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Principal, Originations (RTL)

Setpoint.io

Setpoint.io

Austin, TX, USA · New York, NY, USA · park city, ut, usa · Remote
Posted on Saturday, February 24, 2024

About the role

Behind many of life’s most important transactions — buying a house, applying for a mortgage, getting a small business loan, or refinancing a credit card — is a network of credit relationships. Setpoint provides critical operational infrastructure for relationships between the world’s largest banks, credit funds and capital markets counterparties. We’re building trust in this system of credit.

Setpoint is looking for an experienced credit investor focused on the RTL/DSCR space to join our team!

This is an opportunity to have a big impact on a growing asset manager and technology company. You will drive over $1B of capital deployment and asset management across multiple investment vehicles while reporting to our Managing Director and working closely with our product and capital teams.

The ideal candidate has credit investment experience, a deep understanding and network in the RTL and DSCR landscape and a strong interest in proptech and real estate. They should enjoy collaboration in a team-first environment and welcome the dynamics that come with a fast-growing company.

Who will love this job

  • A process driver - you will play a critical role in transitioning the RTL industry from a fragmented, undercapitalized ecosystem to one that is standardized, quick, and highly efficient
  • A problem-solver with excellent judgment – you can manage various borrower, investor, and technical concerns within an evolving market and regulatory environment
  • A deal maker – you enjoy building and owning relationships and can find win-win solutions that maximize long term value
  • A great communicator – you possess the excellent written and verbal communication skills and attention to detail
  • A multi-tasker – you can manage multiple priorities and set frameworks for how to execute them effectively within their deadlines
  • An owner – you’re excited to join a company during a period of rapid growth, wear many hats, thrive in ambiguity, and feel ownership of the broader mission

What you’ll do

  • Sourcing - Meet and develop relationships with innovative real estate and proptech companies, with a focus on RTL and DSCR originators
  • Underwriting – Perform investment diligence on potential credit investments and write investment memos. Underwrite all aspects of a deal including company credit risk, borrower business models, and underlying collateral.
  • Transaction Execution - Work closely with in-house and external counsel to document and execute facilities, including detailed involvement in legal docs and driving transactions to close
  • Portfolio Management – Maintain strong relationships with borrowers and actively manage risk in the portfolio
  • Investor Management - Support investor facing activities including fundraising and investor relations

You should have

  • 7+ years of investment or transaction experience
  • Experience working in RTL / DSCR investments, real estate, structured credit, or proptech capital markets is preferred
  • Ability to prioritize appropriately, and meet deadlines in a high-pressure environment, prioritize commercial terms
  • Flexibility, positivity, and team oriented

About Setpoint

Setpoint provides purpose-built capital and technology to asset-backed borrowers and lenders. Our platform is the funding operating system for originators: it verifies and stores documents; automates critical calculations and compliance reporting; and digitizes assets like homes or cars. Setpoint’s technology makes warehouse transactions instant and error free.

In December 2022, Setpoint announced a $43M Series A led by Andreessen Horowitz with participation from Stonecroft, 75andSunny, FifthWall, 645 Ventures, NextView Ventures, LiveOak Venture Partners, Vesta Ventures, and ATX Venture Partners.

For all our employees, we offer a full slate of benefits from competitive salaries, stock options, medical, dental and vision coverage, 401k, disability coverage, and flexible vacation. Setpoint has offices in Austin, New York, and Park City, UT and we’re currently hiring remote team members for specific roles.

Compensation: $150,000 - $250,000 dependent on multiple factors, which may include the successful candidate's skills, experience and other qualifications.

Setpoint provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.