Capital contributes $750.00 annually pro-rated from your start date into your account.
This job posting highlights the most critical responsibilities and requirements of the job; however, there may be additional duties, responsibilities, and qualifications for this job.
Construction Loan Services II LLC (Builders Capital) and its affiliates are Equal Employment Opportunity (EEO) employers and welcome all qualified applicants. This is a full-time, exempt position. The job description contained herein is not intended to be a comprehensive list of the duties and responsibilities of the position, which may change without notice.