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Senior Underwriter - Manufactured Housing
Ascent Developer Solutions
Encino12h ago
- Seniority
- Senior
About the role
<div class="content-intro"><p><strong>About Ascent</strong></p>
<p>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.</p></div><p><strong>The Role</strong></p>
<p><span data-contrast="auto">The Senior Underwriter – Manufactured Housing Communities is responsible for evaluating, structuring, and presenting credit opportunities secured by manufactured housing communities and related real estate assets. The position plays a critical role in maintaining portfolio quality while supporting strategic loan growth objectives.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">This individual will lead complex underwriting assignments, mentor junior team members, collaborate with originations and asset management teams, and serve as a trusted advisor to Credit Committee and executive leadership.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">The successful candidate will possess strong financial analysis skills, exceptional credit judgment, and a comprehensive understanding of MHC operations, market dynamics, infrastructure considerations, and sponsor execution risk.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></p>
<p><strong><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> The Work</span></strong></p>
<ul>
<li><span data-contrast="auto">Lead the underwriting and credit analysis of Manufactured Housing Community (MHC) lending opportunities, including acquisitions, refinances, bridge loans, recapitalizations, expansions, and value-add transactions.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Analyze borrower financial statements, tax returns, liquidity, net worth, contingent liabilities, and organizational structures to assess sponsor strength, repayment capacity, and overall creditworthiness.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Evaluate MHC collateral through detailed analysis of rent rolls, operating statements, occupancy trends, lot utilization, tenant-owned versus park-owned home composition, utility reimbursement structures, capital expenditure requirements, and market positioning.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Assess key transaction risks, identify mitigating factors, and structure loan recommendations that align with Ascent's credit standards, risk appetite, and portfolio objectives.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Prepare comprehensive underwriting memoranda and present recommendations to Credit Committee and senior management.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Review appraisals, environmental reports, engineering assessments, market studies, and other third-party due diligence materials to support credit decisions.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Evaluate community infrastructure, including roads, water systems, sewer systems, septic systems, electrical distribution systems, and deferred maintenance considerations, as part of collateral risk assessment.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Monitor market conditions, industry trends, regulatory developments, and competitive dynamics affecting Manufactured Housing Communities and incorporate findings into underwriting and portfolio management practices.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Partner in the development, implementation, and refinement of underwriting standards, credit policies, risk-rating methodologies, and portfolio monitoring processes specific to MHC lending.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Support ongoing portfolio management activities by reviewing borrower reporting, monitoring covenant compliance, tracking occupancy and performance trends, and identifying emerging credit concerns.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Collaborate closely with Originations, Asset Management, Legal, Construction Risk, Capital Markets, and Servicing teams to facilitate efficient transaction execution and portfolio oversight.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Mentor and train junior underwriters and analysts, providing guidance on underwriting methodology, credit analysis, transaction structuring, and risk assessment.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Review underwriting work completed by junior team members to ensure consistency, accuracy, and adherence to company policies and procedures.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Contribute to departmental initiatives focused on process improvement, operational efficiency, portfolio analytics, and reporting enhancements.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Perform additional duties and special projects as assigned.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
</ul>
<p></p>
<p><strong>Your Skills and Experience</strong></p>
<ul>
<li><span data-contrast="auto">Minimum 7 years of commercial real estate underwriting experience.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Minimum 3 years underwriting Manufactured Housing Communities, Multifamily, Self Storage, or other operational real estate asset classes.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Thorough understanding of manufactured housing communities (MHCs), including community operations, ownership structures, resident dynamics, occupancy drivers, rent and utility structures, regulatory considerations, and industry best practices.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":720,"335559737":0,"335559738":0,"335559739":0,"335559740":240,"335559991":360}"> </span></li>
<li><span data-contrast="auto">Demonstrated experience working with, financing, managing, underwriting, acquiring, or evaluating manufactured housing communities preferred.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":720,"335559737":0,"335559738":0,"335559739":0,"335559740":240,"335559991":360}"> </span></li>
<li><span data-contrast="auto">Strong knowledge of market trends, valuation methodologies, and operational performance metrics specific to the manufactured housing sector</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":720,"335559737":0,"335559738":0,"335559739":0,"335559740":240,"335559991":360}"> </span></li>
<li><span data-contrast="auto">Ability to analyze community-level financial statements, operating reports, and performance data.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Advanced financial statement analysis and commercial real estate underwriting expertise.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Bachelor's degree in finance, business, or related field.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Highly effective communicator with strong presentation and relationship-building skills. </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Entrepreneurial mindset with the ability to thrive in a fast-growing, collaborative environment. </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Strong knowledge of financial analysis, credit risk modeling, and regulatory compliance.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Exceptional interpersonal and written communication skills.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Leadership track record of leading and developing Underwriting and Credit Analyst teams.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
<li><span data-contrast="auto">Proficiency in financial software and tools, including LOS, financial spreads and risk-scoring tools.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></li>
</ul>
<h4><strong>The Work Environment</strong></h4>
<ul data-pattern="discCircleSquare" data-depth="1">
<li value="1"><span class="TextRun SCXW155911724 BCX8" lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW155911724 BCX8">This role </span><span class="NormalTextRun SCXW155911724 BCX8">can be fully remote </span></span><span class="EOP Selected SCXW155911724 BCX8" data-ccp-props="{"201341983":0,"335557856":16777215,"335559739":0,"335559740":240}"> </span></li>
<li value="2">Full-time, 40 hours per week; must be available for occasional overtime.</li>
<li value="3">Some nights and weekends required.</li>
</ul>
<h4><strong>Salary Range</strong></h4>
<p>Salary range is $150k-$175k per year, with a discretionary bonus adding up to 20% per year.<br><br></p><div class="content-conclusion"><p><strong>Our Benefits</strong></p>
<p>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.</p>
<p><strong>Our Pledge</strong></p>
<p>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.</p></div>
Perks & benefits
- 401k
- Vision Insurance
- Dental Insurance
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