Hometap has an ambitious mission to make homeownership less stressful and more accessible. Our vision is to make the idea of bringing on an investor for your home as ubiquitous as borrowing to finance a home is today. We also aspire to build a long lasting durable financial-technology company that becomes a hallmark of the Boston economy.
We are passionately building a business and industry that is homeowner-centric and empowers current and prospective homeowners to access their home’s equity, free of debt. Our first product allows a homeowner to tap into the built-in value of their home in order to do the big-ticket stuff that makes life better: start a business, renovate their home, get out from under crippling debt, pay for college tuition or help family members in times of need.
Today, Hometap makes investments in residential homes, buying a small equity stake against the home’s future value. For homeowners, this is a simplified, sensible alternative to mortgage debt and monthly payments. For investors, this is a new asset class, allowing them to participate in the multi-trillion-dollar residential real estate market without the obligations and downsides of homeownership. This product is scaling rapidly and we have begun our plans to expand our platform to support numerous other products over time, complex data science-driven pricing, and investment structure permutations. Our solution leverages advanced data and analytics as we create best-in-class experiences for our homeowners, business and asset capital partners.
Who You Are:
We are seeking an experienced Underwriting Manager with a passion for real estate. In this role, you’ll play a critical role in the investment process, mentoring our team of underwriters, making recommendations on our investment process and exploring ways to increase efficiency. This role combines both individual goals with management responsibility for an assigned group of underwriters. We are constantly looking to improve our portfolio performance with our investments. The underwriting team analyzes and digests a broad set of home and homeowner information to assess the risk profile of applications. Underwriters on the team make investment recommendations to the Investment Committee and CEO.
What you’ll do:
Work cross-functionally with Operations, Sales and Finance
Synthesize information and make investment recommendations
Work with your team to quickly identify edge cases and prepare processes to resolve issues
Advise team on investment decisions in accordance with our risk threshold
Verify applicant information and assess applicant risk against a set of underwriting criteria
Flag applications for potential concerns with regard to application completeness or high-risk applicants
Work closely with Investment Coordinators and Investment Managers to quickly and accurately process homeowner applications
Mentor your team of Underwriters and help improve their set of core competencies, including efficient pipeline management, cross-departmental communication, and improving QC scores
Function as first point of contact for all eligibility escalations
Coach and train your team on all Hometap underwriting guidelines
What you will bring to the table:
Bachelor’s degree, ideally in business, finance or a related field
Prior experience managing a team
Prior experience in, banking, mortgages, or a financial services operations role strongly preferred
Strong proofreading/fact-checking skills
Ability to think critically and make recommendations, specifically in nuanced areas
Comfortable working with leaders in finance and legal to escalate potential issues
Ability to multi-task and work under pressure within a deadline-oriented environment
Ability to motivate and develop team
Proactive approach to daily work and ability to handle multiple responsibilities
Ability to communicate professionally with others
Strong client service skills
Eager to join an early-stage tech company, interested in real estate, interested in fintech
Our Team & Culture
At Hometap, we pride ourselves on being Owners -- of our jobs, our output, our careers -- and Good Neighbors -- we believe helping each other means helping the company, homeowners, and investors succeed.
Equally important to your skill set is what you bring to our team and business. We are looking for a creative thinker who looks for opportunities within challenges, rolls up their sleeves to get things done, values collaboration and communication, and embraces the Homeowner-first mentality. Critical to our mission is being thoughtful in everything we build. If you’re someone who embraces this builder mentality, you’ll be right at home here.
Hometap is a smart new loan alternative for tapping into home equity without taking on debt. Homeowners receive debt-free cash by selling a percentage of the equity in their homes to Hometap. They can use the cash for anything, from paying off credit-card debt to starting a business to buying a second home. When the home sells or the homeowner settles the investment, Hometap is paid out an agreed-upon percentage of the sale price or current appraised value.