CAKE Mortgage is a cutting-edge wholesale mortgage lender specializing in Non-QM products. We're redefining the lending experience with innovative programs, streamlined processes, and a commitment to speed and precision. As we grow, we're looking for forward-thinking professionals who thrive in fast-paced, collaborative environments.

We are looking for an experienced Mortgage Exceptions Underwriter to assess and approve loan files that require deviations from standard underwriting guidelines. This role demands strong analytical skills, in-depth knowledge of mortgage lending practices, and the ability to apply sound judgment when evaluating exception requests. The ideal candidate will balance risk management with business needs to ensure high-quality loan decisions and maintain investor and regulatory compliance.

Key Responsibilities

• Review and analyze mortgage loan files that require exceptions to credit policy or investor guidelines.
• Assess risk by evaluating borrower credit, income, assets, and property characteristics.
• Make lending decisions based on compensating factors and overall loan quality.
• Clearly document underwriting decisions, especially rationale for approved exceptions.
• Communicate effectively with processors, originators, and account executives regarding decisions or needed documentation.
• Stay current on agency (Fannie Mae, Freddie Mac), FHA, VA, USDA, and Non-QM guidelines.
• Collaborate with underwriting managers and credit policy teams to identify trends or update policies.
• Ensure all underwriting complies with internal policies, investor overlays, and federal/state regulations.
• Handle escalated or complex loan files and support other underwriters with exception guidance. 

• 3+ years of residential mortgage underwriting experience.
• Solid knowledge of Fannie Mae, Freddie Mac, FHA, VA, USDA, and/or Non-QM underwriting guidelines.
• Demonstrated experience reviewing and decisioning exception requests.
• Strong understanding of loan documentation (income, assets, credit, collateral).
• Experience working in Encompass (LOS)
• Familiarity with AUS tools (DU, LP) and manual underwriting practices.

Why Join CAKE Mortgage?

• Be part of a fast-growing company changing the game in Non-QM.
• Competitive compensation and performance-based bonuses.
• Collaborative and entrepreneurial culture.
• Opportunities for career advancement and innovation.

Cake Mortgage does not tolerate discrimination of any type. Cake Mortgage offers equal employment opportunity to all qualified persons without regard to race, age, color, religion, sex/gender, gender identity, sexual orientation, marital status, medical condition, military or veteran status, national origin, ancestry, disability, or any other considerations made unlawful by Federal, State, or Local law. Cake Mortgage provides eligible and qualified employees with opportunities to advance. Cake Mortgage is an at will employer. Cake Mortgage is committed to providing employees with a work environment free of discrimination and harassment.