We are a fast-growing specialty mortgage lender seeking an Underwriter to join our Lending and Loan Servicing Department at Tailor Ridge Capital Management, LLC. This role presents an excellent opportunity for a motivated individual to gain in-depth knowledge of our industry and to work collaboratively with our team and customers. The Underwriter will play a vital role in the credit, underwriting, and construction draw disbursement functions that support our growing portfolio of short-term commercial real estate mortgages.
We offer potential for growth, competitive compensation and benefits, as well as a flexible, hybrid work environment.
Key Responsibilities
- Underwrite commercial real estate loan requests, including fix-and-flip, ground-up construction, bridge, and value-add transactions, from initial submission through approval and closing.
- Analyze borrower financials, experience, and entity structures to assess overall creditworthiness.
- Evaluate property-level economics, including as-is and as-completed valuations, comparable sales, rental comps, market velocity, exit strategy, and feasibility of construction budgets.
- Prepare detailed credit memos and Interest Coverage (IC) packages for review by senior leadership and the investment committee.
- Review third-party reports, including appraisals, feasibility studies, environmental reports, title commitments, and property condition assessments.
- Process construction draw disbursement requests by reviewing inspection reports, lien waivers, invoices, photo documentation, and budget reconciliations to ensure accurate project tracking and funding.
- Coordinate with borrowers, inspectors, and title companies to verify draw progress and resolve discrepancies in a timely manner.
- Maintain and update loan files, underwriting workbooks, and pipeline records in The Mortgage Office (TMO), Salesforce, and related systems.
- Monitor active construction loans for budget overruns, schedule slippage, and risk indicators, escalating issues to the portfolio team as needed.
- Support borrower extensions, modifications, and payoffs by reviewing updated financials, project status, and exit feasibility.
Qualifications and Requirements
- Experience in finance, real estate, accounting, business, or a related field.
- Experience in commercial real estate underwriting, construction lending, credit analysis, or loan servicing.
- Working knowledge or ability to learn construction draw processes, and budgets.
- Strong analytical skills with the ability to work independently and follow through with tasks.
- Excellent organizational skills and meticulous attention to detail.
- Ability to manage multiple loan files and prioritize assignments effectively in a fast-paced environment.
- Excellent written and verbal communication skills, with comfort communicating with borrowers, brokers, contractors, and small to mid-sized business clients via phone or email regarding underwriting conditions, draw requests, and other inquiries.
- Proficiency in desktop software applications, including Microsoft Excel, with intermediate-level expertise preferred. Experience with The Mortgage Office (TMO), Salesforce, or similar loan origination/servicing platforms is a plus.
Pay: $60,243.29 - $72,551.05 per year
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Paid time off
Work Location: Hybrid remote in Plymouth, MA 02360
