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Underwriting Specialist

Charlotte, NC

About Figure

Figure is revolutionizing financial services with its disruptive technology platform. Our flagship product is the #1 non-bank HELOC in America. We’re delivering new consumer lending products and a capital markets ecosystem that maximize efficiency and transparency – by capitalizing on our loan origination activities, extensive network of partners, and growing pool of assets.

Join a team of 450+ people at Figure who have originated $11+ billion in loan volume. We’re very profitable and growing fast!

Figure has raised $469 million from top investors like Ribbit Capital, DST, Apollo, and Morgan Creek.

FastCo Most Innovative Companies

Forbes Top 50 Blockchain Companies

About the Role

Figure is looking for an Underwriter Specialist to join our dynamic team. This role will be key in developing and maintaining underwriting processes and ensuring our loan products adhere to all regulatory and internal standards. The ideal candidate will bring expertise in underwriting various loan products and contribute to enhancing operational efficiency and product innovation.

What You’ll Do

  • Review and underwrite loan applications, ensuring compliance with company policies, investor guidelines, and applicable regulations.
  • Apply underwriting guidelines for diverse loan products, including those for Self-Employed borrowers, Trusts, LLCs (Limited Liability Companies), POA Power of Attorney), and DSCR (Debt Service Coverage Ratio).
  • Analyze complex financial data, such as tax returns, income statements, and business documentation, to make informed lending decisions.
  • Collaborate with the Senior Operations Manager and underwriting team to develop and refine underwriting guidelines for new products.
  • Monitor key performance metrics for underwriting accuracy, efficiency, and compliance.
  • Provide feedback on loan applications and collaborate with cross-functional teams (e.g., Product, Legal, Credit) to resolve issues and ensure seamless loan processing.
  • Ensure accuracy and completeness of loan documentation, including reviewing credit, collateral, and income verification.
  • Help create and maintain training materials, underwriting procedures, and compliance documentation.
  • Stay current with industry regulations, investor requirements, and best practices related to underwriting.
  • Support efforts to improve underwriting efficiency, quality, and compliance across new loan products.
  • Assist in responding to loan repurchase requests, underwriting deficiencies, and any other challenges that arise.

What We Look For

  • 3+ years of underwriting experience, with a focus on conventional, portfolio, and special program loans.
  • Expertise in underwriting guidelines, including Self-Employed borrowers, Trusts, LLCs, Powers of Attorney (POA), and Debt Service Coverage Ratios (DSCR).
  • Familiarity with underwriting tools and systems (e.g., DU, LP), as well as proficiency in Google Workspace and/or Microsoft Office Suite.
  • Knowledge of federal and state regulations, including those set by the CFPB, FHA, VA, and other relevant bodies.
  • Ability to analyze and interpret financial data and make independent underwriting decisions.
  • Strong attention to detail and the ability to manage multiple tasks in a fast-paced environment.
  • Excellent organizational, communication, and time management skills.
  • Ability to work collaboratively across teams to resolve issues and ensure the timely processing of loans.
  • Bachelor’s degree in Business, Finance, or a related field preferred.
  • Ability to thrive in a dynamic, startup-like environment.

Salary

  • Compensation Range: $70,000 - $82,000
  • Quarterly 25% bonus target
  • Equity stock options package
  • This is the compensation range for the United States, actual compensation may vary based on individual candidate experience, location, or evolving business needs

Benefits

  • Comprehensive health, vision, and dental insurance with 100% employer-paid premiums for employees and their dependents on select plans
  • Company HSA, FSA, Dependent Care, 401k, and commuter benefits
  • Employer-funded life and disability insurance coverage
  • 11 Observed Holidays & PTO plan
  • Up to 12 weeks paid family leave
  • Continuing education reimbursement

Depending on your residential location certain laws might regulate the way Figure manages applicant data. California Residents, please review our California Employee and General Workforce Privacy Notice for further information. By submitting your application, you are agreeing  and acknowledging that you have read and understand the above notice.

Figure will not sponsor work visas for this position. In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification form upon hire. 

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