What are the responsibilities and job description for the Junior Underwriter position at Asset Based Lending?
**This role is hybrid (Tuesday through Thursday in-office) out of our Jersey City or Cherry Hill office.
Who We Are:
Based in New Jersey and established in 2010, Asset Based Lending, LLC (“ABL”) is one of the nation’s leading Hard Money Lenders. We provide fast bridge financing to real estate investors for the purchase, renovation, or new construction of single family, multi-family and mixed-use properties as well as DSCR rental loans for long term investors. We have closed thousands of loans since we began lending fourteen years ago, producing nearly $3B in originations. ABL was acquired by a private equity firm in 2021, and with a renewed focus on growth, we’ve set our sights on consistent evolution and cementing our place as the premier private lender in the country.
Job Summary
We are seeking a motivated and detail-oriented Junior Mortgage Underwriter to join our underwriting team. In this role, you will assist in the evaluation of loan applications, support senior underwriters in risk assessment, and help ensure that all loans meet company guidelines. This position is ideal for an early-career professional (1–3 years of experience) looking to develop a strong foundation in underwriting within a fast-paced, team-oriented environment.
Key Responsibilities
1. Loan Review and Support
- Assist in the review and analysis of mortgage applications, focusing on borrower creditworthiness, collateral, and financial documentation.
- Verify required documentation, including credit reports, appraisals, market data, and title information.
- Prepare preliminary underwriting summaries and recommendations for review by senior underwriters and credit committiee.
- Ensure all loan files are accurate, complete, and compliant with company policies.
2. Collaboration and Communication
- Work closely with loan officers, processors, and senior underwriters to facilitate smooth loan processing and timely closings.
- Communicate clearly and professionally with internal stakeholders to resolve questions or discrepancies in loan files.
- Participate in regular team meetings to discuss workflow, best practices, and updates to underwriting guidelines.
3. Risk Awareness and Compliance
- Support senior underwriters in identifying potential risks and recommending appropriate mitigations.
- Follow established risk assessment procedures and ensure compliance with lending policies, and documentation requirements.
- Maintain up-to-date knowledge of underwriting guidelines and loan programs.
4. Professional Development and Continuous Improvement
- Take initiative to learn advanced underwriting techniques and gain familiarity with company products and risk criteria.
- Seek feedback from senior underwriters and team leads to improve accuracy and efficiency.
- Contribute to process improvements that enhance the speed and quality of loan review and documentation.
Qualifications
- Bachelor’s degree in Finance, Business, Economics, or a related field (or equivalent professional experience).
- 1–3 years of experience in mortgage or bridge loan underwriting, loan processing, or financial analysis.
- Foundational understanding of mortgage products, real estate valuation, and credit analysis.
- Strong attention to detail with excellent analytical and organizational skills.
- Effective written and verbal communication abilities.
- Proficiency in Microsoft Office.
- Willingness to learn and grow within a collaborative team environment.