Mortgage Underwriter

Toorak Capital Partners

Toorak Capital Partners is a KKR sponsored capital provider and investment manager dedicated to investing in small balance business purpose residential, multifamily and mixed-use loans through the United States and United Kingdom. Toorak has been named New Jersey’s #1 fastest growing company for 2019 and 2020 in NJBIZ’s Fast 50. Headquartered in Summit, New Jersey, Toorak manages all aspects of its investment portfolio using its dedicated internal team, including loan sourcing, pricing, underwriting, acquisition and asset management. Toorak is expanding its national footprint and is launching its second US location in Tampa, FL.

Job: Mortgage Underwriter

Location: Tampa, FL

Roles and Responsibilities

• Underwrite loans in accordance with Toorak guidelines. Responsibilities will include:
• Review and reconcile loan applications to ensure loan meets various program requirements.
• Analysis of loan application, credit profile/report(s), debt and assets, income/financial statements, leverage ratios, appraisal reports, renovation budgets, borrower experience, collateral, and supporting documentation.
• Manage an ongoing pipeline of loans through the Toorak loan buying process
• Report on the status of loans within the pipeline on a regular basis
• Present loans to Credit Committee for exceptions and approvals
• Condition files for missing/supporting documentation according to secondary market and Toorak guidelines
• Order and perform the preliminary review of all third-party reports (i.e. appraisal, appraisal reviews, background reports, inspections, and environmental reports)
• Collect, analyze, and approve all required due diligence
• Perform property and market assessments to evaluate property conditions and market/submarket dynamics
• Communicate and document reasons for approval or rejection of loans so clients and loan officers are well-informed of decisions
• Communicate with originators, counterparties, and vendors effectively and professionally
• Mentor and train junior staff

Qualifications/Job Requirements:

• Bachelor’s degree required
• 1-2 years of mortgage underwriting experience. May consider relevant processing experience.
• Strong preference for experience with commercial and/or business purpose loans (construction, fix & flip, bridge)
• Effective pipeline management skills
• Proven track record of taking ownership and successfully delivering results in a fast-paced, dynamic environment
• Exceptional interpersonal, written, and verbal communication skills
• Proficient in Microsoft Office, especially in Excel and Word

Other

• Must be authorized to work in the US
• Must be available to work in office as required by management