Professional, ABF IMS Credit and Valuations Associate

Professional, ABF IMS Credit and Valuations Associate

Dallas, Texas, United States

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds.

KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries.

K-Star is seeking a detail-oriented and analytically rigorous Credit & Valuations Associate to join our residential mortgage whole loan acquisition team. In this dual-function role, you will serve as a key contributor to both the valuation and credit review processes that underpin our secondary market acquisition strategy. The ideal candidate brings deep experience in residential appraisal review and mortgage credit underwriting, with the ability to develop scalable processes and serve as a subject matter expert for the broader team.

The role is based in Dallas and collaborates regularly with the deal team at KKR.

We are passionate about operational excellence and providing our investment and business operations colleagues the ability to seamlessly execute liquid and private credit investments around the globe. We are committed to continuous improvement, both in the operations we perform and in the environment in which we work. We work in collaborative teams within the context and support of a large, global investment firm.

We can offer challenging and rewarding work and opportunities for career advancement and learning in both the business and operational spheres.

• Perform detailed appraisal reviews on residential mortgage loans, evaluating for accuracy, reasonableness, current market trends, and overall property condition
• Develop a tiered process flow for utilizing third-party valuation tools (AVMs, BPOs, desktop appraisals) to support and corroborate review conclusions
• Provide clear, well-documented review commentary and actionable recommendations to support acquisition decisions
• Create and implement a systemic procedure for the continued review of supplemental valuations obtained by loan servicing to ensure ongoing accuracy and compliance
• Serve as the primary knowledge source on the team for all appraisal-related activity, market dynamics, and evolving industry standards
• Review originator underwriting guidelines for variations across counter parties and collaborate with third-party vendors to create a consolidated framework that highlights key differences across guidelines
• Maintain current and historical versions of originator underwriting guidelines, and track the specific guideline version under which individual loans were originated
• Monitor and analyze trends across underwriting guidelines to proactively identify shifts in market standards and lending practices
• Aid in reviewing credit diligence results, identifying compensating factors, and documenting exceptions for new loan acquisitions

• Minimum of a Bachelor's degree
• Strong working knowledge of residential appraisal methodologies, including the cost, sales comparison, and income approaches to value
• Demonstrated experience reviewing Uniform Residential Appraisal Reports (URARs), Broker Price Opinions (BPOs), and Automated Valuation Models (AVMs)
• Thorough understanding of evolving appraisal regulations (USPAP, Dodd-Frank, GSE requirements) and secondary market valuation trends
• Deep understanding of residential mortgage credit underwriting standards and key performance metrics (DTI, LTV, FICO, reserves, etc.)
• Familiarity with conventional, business purpose (DSCR, fix-and-flip), and non-QM lending requirements and their respective risk profiles
• Hands-on experience in secondary market operations, post-close quality control,…