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Lead Underwriter

Company: Loftium
Location: Seattle
Posted on: November 26, 2022

Job Description:

About LoftiumLoftium is a fast growing Seattle startup tackling housing affordability through home sharing. Our Host to Own product lets prospective homebuyers move into their dream home today, build a down payment by hosting guests in an onsite private suite, and buy the home within three years. Loftium Residents have hosted over 150,000 travelers over 750 properties. -
As a team, we're a tight-knit capable team that's fast-paced, experiment driven, diverse, and places a premium on learning, experimentation, and results. Come join one of the most recognized consumer startups in Seattle and help us keep homeownership within reach.
About the roleAs an Underwriting Lead at Loftium, you will refine and execute Loftium's playbook for underwriting our new property acquisitions. This role encompasses underwriting both the property and the resident. Your north star will be ensuring we are growing in a responsible manner: navigating the appropriate balance of risk mitigation while supporting rapid growth. You'll do this by continually re-evaluating both our current policies (the criteria we have in place to determine what properties and customers we say yes to) and our systems/processes (how efficiently we're able to execute this decisioning). -
This role will be hugely collaborative, working hand in hand with the acquisition / growth team, on the ground agents, as well as downstream (post-acquisition) teams (Onboarding, Operations, and Customer Support) to ensure our Underwriting practices are being informed/reinforced by the outcomes of our decision.
About you

  • You have foundational knowledge and experience of consumer and/or real estate underwriting and risk management. -
  • You also come with a flexible mindset: you don't take existing practice as gospel, but understand that Loftium's unique business model requires new and creative ways to approach underwriting. -
  • You are eager to join a fast paced, rapidly growing startup.
  • Challenges don't daunt you, you thrive in ever-changing environments. -
  • You take pride in your work and ownership of the outcomes.
  • No task is too big or small: you're happy to step outside of your defined responsibilities to do what's most impactful for the company.Responsibilities
  • Work alongside leadership & finance to understand the what and why of Loftium's current approach to underwritingExecute a high volume (20-40 / wk) of underwriting transactions, encompassing both resident (household) underwriting and property underwriting
  • Continuously evaluate, recommend and implement improvements to Loftium's underwriting strategy & processes / systemsPropose frameworks for tracking & reporting Underwriting KPIs encompassing both quality of outcomes and speed/efficiency
  • Working closely with Operations and Sales, serve as the single point of failure for final go / no go decisions for new properties, both at the offer stage and during inspection review
  • Meet regularly with both upstream (Sales & Marketing) and downstream (Ops, CS and Onboarding) teams to understand consumer/property patterns/concerns to inform interactions to underwriting approach
  • Where necessary, identify & execute on underwriting modifications to support new market growth
  • Be(come) an in house expert on mortgage underwriting standards & best practices, staying up to date on industry trends
  • In addition to Underwriting responsibilities, assist with property transaction coordination and other ad hoc tasks that support Loftium's growth.Experience / Expertise Required
  • Preferred: 5+ years of experience in an underwriting or risk management role(s) in either consumer or real estate
  • Preferred: Proven track record in technology startups, ideally Series A or B -
  • Strong analytical skills, data proficiency, SQL skills
  • Ability to thrive in a fast-paced environment and possess a high level of intellectual curiosity with a focus on generating results
  • Ability to prioritize and strategically work through tasks with dedicated urgency
  • Flexibility in approach and willingness to adapt when necessary
  • Bonus: Real estate, short-term rental/Airbnb, tech with a physical component, or B2C startup experienceBenefits
  • Competitive salary and equity
  • Competitive medical & dental insurance (100% employee covered, 50% dependents), 401(k)
  • Untracked/unlimited PTO
  • Flexible remote work (Thursday in office after initial onboarding period) in a post-COVID world
  • Snacks, happy hours, team retreats and events
  • Once-in-a-lifetime experience taking a startup into scale mode, working directly with experienced founders and a diverse, talented and hardworking teamCompetitive compensation including equityBenefits include health, vision, dental, 401K and commuterFull-time roles are based in SeattleLoftium is an equal opportunity employer -

Keywords: Loftium, Seattle , Lead Underwriter, Other , Seattle, Washington

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