Principal Product Manager - Underwriting Specialist

Principal Product Manager, Underwriting Specialist, CoStar Debt Solutions

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Job Description

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Principal Product Manager, Underwriting Specialist, CoStar Debt Solutions

Location: Boston, in-office

CoStar Group is a leading global provider of commercial and residential real estate information, analytics, and online marketplaces. Included in the S&P 500 Index, CoStar Group is on a mission to digitize the world's real estate, empowering all people to discover properties, insights and connections that improve their businesses and lives. We have been living and breathing the world of real estate information and online marketplaces for over 35 years, giving us the perspective to create truly unique and valuable offerings to our customers. We've continually refined, transformed and perfected our approach to our business, creating a language that has become standard in our industry, for our customers, and even our competitors. We continue that effort today and are always working to improve and drive innovation. This is how we deliver for our customers, our employees, and investors. By equipping the brightest minds with the best resources available, we provide an invaluable edge in real estate.

CoStar Debt Solutions is building a new platform for CRE deals, one where credit officers, data pipelines, and AI agents work against the same shared data model. Banks, sponsors, and asset managers query, write, and collaborate on the same underlying system. We build it model-first.

We're hiring a Principal Product Manager to help us build a world-class CRE deal platform: the workflows, defaults, and decisions that decide whether a credit officer or originator reaches for our product first thing in the morning. You'll lead discovery with the banks and sponsors who help shape it, working alongside our in-house underwriting, credit, and lending experts.

Underwriting judgment is the highest bar for the product. Our experts and the lenders we work with carry it; your job is getting it into the platform, and to our customers, without losing any of it. The work starts with that judgment, and it ends with that judgment encoded into a system thousands of underwriters run against.

What you'll own:

• Working with lenders. You'll be on the calls, close to real deals, and the person lenders trust to make sure what they tell us, and what our experts know, shows up in the product they use. Insights stay with the institution; any wider use is decided separately.
• Discovery on CRE deal workflows, from the first look at a deal through underwriting and the life of the loan: capital stack construction, rent roll ingestion, portfolio surveillance, and deal counterparty visibility. These exist today as scenarios. The work is learning how originators and credit officers really use them, with methods like Jobs-to-be-Done or journey mapping, and agreeing with lenders what success looks like. Then you measure it: whether lenders decide faster, with more confidence, and keep coming back.
• Building with us. You'll prototype and build alongside us with AI tools. That includes ways to capture the jobs lenders are trying to get done, and to connect them to how the product is defined.
• Working with engineering. You'll help keep what we learn from lenders connected to what engineering builds, including the boundary between "the platform can model this" and "the workflow should expose this," and where that line gets drawn for each new capability.
• The default behaviors that decide whether the platform feels expert or generic, worked out with our underwriting experts: what the system asks vs. assumes, when it surfaces uncertainty, and what stays in front of a human. With our underwriting and risk experts, you'll settle which steps the platform can do on its own, which it should check with someone, and which only a qualified person decides.
• Keeping pace with AI. Model and agent capabilities change month to month. You'll track what's newly possible, test it with lenders, and retire what no longer earns its place.

You'll report to the product lead for the platform, who owns vision and roadmap. Your discovery is a primary input to both.

Basic Qualifications

• 8 or more years shaping digital products in financial services or another data-heavy, regulated field, ideally lending or credit.
• A track record of getting expert knowledge into a product: learning a specialist domain fast alongside its experts, and turning what they know into something customers use. Here, that means how originators, credit officers, asset managers, and sponsors actually spend their days: not just the artifacts they produce, but the friction between them.
• A track record of running discovery and co-design with customers or partners, and turning it into measured outcomes.
• Hands-on building with AI. You use AI tools and coding agents to prototype and build, and you know where they fall short.
• Tech fluency. You read a schema, reason about software as a system, and can sit next to engineers and argue with the model when it's wrong.
• Bachelor's degree from an accredited, not-for-profit, in person, university or college.
• A track record of commitment to prior employers.

Preferred Qualifications

• Some exposure to CRE, lending, or credit. Enough to ask our experts the right questions; the depth comes from them.
• Data modeling experience: schemas, graphs, or ontologies, and the judgment to tell a real concept from a one-off.
• Experience writing acceptance criteria or tests that engineers build against.
• Sharp judgment about what's worth automating and what needs a human in the loop, worked out with the experts who know where that line sits.
• A bias for being specific. Generic opinions are not useful here. When an expert says "the LLM should not propose mezz above 12% in this market without flagging it," you turn that into something the product actually does, with its reason, and check it holds.
• Comfort with LLM-driven workflows. You find the question of "what should the model decide vs. ask vs. flag" genuinely interesting, and you have a view on when a person needs to see the system's reasoning before acting on it.
• Comfort with change. You've worked where the tools, the market, and the plan moved under you, and you kept delivering.

The growth path

The first year is real lenders, real deals, and measured outcomes on CRE deal workflows, building alongside us as you learn the domain. As agent-driven workflows take on more of the routine work, you take on more of shaping what the platform knows and does, with our underwriting experts confirming it.

What's in it for you?

When you join CoStar Group, you'll experience a collaborative and innovative culture working alongside the best and brightest to empower our people and customers to succeed.

We offer you generous compensation and performance-based incentives. CoStar Group also invests in your professional and academic growth with internal training, and tuition reimbursement.

Our benefits package includes (but is not limited to):

• Comprehensive healthcare coverage: Medical / Vision / Dental / Prescription Drug
• Life, legal, and supplementary insurance
• Virtual and in person mental health counseling services for individuals and family
• Commuter and parking benefits
• 401(K) retirement plan with matching contributions
• Employee stock purchase plan
• Paid time off
• Tuition reimbursement
• On-site fitness center and/or reimbursed fitness center membership costs (location dependent), with yoga studio, Pelotons, personal training, group exercise classes
• Access to CoStar Group's Employee Resource Groups
• Complimentary gourmet coffee, tea, hot chocolate, fresh fruit, and other healthy snacks

The final salary or hourly rate offered for this role will fall within the range set forth below based on a variety of factors, including but not limited to, geographic location, skills, and competencies.

Base Compensation: $152,000- $206,000, Annually

CoStar Group is an Equal Employment Opportunity Employer; we maintain a drug-free workplace and perform pre-employment substance abuse testing

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CoStar Group is an Equal Employment Opportunity Employer; we maintain a drug-free workplace and perform pre-employment substance abuse testing