Asset Underwriter

Location: California

2023 Genesis Capital, LLC. All rights reserved. Genesis Capital, LLC (“Lender”) and its affiliates (collectively, “Genesis Capital”) originates business purpose loans. Loans are for business purposes only and not for personal, family, or household use. This does not constitute a commitment to lend. All loans must satisfy Lender’s underwriting guidelines and due diligence.

Loan amounts, interest rates and costs presented are for informational purposes only and are subject to change without notice and at Lender’s discretion until such time a definitive agreement is duly executed by Lender and Borrower (and any other applicable parties). Other conditions may apply. Genesis Capital (NMLS  # 1454907), and certain employees, perform acts for which a license is required;

see  for details.(the “Company”) is one of the largest business purpose lenders in the country, focused on providing commercial real estate financing solutions to real estate developers who buy, renovate, and sell single-family and/or multi-family residential real estate. The Company is a subsidiary of Rithm Capital (parent company), a publicly traded mortgage real estate investment trust.

Under the direction of the SVP, Senior Credit Risk Manager, the Asset Underwriter will coordinate with Loan Processor(s), Sales Support Specialist(s), Risk, Legal and the Construction Department to ensure a complete loan file has been received to proceed with the underwriting of the collateral/asset file. The Underwriter will present the underwriting findings to Management to proceed with loan decision.# Principal Duties:
** ESSENTIAL FUNCTIONS
** include the following. Other duties may be assigned.
* Review preliminary Title reports for any encumbrance that would affect Genesis 1st lien priority .
* Review Title report exceptions to determine which ones are acceptable/not acceptable to remain on title post-closing.
* Determine the proper Title endorsements depending on the property location and loan characteristics, i.e., survey, loss of priority, or date down endorsements.
* Review purchase transaction documents for accuracy and discrepancies. This includes contracts/addendums/assignments/double escrow/1031 exchange/auctions, etc.
* Review proof of insurance certificates for accuracy, determine appropriate policy type and coverage amount.
* Review final loan structure reflected on loan page matches intended structure from lending team.
* Understand how to calculate and review loan metrics are within guidelines.
* Review plans, permits, rehab budget, and reconciliation of costs spent to date.
* Review appraisal , Land, Commercial, or desk review) for completeness and conformity with USPAP and FIRREA guidelines.
* Review values and determine if sufficient to move forward with initial structuring and loan approval.
* Review special conditions required prior to docs or prior to funding.
* Ensure collateral/asset file meets Genesis and senior investor loan guidelines.
* Escalate issues as needed for review and second approval.
* Update internal management tracking system daily.
* Determine Prior to Doc, Prior to Funding and Post Close conditions.#

Education and Experience To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
* High school diploma or equivalent, required.
* Bachelor's degree, preferred.
* Minimum 4 + years real estate loan underwriting or related experience.
* Private money and construction lending experience a plus.
* Solid understanding of processing with regards to underwriting and funding process.
* Proficient in MS Word and Excel.
* Strong interpersonal and communication skills with exceptional follow-through abilities.
* Excellent verbal and written communication skills.# Knowledge, Skills, and Abilities
* Self-motivated with strong desire to succeed.
* Detail oriented and organized with ability to multi-task.
* Ability to think subjectively and determine a logical solution.
* Strong customer…