About this role
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)
- 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 thinkers and doers collaborating to change a multi-trillion dollar industry. We offer meaningful equity, a competitive salary, top-tier medical, dental, and vision insurance, flexible work hours, and vacation time.