Job Title:Commercial Underwriter
Location:Remote - Midwest
Department/Group:Gradient Mortgage Capital LLC/Sales
Travel Required:None
Job Status:Exempt
Position Type:Full-Time, Regular
Work Schedule:Monday-Friday, 9:00AM - 5:00PM ET
Reports To:CEO
SummaryThe Commercial Underwriter is responsible for evaluating, structuring, and decisioning Small Balance Commercial Real Estate (SBCRE) loan requests with a high degree of precision, consistency, and sound credit judgment. This role requires hands-on experience underwriting small balance commercial loans, as the complexity and nuance of this market demand a deep understanding of borrower profiles, property types, cash-flow analysis, and SBCRE-specific risk drivers.
The Underwriter performs comprehensive credit analysis of borrowers and guarantors, conducts detailed collateral and market reviews, and applies informed judgment within established credit guidelines. Reporting directly to the Head of Credit, this role plays a critical part in maintaining credit quality while supporting the company's production and growth objectives. The ideal candidate is analytical, detail-oriented, and capable of operating independently in a fast-paced, entrepreneurial environment.
Essential Duties and Responsibilities - Analyze borrower and guarantor financials, including tax returns, income statements, balance sheets, cash flow statements, and projections, with a focus on small balance commercial transactions.
- Assess borrower and guarantor creditworthiness using credit reports, third-party data, and relevant industry benchmarks.
- Evaluate real estate collateral by reviewing appraisals, environmental reports, market studies, rent rolls, operating statements, and title documentation to identify and mitigate risk.
- Structure and recommend loan terms and conditions, including pricing, leverage, and covenants, that appropriately balance risk and business objectives.
- Exercise sound judgment in nuanced or gray-area credit decisions common in SBC lending, clearly articulating rationale and mitigating factors.
- Prepare clear, well-documented underwriting narratives and credit memoranda that accurately reflect risk analysis, conclusions, and recommendations.
- Maintain accurate, complete, and timely records in the loan origination system (LOS) and CRM.
- Ensure underwriting decisions comply with internal credit policies, regulatory requirements, and fair lending standards.
- Collaborate with sales, operations, closing, and third-party vendors to obtain required information and support an efficient end-to-end loan process.
- Contribute toward quarterly production goals and participate in periodic pipeline, production, and credit review meetings.
- Participate in weekly one-on-one meetings and broader underwriting and production initiatives.
- Perform other duties and responsibilities as assigned by management.
Required Qualifications and Skills - Demonstrated experience underwriting Small Balance Commercial Real Estate loans; investor residential or DSCR experience is a plus but not a substitute.
- Strong ability to interpret complex financial statements and layered credit profiles typical of SBC transactions.
- Solid understanding of commercial property types, borrower structures, guarantor analysis, and cash-flow-based underwriting.
- High attention to detail with strong analytical, organizational, and critical-thinking skills.
- Ability to work independently while collaborating effectively with cross-functional teams.
- Comfort operating in a growth-oriented, entrepreneurial environment with evolving processes and priorities.
Education - Bachelor's degree in Finance, Accounting, Real Estate, Economics, Business Administration, or a related field preferred.
- An equivalent combination of education and directly relevant underwriting experience may be considered in lieu of a degree.
Experience - Minimum of 3 to 5 years of direct Small Balance Commercial Real Estate underwriting experience required.
- Proven experience independently underwriting, structuring, and decisioning SBC loans across common property types, including multifamily, mixed-use, retail, office, industrial, and special-purpose assets.
- Experience working within defined credit guidelines while applying sound judgment to nuanced or non-standard transactions.
- Prior experience in a private lender, non-bank lender, or bank commercial credit environment strongly preferred.
- Familiarity with loan origination systems (LOS), third-party reports, and credit memo preparation required.
