Commercial Real Estate Underwriting Analyst — U.S. Mortgage Brokerage

Commercial Real Estate Underwriting Analyst — U.S. Mortgage Brokerage

##Compensation

$10–$14 USD per hour, based on experience
$500 bonus for each closed transaction materially supported
Full-time, 40 hours per week

Schedule

Monday–Friday during Los Angeles business hours
Approximately 8:00 a.m.–5:00 p.m. Pacific Time, including a one-hour break

About the Position

CLS is a commercial mortgage brokerage based in Los Angeles. We arrange financing for commercial properties throughout the United States, including multifamily, retail, industrial, office, hospitality, construction and special-purpose properties.

We are hiring a full-time Commercial Real Estate Underwriting Analyst to support active financing assignments from initial review through closing.

This is an analytical finance position—not a general virtual-assistant or bookkeeping role. The successful candidate will be comfortable analyzing imperfect borrower information, identifying missing items, building clear Excel underwriting and communicating professionally with our team, borrowers and lenders.

Candidates with direct U.S. commercial real estate lending experience are strongly preferred. Candidates with strong experience in corporate finance, investment banking, credit analysis, accounting, FP&A or real estate analysis will also be considered.

Primary Responsibilities

• Analyze rent rolls, trailing-12-month operating statements, historical financials, budgets and borrower-provided information
• Normalize revenue and expenses and calculate underwritten NOI
• Calculate DSCR, debt yield, LTV, LTC, cap rate, break-even occupancy and maximum supportable loan proceeds
• Build, update and review Excel underwriting models
• Underwrite multifamily, retail, industrial, office, hospitality and other commercial-property transactions
• Prepare lender-ready deal summaries, financing requests and executive memoranda
• Identify missing information, inconsistencies and material underwriting risks
• Research property information, comparable transactions and lender programs
• Draft clear, professional borrower and lender email s
• Maintain organized deal files and follow-up lists
• Assist with active transactions from initial underwriting through closing
• Use AI tools to accelerate research, analysis and document preparation while independently verifying all important information

Required Qualifications

• At least two years of professional experience in financial analysis, credit, lending, commercial real estate, accounting, investment banking or a closely related field
• Strong Excel ability, including financial formulas, model organization, error checking and sensitivity analysis
• Solid understanding of income-producing property underwriting
• Strong written and spoken English
• Ability to explain analytical conclusions clearly
• High attention to detail and strong professional judgment
• Reliable high-speed internet, computer, webcam, microphone and dedicated workspace
• Ability to work consistently during Pacific Time business hours
• Comfortable participating on camera during Teams meetings, training and collaborative work sessions

Preferred Qualifications

• Experience underwriting U.S. commercial real estate loans
• Experience working for a bank, mortgage brokerage, lender, debt fund, investment firm or real estate company
• Familiarity with construction lending, loan sizing or lender submissions
• Experience with Microsoft Outlook, Teams, Salesforce or commercial real estate databases

Compensation and Growth

• Starting compensation of $10–$14 USD per hour, depending on demonstrated ability and relevant experience
• $500 closing bonus for each qualifying transaction materially supported by the analyst
• Paid underwriting exercise for finalists
• Formal performance and compensation reviews
• Opportunity to advance into a senior analyst or lead underwriting position

We are looking for someone who wants a stable, long-term position and meaningful responsibility—not a temporary side job.

How to Apply

Send the following to ---------- and ----------

1. Your résumé
2. A short introduction describing your most relevant analytical or commercial real estate experience
3. An example of a financial model, underwriting assignment or credit analysis you personally completed, with confidential information removed
4. Your requested hourly compensation

Answer these four questions:

1. What property types or financing transactions have you analyzed?
2. Describe one underwriting assignment you personally completed and the calculations for which you were responsible.
3. A property has underwritten NOI of $250,000. Assuming a 1.25x minimum DSCR, a 7.00% interest rate and 30-year amortization, explain how you would calculate the maximum supportable loan amount.
4. Confirm that you can work full-time during Los Angeles business hours and participate on camera during scheduled Teams meetings.

Your email subject must end with the word CAPSTONE:

Commercial Real Estate Analyst — [Your Name] — CAPSTONE

Applications that appear to be AI-generated but cannot be supported during an interview and practical underwriting exercise will not be considered.

Hiring Process

Qualified candidates will complete:

1. Initial application review
2. Short video interview
3. Paid practical underwriting exercise
4. Final interview and reference check

We intend to hire promptly.