Backflip
Reinvigorating neighborhoods by supporting real estate entrepreneurs with innovative technology and capital.
fintech • proptech • software • capital markets • platforms
11 - 50
Loan Underwriter
July 24
🏡 Remote – New York
Backflip
Reinvigorating neighborhoods by supporting real estate entrepreneurs with innovative technology and capital.
fintech • proptech • software • capital markets • platforms
11 - 50
Description
• Underwrite short-term investment loans, analyzing real estate investment strategies • Review and approve title documents (Title Commitment, Tax Certificate, HOA Documents, etc.) in accordance with Backflip’s Credit Policy; including advising which endorsements are needed and which exceptions will need to be removed • Review and approve entity documents (Operating Agreements, Articles of Incorporation, EIN, etc.); including establishing signing authority and validating the entity is in good standing • Review and approve assets, credit, and background checks • Review and approve appraisals (both full 1004 and evaluations) along with rehab budgets to determine acceptability of the property and project • Review and approve insurance documents (dwelling coverage, flood coverage, builder’s risk, etc.) • Review and approve executed closing documents • Complete loan file initial reviews, final reviews, and quality control reviews while meeting or exceeding established SLAs
Requirements
• 3+ years of mortgage underwriting experience, including short-term bridge loans or construction loans for LLC/corporate borrowers • Expert knowledge of title commitments, underwriting assets, credit/insurance documents, and LLC structures • Experience analyzing rehab projects or construction loans • Experience in appraisal and collateral underwriting a plus • Prior closing document review or closing experience a plus • Prior experience in a FinTech company or startup environment a plus • Excellent multi-tasking, time management, prioritization, attentional to detail, and computer skills (we use Slack, Notion, Google Workspace, Front, HubSpot, and more) • Strong verbal and written communication with urgency and adaptability to various audiences • Self-motivated, coachable, collaborative, detail-oriented; takes ownership of work • High integrity, dependable, accountable, humble, and respectful • Comfortable in a small, relatively unstructured office environment (we are remote) • Basic investment knowledge (or willingness to learn) with math proficiency
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