Mortgage Underwriter
Who we are
Tomo is an AI-powered mortgage bank on a mission to eliminate the greed and complexity in home lending. Our technology makes the process of buying a home faster, less frustrating, and way less expensive. By passing these savings directly to homebuyers, we eliminate the excessive fees and inflated rates that cost Americans billions each year. Tomo is backed by Progressive Insurance, Citi Ventures and other top-tier investors, on track to be one of the biggest lenders in America.
We are intentional about who joins our rapidly growing team—we seek ambitious, team-oriented, and driven individuals who embrace the effort required to win. At Tomo, we seek teammates who have a pattern of success in their lives —whether demonstrated through work, academics, athletics, or personal endeavors. Tomowners lean into the company culture, are energized by our mission and want to have fun at work.
As a Mortgage Loan Underwriter, you will have the opportunity to join Tomo’s growing mortgage operations team! Leveraging established underwriting guidelines, you will evaluate borrower financial and credit information along with property valuations to inform lending decisions. Our underwriters will collaborate closely with all members of the operations team throughout the process to bring loans to closing, without having to speak directly to the borrower. We are looking for resourceful Underwriters who can make guidelines fit the borrower, not the borrowers fit the guidelines.
Beyond producing high quality loans, our goal is to build a memorable experience that will ensure our customers enjoy the home buying process. With offices in Detroit, Seattle and Stamford, CT, we are quickly expanding in order to deliver a once-in-a-lifetime experience through a combination of technology and excellent service
You Will:- Underwrite and decision residential agency conforming mortgage loans
- Verify and analyze all necessary financial information and documentation; ensure that loan files contain all necessary credit and legal documents
- Review appraisal reports to identify and resolve any discrepancies discovered within
- Perform thorough analysis of applicant's income and expense data, asset documentation, credit reports, and property valuations in order to affirm borrower qualifies for loan
- Calculate qualifying ratios, determine creditworthiness; provide risk opinions
- Maintain proactive review of pipeline
You’ll Need:
- 7+ years of experience underwriting Fannie Mae and/or Freddie Mac
- Knowledge of Desktop Underwriter (DU) & Loan Prospector/Loan Product Advisor (LP/LPA)
- Understanding of the mortgage lending process
- Ability to carry out loan calculations (DTI, LTV, etc.)
- Ability to handle multiple files simultaneously
- Strong written and verbal communication
- Perform well in team environments
- The drive to build something new
- Leadership experience a plus
You Might Also Have:
- VA LAPP/SAR/DE Certifications
- Experience working with Fannie Mae and/or Freddie Mac
The expected annual compensation for this position will be between
$85,000 - $100,000 USD
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