Builder Circle · 1 month ago
Head of Underwriting
United States
Full-time
Remote
Director/Executive
10+ years expBuilder Circle is a Midwest-based private lender focused on residential transition loans. They are seeking a Head of Underwriting to lead the underwriting strategy, operations, and team to manage risk and ensure profitability in a fast-paced lending environment.
Commercial LendingLendingReal Estate
Responsibilities
Credit Analysis & Deal Structuring
Underwrite RTLs and commercial loans, analysing borrower financials, project plans, exit strategies, and collateral
Analyze borrower credit, liquidity, net worth, project feasibility, and exit strategy
Evaluate market, borrower, and asset risks to determine viability and appropriate loan structures (LTV, covenants, pricing)
Independently structure loan terms (LTV, LTC, TLTC, interest reserve, guarantees) to meet both Builder Circle and investor criteria
Review valuations, construction budgets, title, and third-party reports for accuracy and risk indicators
Policy Adherence & Risk Escalation
Ensure all loans are underwritten in line with internal and investor credit guidelines
Recommend and justify exception requests to Credit Committee when warranted by compensating factors
Monitor existing RTL exposures, identifying risks early and recommending actions
Participate in monthly credit policy reviews and support credit policy updates or audit initiatives
Support development of underwriting frameworks, policies, and automation tools
Processing Oversight
For complex, exception-based, or investor-facing deals, lead the processing effort post-approval
Ensure final documentation aligns with the approved structure
Monitor draw structure or pre-close conditions (e.g., permit issuance)
Coordinate closing instructions and investor-facing data reconciliation
Collaboration & Communication Work closely with Sales, Processing, and Capital Markets to ensure deals are viable, fundable, and meet investor expectations
Communicate directly with borrowers, brokers, and third-party vendors to resolve credit conditions and clarify documentation needs
Qualification
Required
Minimum 10+ years of direct underwriting or credit experience in real estate investment lending, including bridge, construction, rehab, and land loans
Commercial judgement with disciplined risk appetite
Proven ability to underwrite and structure loans within defined credit parameters, including leverage, exit strategy, and borrower financial capacity
Deep understanding of credit policy development, exception management, and investor reporting requirements
Strong familiarity with draw-based loan structures, interest reserves, guarantees, and construction feasibility
High attention to detail and ability to manage multiple deals and deadlines simultaneously
Ability to self-start and manage, experience in remote environments a plus
Excellent written and verbal communication skills
Bachelor's degree in Finance, Real Estate, Accounting, or related field required; advanced degree or credit certifications preferred
Preferred
Prior experience working with capital markets-backed originators (e.g., securitized warehouse lines or preferred equity)
Experience managing or auditing complex closing files or post-close documentation workflows
Familiarity with underwriting software and CRM platforms (Salesforce a plus)
Company
Builder Circle
Builder Circle offers lending solutions for home builders and real estate investors.
11-50 employees
Funding
Current Stage
Early StageLeadership Team
Bruce Bloomingdale
Chief Executive Officer
Company data provided by crunchbase