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Underwriter - NQM

McLean, Virigina · Accounting/Finance
INCOME

Base $80,000 - $110,000
Sign On Bonus > $15,000 - $20,000

COMPANY SUMMARY
 
This residential mortgage lender, is owned by an Investment Trust, a publicly traded REIT, and other funds under management, a privately-held investment advisor with approximately $33B of assets under management. This Lender, is a full service, national lender that is an approved Fannie Mae, Freddie Mac and Ginnie Mae seller / servicer.  With a strong non-QM product set as a result of its relationship with certain parties and a seasoned management team, the company is planning for substantial growth.  


NON QM UNDERWRITER

The Company is seeking a NQM Underwriter. The position will report to the NQM Team Leader and be responsible for underwriting Non-Agency/NQM mortgage loans and performing credit analysis to ensure compliance with corporate and secondary market investor standards.
 
We are offering a $15,000 Sign on bonus
$7,500 at 180 days of employment
$7,500 at 270 days of employment 

ESSENTIAL JOB FUNCTIONS

 
  • Manually underwrite Non-Agency/Non-QM correspondent, wholesale/broker and retail loans in a timely manner to ensure loan meets all product and property guidelines of Company and investors, as well as meeting all established loan policies, credit limits and regulatory requirements;
  • Provide scenario underwriting for clients inquiring through the Company’s scenario desk, including, but not limited to, calculating income derived from assets, coordinating exception requests with capital markets & investors, and assisting clients in structuring non-QM deals;
  • Analyze borrower’s credit file, collateral and capacity to ensure credit-worthiness;
  • Be the subject matter expert (SME) in structuring non-QM loans for the Company’s third-party originators and internal salesforce;
  • Clear conditions timely on loans; affirm data integrity on all submissions;
  • Identify and escalate to management any suspected or actual misrepresentation or fraud perpetrated by the prospective borrower, Loan Officer or third-party originator;
  • Enter and maintain copious documentation of each case file within the Company’s LOS pertaining to the eligibility of the loan, including compensating factors, scenario desk results, fully completed Loan Transmittals (1008), system notes and accurate data entry; and
  • Keep up-to-date with all guideline changes and system enhancements.
 

POSITION QUALIFICATIONS (EDUCATION AND/OR EXPERIENCE AND SKILLS)

  • Working knowledge of Non-Agency/NQM underwriting guidelines demonstrated through a minimum of 2+ years underwriting experience on Non-Agency/NQM products.
  • Experience in either Wholesale or Non-Delegated Correspondent channels
  • FHA and VA underwriting experience is desirable.
  • High attention to detail and effective problem-solving skills.
  • Ability to work independently, with minimal supervision.
  • Ability to multitask in a high-volume environment.
  • Excellent written and oral communication skills.
  • Continuous focus on the customer experience.
  • Willingness to directly communicate with broker / correspondent clients regarding underwriting results and the disposition of loans

BENEFITS
  • MEDICAL 
  • DENTAL  
  • VISION
  • LIFE/DISABILITY
  • HSA
  • 401K - Up to 4 % Match. 1st of the month after 60 days
  • PTO - 13 Days
  • 8 Holidays 

BONUS STRUCTURE:

Monthly bonus for UW:  
  • $25 per final decision (clear-to-close and denials) for conventional conforming,
  • FHA, and VA loans; and $37.50 for all non-conforming loans such as jumbo and NQM loans, less applicable taxes and other appropriate withholdings
  • Bonuses shall be paid out on the 2nd payroll of each month following the date of the final loan decision.

More Openings

Disclosure Lead
Funder
Tax Accountant
Funder / Closer

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