Description
- Lead and manage the underwriting team, ensuring productivity, quality, and compliance with internal and external guidelines for Non-QM loans.
- Serve as a subject matter expert, providing guidance on structuring eligible loans, interpreting product guidelines, and offering appropriate loan solutions for brokers and third-party originators.
- Oversee the analysis of borrower credit files, collateral, and capacity, ensuring loans meet all creditworthiness and risk mitigation standards.
- Review and render decisions on complex underwriting scenarios, including but not limited to DSCR loans, bank statement programs, P&L loans, Foreign Nationals, and ITIN loans.
- Ensure timely and accurate underwriting of Non-QM loans while meeting company policies, regulatory requirements, and internal guidelines.
- Supervise the clearance of loan conditions, ensuring all data integrity is maintained and necessary documentation is complete.
- Monitor and report on underwriting performance, identifying areas for improvement, providing coaching, and conducting regular team performance reviews.
- Identify and mitigate potential risks, such as fraud or misrepresentation, and take appropriate corrective actions as needed.
Requirements
- 5+ years of experience underwriting Non-QM loans, including DSCR, bank statement, P&L loans, Foreign Nationals, and ITIN programs.
- Proven experience in a leadership role, including managing underwriting teams.
- Expertise in manual underwriting and DTI calculations for various loan programs.
- Strong working knowledge of Meridian Link, Lending QB, or similar loan origination systems.
- Excellent analytical skills with the ability to evaluate complex financial data and assess borrower risk.
- Exceptional verbal and written communication skills with a focus on delivering excellent customer service in a fast-paced environment.
- Ability to make well-informed, sound decisions while balancing risk and profitability.
- Highly organized, detail-oriented, and able to work under pressure to meet deadlines.