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Underwriter : Product Incubator

LendingHome

Pittsburgh, PA, US
  • Job Type: Full-Time
  • Function: Accounting/Finance
  • Industry: Consumer
  • Post Date: 05/02/2021
  • Website: lendinghome.com
  • Company Address: LendingHome Corporation 201 Post St. Floor 12, San Francisco, CA, 94108

About LendingHome

LendingHome's built-from-scratch technology simplifies every stage of the loan process, ensuring easy financing for both novice and experienced real estate investors.

Job Description

LendingHome supports real estate investors by offering the opportunity to build successful businesses through a simplified loan process. Our competitive product, innovative technology, and experienced team are changing the way real estate investors receive funding for their fix-and-flip and rental properties, transforming the experience from end to end.


The Team

With our built-from-scratch technology that covers every stage of the loan process, LendingHome has opened access and simplified a way for real estate investors—both novice and experienced—to get financing, generate wealth, and build businesses. Since founded in 2013, we have funded over $6 billion dollars worth of loans across about 30,000+ projects, becoming the nation's largest hard money lender. Combining the best technology and the most knowledgeable people, LendingHome has grown to a team of over 300 and has won many awards over the years including Forbes Fintech 50, Finovate Awards: Best Digital Mortgage Platform, Fast Company’s Most Innovative Companies, and many more. LendingHome is uniquely positioned to become the next great financial services brand powered by the most advanced mortgage platform in the world.

Loans funded: More than $6 billion in fewer than 6 years
Market Share: Increased from ~2.5% in Q1 2020 to over 5.5% in Q3 2020.
Equity raised: $285MM to-date, including $75 million raised in Series E from Benefit Street Partners in December 2020.
Financial Impact: Since April 2020, LendingHome has been profitable every month, a rarity for a fast growing fintech company.
Geography: Lending in 26 states, which account for more than 80% of the nation’s real estate market
Homes financed: About 30,000
Principal and interest returned to investors: More than $5.18 billion
Employees: About 300 employees in San Francisco and Pittsburgh

This is a position that can be based anywhere in the United States, remote or in-office. Our hybrid distributed workforce philosophy allows us to find the best talent in the country and build diverse teams, while allowing our teammates to work from the location that works best for them, whether that is their home office or one of our office locations. We have offices in San Francisco, CA and Pittsburgh, PA for those of you that live local and want to work from the office. We also plan to use these spaces to bring together teammates and drive creativity and innovation.

The Role

With innovation, simple & scalable efforts, and customer service at our core, the Underwriting team at LendingHome works cross functionally with other departments to change the landscape of the mortgage industry.  This particular role will be a critical component of a New team within the org where we will be working on new products before they are fully launched and supported by the proprietary technology - the New Product Incubator team.  This small team will consist of a few other cross functional roles and will be very visible in the org as new products are developed.  

The team is responsible for using their critical thinking skills to work through customer challenges and their collective effort is integral in shaping a positive loan experience for all stakeholders. The team works together to find a way to win and adapts to new changes quickly. We’re a fast growing company and are looking for people who have a desire to grow, learn and accelerate their career. 

As an integral part of the New Product Incubator and Operations teams, you will underwrite the loan and get it ready for decisioning and closing and funding, working with third parties, sales, borrowers and mortgage brokers to create a smooth and simple process for getting a loan.  Key to this new role will also be thinking critically and helping to define the best way to underwrite  these new loan products, both from an internal experience and a customer experience. 

Responsibilities

  • Underwrite new loan types including bridge and portfolio term mortgage loans in compliance with company credit guidelines and regulatory requirements
  • Review loan files for completeness, identify missing documentation and generate condition lists for the applicants
  • Collaborate with the loan processor and salesperson to complete the credit analysis in a timely manner
  • Ensure that the correct data is compiled
  • Responsible for reviewing and owning all loan file details prior to submission to closing manager including work done by all upstream partners
  • Work with loan processors and closers to ensure a smooth hand-off of the files occurs
  • Manage constant deal flow and prioritize to ensure loans close on time with a high degree of accuracy in a deadline-oriented environment
  • Identify and report any suspected fraudulent activity occurring with any stakeholder and escalate issues to the appropriate management when necessary
  • Keep abreast of all company policies and procedures as well as federal and state regulatory changes by participating in in-house training events

Qualifications

  • Education: Bachelor’s Degree or relative experience
  • Experience: 3 years residential and/or commercial mortgage lending experience with good knowledge of lending regulations and credit/collateral analysis practices; underwriting or processing fix & flip hard money loans and commercial real estate loans a plus
  • Skills/Ability: Strong written and verbal communication skills; must be able to adapt well to a fast-paced and constantly changing business environment; PC proficient at the intermediate level; comfortable with new technology systems and paperless environment, demonstrated the ability to work in a team-oriented environment; demonstrated ability to provide good customer service

LendingHome in the News


 Benefits and Perks 

  • Career Growth: We foster an environment that encourages opportunities to use your voice, make an impact, and move towards your long-term goals.
  • Lunch & Snacks: Hungry? We have you covered! Enjoy catered lunches and Bagel Wednesdays—and don't forget to take your pick of healthy snacks and drinks daily from our fully stocked kitchen.
  • Work-life Balance: With our flexible time off policy, you can enjoy a well-rounded lifestyle while easily balancing work, travel, loved ones, and passions.
  • Family Matters: We know your role here might not be the only one you have. Enjoy your job as a parent and welcoming your new bundle of joy with our competitive parental leave policy.
  • Commuter Benefits: Travel from A to B without the stress. We help you save money on your commute to work with pre-tax deductions and a monthly stipend.
  • Product Ownership: We recognize your hand in making our business great. With offered equity, you can claim your stake in our growth.
  • Health Insurance: Your well-being is important to us. Our comprehensive medical, dental, and vision plans ensure that your mind and body are in good keeping.

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