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Collateral Underwriter

US | Remote

Lendz Financial offers a full-service direct wholesale residential mortgage lending platform, focused on helping mortgage brokers grow their loan origination volume with simplified processes and intuitive, tech-based solutions. We emphasize a modern, customer-centric approach, offering competitive rates, a diverse range of products, and rapid turnaround times. Committed to delivering a world-class experience for our broker partners, we streamline the lending process to ensure a smooth journey from application to closing. Our core values—Thrive Together, Act Like an Owner, and Exceed Expectations—cultivate a collaborative, high-performance culture that drives our pursuit to become the undeniable leader in mortgage lending. Lendz is proud to be certified as a Great Place to Work!

Job Summary:
Lendz Financial is seeking a detail-oriented and experienced Non-QM Underwriter to join our dynamic and growing team. This position is responsible for the thorough review and analysis of Collateral and Condominium documentation, with a primary focus on Non-QM loan products. The ideal candidate will possess in-depth knowledge of appraisal review, condo project eligibility, and investor-specific guidelines, ensuring compliance, accuracy, and risk mitigation throughout the underwriting process

Responsibilities:

  • Review and analyze appraisal reports: Thoroughly examine appraisal reports to ensure compliance with lending standards and investor guidelines (e.g., Fannie Mae, FHA, VA).
  • Evaluate collateral: Assess property marketability and confirm valuation accuracy based on appraisal findings and comparable sales.
  • Identify and address discrepancies: Investigate and resolve red flags or inconsistencies within appraisal documentation.
  • Manage appraisal pipeline: Efficiently handle a high volume of appraisal reviews while meeting tight deadlines.
  • Request and review revisions: Order and assess appraisal revisions, desk reviews, or field reviews when necessary.
  • Communicate decisions: Clearly communicate appraisal outcomes and required conditions to loan officers, processors, and branch personnel, including reasons for suspense or denial.
  • Stay current on guidelines: Maintain up-to-date knowledge of agency and investor requirements as well as regulatory changes impacting collateral underwriting.
  • Collaborate across departments: Partner with internal teams, such as post-closing, to resolve collateral-related issues.
  • Ensure documentation accuracy: Maintain meticulous attention to detail to ensure all appraisal-related documentation is accurate, complete, and compliant.

Project Review Responsibilities:

  • Review project documentation: Analyze condominium project documentation to ensure alignment with internal policies and agency guidelines (e.g., Fannie Mae, Freddie Mac, FHA, VA).
  • Assess project risk: Evaluate the financial health, legal structure, and other key factors to determine the risk associated with a condominium project.
  • Verify compliance: Confirm the project meets applicable agency and investor eligibility requirements.

Qualifications:

  • Minimum 5 years of mortgage underwriting experience required
  • At least 2 years of hands-on Non-QM underwriting experience
  • Expertise in analyzing complex income sources including:
    • Bank Statement Programs
    • Self-employed borrower income
    • Business financial documentation
  • Familiarity with common Non-QM programs such as DSCR, Asset Utilization, and 1099-only products
  • Excellent communication skills and a collaborative mindset
  • Strong time management and the ability to prioritize in a fast-paced environment
  • Proven problem-solving abilities and sound judgment in loan decisioning

Benefits:

  • Highly subsidized medical insurance
  • Low-cost dental and vision insurance
  • 401(k) program
  • Health Savings Account (HSA)
  • Generous paid time off and company holidays
  • Learning and development opportunities
  • Friendly, collaborative work environment

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