Overview

ABOUT US:

Founded in 1993, Bayview Asset Management is an investment management firm focused on investments in mortgage and consumer credit, including whole loans, asset-backed securities, mortgage servicing rights, and other credit-related assets.

BUSINESS OVERVIEW:

Bayview Asset Management (“Bayview” or “Company”) is an investment management firm with ~$20 billion in AUM. Bayview’s investment strategy focuses on credit investments, including whole loans, asset-backed securities, mortgage servicing rights, and other mortgage and consumer-related assets. Among Bayview’s newest initiatives is the launch of a Commercial Property Assessed Capital Expenditures (“CPACE”) loan origination platform (“BPACE”). BPACE is on a mission to scale innovative, cost-effective financing solutions for commercial building owners’ energy efficiency and renewable energy goals. The BPACE team is comprised of collaborative, solutions-oriented industry leaders who are looking for a creative individual to help grow the division from end to end

POSITION SUMMARY:

The CPACE Underwriter will be highly dynamic. Their primary responsibility will be screening, sizing, underwriting, and project managing CPACE financing requests, working in parallel with originators and other members of Bayview PACE’s (BPACE) underwriting team. The Senior Associate will also work cross-functionally with various teams, including capital markets and portfolio management, in managing work product needed by BPACE which may include financial modeling and reporting.

DUTIES AND RESPONSIBILITIES:

• Spearhead the initial evaluation of lending opportunities with your assigned originator(s), conducting upfront underwriting and due diligence, and creating and presenting summary credit memoranda
• Prepare quote sheets, term sheets, and amortization models
• Lead transaction management and underwriting processes for projects under term sheet, working in conjunction with BPACE’s VP of Underwriting
• Gather due diligence from borrowers and other third-parties, necessary to close the financing
• Underwrite projects in accordance with BPACE’s underwriting guidelines; prepare investment committee memorandum and other deliverables in preparation for final investment committee approvals
• Work with Bayview’s capital markets & portfolio management teams on financial modeling exercises for CPACE assets across BPACE’s platform
• Work with Bayview’s servicing and asset management teams to onboard loans for asset management post-closing
• Assist with duties involving rating agencies, investors, or lenders, such as preparing data tapes, presentations, or financial models
• Go above and beyond to ensure a positive experience, creatively solve problems, and enthusiastically support BPACE’s efforts and initiatives.
• Other duties as assigned.
  
  

SKILLS/KNOWLEDGE/ABILITIES:

• High energy, drive, and strong work ethic
• Collaborative “can do” mindset
• Strong attention to detail, specifically in a CRE financing capacity
• Ability to self-manage & prioritize a significant volume of tasks, both small & large
• Demonstrated project management skills in team settings
• Proficiency in Excel, with ability to build from scratch cashflow, amortization, and yield to worst pricing models, and ability to navigate complex cashflow/return models prepared by Bavyiew’s capital markets team
• Ability to think strategically and creatively in a continuous learning environment
• Ability to engage positively with both internal and external stakeholders
• Excellent interpersonal skills
  
  

EDUCATION and EXPERIENCE:

• Minimum of three years in commercial real estate underwriting
• CPACE lending experience preferred but not required
  
  

COMPENSATION:

• Base compensation is expected to be $115,000 - $140,000 with the opportunity for incentive compensation including a performance-based bonus.
  
  

EEOC

Bayview is an Equal Employment Opportunity employer. All aspects of consideration for employment and employment with the Company are governed on the basis of merit, competence and qualifications without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, or any other category protected by federal, state, or local law.