Non-QM Underwriter
Budget / Salary$36.06–38.46
TypeFull-time job
LocationUnited States
Posted2 hours ago
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.
Originally posted on Himalayas
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.
Originally posted on Himalayas
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