Non-QM Underwriter

WHO WE ARE

We are committed to a supportive, diverse, and inclusive culture, living our values of Rigor, Ownership, Curiosity, Kindness, and "Straight Up" to promote equality and financial empowerment. Intrigued? Say hello!
WHO YOU ARE

- Exceptional organizational, analytical, customer service, and communication skills

- Excellent critical thinking, independent decision-making, and problem solving skills

- Must be well-versed with current Non-QM regulations

- Ability to work in a fast-paced, multi-tasked environment

- Thorough knowledge of federal and state laws pertaining to the mortgage banking industry (i.e.: TILA, ECOA, RESPA, etc.)

- Strong ability to independently review and clear Title documentation, Appraisal reports (including complex, unique property types, SSR’s and CDA’s) and Full condo project reviews (warrantable, non-warrantable, new construction)

- Strong knowledge of Trust documents

- Strong knowledge of LLC and Corporation documents

- Expert knowledge of AUS (DU, LP) results

- Ability to underwrite/review complex purchase and refinance transactions

- Ability to work independently as well as part of a team

- A full understanding of current FNMA/FHLMC underwriting guidelines is required

- Recent experience underwriting Non-QM loan programs

- Strong understanding of Non-QM borrower profiles, income, and documentation requirements

- Have a high-volume non-QM underwriting background while maintaining quality, accuracy, and meeting SLAs

WHAT YOU’LL BE DOING

- A thorough credit and collateral review of loan files to determine deficiencies and/or issues including calculating income using standard and alternative income calculation methods

- Manually calculate income across all non-QM programs including complex self-employed borrower profiles, layered income sources and variable cash flow.

- REO analysis

- Reviewing title documents to ensure clear title at closing

- Reviewing trust documents

- Reviewing condo documents in alignment with client and investor guidelines for warrantable and non-warrantable condos.

- Concise and accurate conditioning of loan files.

- Meet contractual turn times for initial, resubmission, and CTC reviews without sacrifice to quality.

- Analyze complex, high page count tax returns

- Communicate (telephone, email, and/or client communication portal) with the processor, LO, and client account managers in a professional manner in order to assist in moving files to a final underwriting approval in alignment with the Close of Escrow and/or lock expiration dates.

- Concise and accurate input of data into the LOS

- Accurately analyze AUS (FNMA, FHLMC) results

- Complete a comprehensive review and sign off of appraisals, SSR’s (CU, LCA) and CDAs

- Clear conditions while meeting turn-time requirements

- Maintain acceptable quality control and post-closing error metrics

- Ability to train and mentor peers

- Support and work on multiple loans for one borrower. You could have up to ten (10) loans for 1 borrower.

- Evaluate Non-QM loan applications to ensure compliance with client, investor guidelines, overlays, and company policies

- Identify and mitigate potential risks associated with Non-QM loans

- Read and interpret multiple sets of client and investor underwriting guidelines

IDEALLY, YOU’LL HAVE

- 5+ years recent, hands-on experience in Non-QM underwriting

- Experience with Non-QM loan origination systems and software

- Experience and demonstrated ability to calculate full and alternative document income methods (DSCR, 1099, asset utilization, asset depletion, 12 and 24-month bank statement, tax returns, VOE, P&L, short-/long-term rental income - or any combination thereof which could also include W2, OT, bonus, and commission, Retirement, SSN, Alimony, child support, monthly maintenance)

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Compensation Range: $36.06/hr - $38.46/hr depending on experience.

WHAT WE OFFER YOU

Here, you get an opportunity to be a vital part of an agile team of