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Non-QM Underwriter

Remote

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.

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