What are the responsibilities and job description for the Underwriter position at TaliMar Financial?
Job Title : Underwriter
Company : TaliMar Financial
Location : Rancho Bernardo (San Diego, CA)
Position Type : Full-Time
Job Summary
TaliMar Financial, a leading private lender specializing in hard money loans for real estate, is seeking an experienced Underwriter to join our dynamic team. As a business purpose lender, we are focused on providing financing solutions to real estate investors and developers who buy, renovate, sell and hold single-family, multi-family and / or commercial real estate.
The Underwriter will play a critical role in evaluating and approving loans, ensuring compliance with company policies, and maintaining the highest standards of risk management. The ideal candidate will possess extensive experience in underwriting and a strong background in private lending. The Underwriter will work closely with Third-party vendors (escrow, title, insurance) and internal team members (Sales, Closer, Management) to ensure that loans are closed as scheduled and in compliance with company guidelines.
Key Responsibilities
- Loan Evaluation : Review and analyze loan files and supporting documentation, including credit reports, financial statements, property appraisals, and other pertinent data to assess borrower eligibility and loan risk.
- Collaboration : Work closely with Loan Officers and Loan Analysts to ensure all required documentation is collected and complete.
- Quality Control : Conduct QC of all transactional documents including but not limited to title commitments, purchase contracts, escrow instructions, deeds, closing statements and other documentation common to purchase and refinance transactions. Review and QC documentation related to Bridge, Fix and Flip and New Construction loans including Budgets, Plans, Permits, Code Violations, etc.
- Approval Process : Issue final underwriting decisions, including approval and internal "clear to close" notifications, ensuring loans meet company guidelines and regulatory requirements for noncomplex loans under a set loan limit. Prepare and submit complete loan files exceeding set loan limit for the Fund Manager's Final Approval. Set Loan Conditions that are needed for the loan to progress into Loan Closing in compliance with underwriting guidelines.
- Closing Coordination : Collaborate with Loan Closers to confirm that all closing documents, such as title reports and insurance, are accurate and complete.
- Risk Management : Ensure adherence to company credit policies and risk tolerance, escalating recommendations for alternative solutions for complex or borderline loan scenarios. Coordinate lien resolution with title and 3rd parties such as city liens, subordinate liens, etc. Review various ratios, percentages and loan metrics; must understand the formulas and how they effect the credit rating of the asset.
- Documentation : Maintain accurate records of underwriting decisions, including justifications for approvals or declines, and ensure compliance with company guidelines and applicable laws and regulations. Familiarity with assignments and double escrows is a plus.
Qualifications
Why Join TaliMar Financial?