Mortgage Underwriter

Merchants Mortgage & Trust

Merchants Mortgage & Trust Corporation ("Merchants") is a private real estate lender headquartered in Denver, Colorado. Merchants specializes in short-term residential bridge loans for investors, multi-family loans, commercial loans, construction loans, and rental property loans. Merchants was acquired by KKR, a leading global investment firm, in 2022 and is on pace to originate nearly $1 billion in 2025.

Position Summary

Mortgage Underwriter

Location: San Diego, California

Full Time

Roles and Responsibilities

• Underwrite loans in accordance with Merchants' guidelines. Responsibilities will include:
• Review and reconcile loan applications to ensure the loan meets program requirements.
• Analysis of loan application, credit profile/report(s), background reports, financial statements, leverage ratios, appraisal reports, renovation budgets, entity documents, purchase agreements, borrower experience, collateral, and supporting documentation.
• Manage an ongoing pipeline of loans through the Merchant's loan origination process.
• Report on the status of loans within the pipeline on a regular basis.
• Communicate effectively with Loan Originators, Underwriters, and the Credit Committee.
• Present loans to the Credit Committee for exceptions, escalations, and approval.
• Condition files for missing/supporting documentation according to Merchants' guidelines.
• Perform a preliminary review of all underwriting documents, including third-party 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 the reasons for approving or rejecting loans so that clients and loan officers are well-informed about the decisions made.
• Mentor and train junior staff.

Qualifications/Job Requirements

• Bachelor's degree required.
• Minimum 5 years of mortgage underwriting experience. Strong preference for experience with underwriting commercial and business purpose loans
• Experience with institutional lending and secondary market loan trading preferred.
• 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 the office as required by management