What are the responsibilities and job description for the Asset Underwriter position at ascentds?
About Ascent
Ascent Developer Solutions is a leading private lending platform, serving real estate developers nationwide in the acquisition, renovation, and construction of residential real estate. Founded by a leadership team with a deep understanding and personal experience in virtually every facet of real estate development, Ascent is uniquely positioned to create custom, innovative lending solutions for a variety of real estate development business strategies.
The Role
The Asset Underwriter’s primary focus is on the asset-level risk analysis of a transaction. This role is best suited for a candidate who has a detailed understanding of the “transactional” process of purchasing and refinancing a property. A deep familiarity of underwriting fundamentals and ability to underwrite the viability and profitability of a real estate project and loan structure is required for this position. Also, the Asset Underwriter should have familiarity with financial review of sponsor financial documentation inclusive of liquidity statements and capital stack review.
The Work
- Manage your own pipeline in an efficient manner given various funding dates and SLA’s.
- Review loans with a variety of program types, property types and loan structures.
- Confirm eligibility against program guidelines and risk thresholds.
- Collaborate with Sales, Valuations, Construction, and Operations to collect and verify necessary due diligence documentation.
- Ensure compliance with credit policy, asset-level guidelines, and investor requirements.
- Input and/or validate underwriting information in the LOS or other systems.
- Review and approve key documents related to the transaction: Title Reports, Contracts, Escrow documents, Appraisal, etc.
- Analyze renovation budgets and ensure alignment with market comps and borrower exit strategy.
- Participate in pipeline meetings and provide underwriting insight to expedite processing and approvals.
- Assessment of collateral value, scope of work, exit strategy, and local market dynamics to identify any red flags.
- Perform Borrower level underwriting as needed, including but not limited to SCAD’s, CAD’s, or Sponsor underwrites.
Your Skills & Experience
- Bachelor’s Degree.
- Minimum 3 years in Commercial Real Estate banking or private real estate lending, in the form of underwriting, credit analysis or related experience.
- Experience in fix & flip or construction lending is required.
- Knowledge of real estate lending and loan structuring.
- Familiarity with real estate markets, valuation methodologies, and investor exit strategies.
- Proficiency in Excel and pipeline management tools.
- Experience with residential construction budgets, cost review, and timeline feasibility a plus.
The Work Environment
Full-time, and 4 days a week in our Encino HQ.
Salary Range
$95,000 - $130,000 with 15% bonus target
Our Benefits
We offer a comprehensive benefits package designed to support your health, well-being, and work-life balance. Our benefits include five health plans, two dental plans, health savings and flexible spending accounts, vision coverage, a 401(k) plan, and other optional benefits from which to choose.
Our Pledge
We pledge to be fair and considerate in hiring and promoting individuals, ensuring everyone can contribute their fullest potential regardless of background, identity, or personal circumstances. By promoting equal opportunity, we not only enhance our workplace but also contribute to a more just and equitable society. At Ascent, we stand united in building a community where everyone is empowered to succeed. Thank you for joining us on our journey towards a more inclusive future.
