Jumbo/Non-QM Underwriter

U.S. Remote – must be able to work until 3pm PST

About the role

Primary responsibilities include providing thorough evaluation of credit and property documents in loan files, identifying potential risks, and advising on the appropriate decision—approving, declining, or suspending the loan—based on New American Funding's underwriting guidelines concerning borrower eligibility and investors' requirements. You will maintain underwriting turn times, collaborate with processors and loan officers to provide case-by-case guidance, and stay current with guidelines from Fannie Mae, Freddie Mac, Appendix Q, and multiple delegated Jumbo investors.

Responsibilities

• Review all loan submissions from production and origination staff and generate initial credit decisions in accordance with FNMA, FHLMC, Non-Agency Jumbo, New American Funding Non-QM, and other private investor guidelines, as well as internal overlays.
• Underwrite to multiple Non-Agency Jumbo investors in a changing market and regulatory environment.
• Evaluate mortgage loan applications to determine eligibility, acceptability, and compliance with applicable state, federal, and investor guidelines.
• Perform credit and property analysis on conventional and Non-Agency Jumbo files.
• Analyze complex tax returns and accurately calculate income.
• Identify key loan factors impacting borrower eligibility, property eligibility, and credit qualification for complex or atypical financial profiles, collateral, and loan structures.
• Perform timely reviews of submitted conditions and loan resubmissions; complete credit decisions for complex loans assumed from colleagues.
• Identify and summarize Exception loans for escalation to Credit Manager for business decisions.
• Input data and notes into the Encompass loan system.
• Maintain quality and production standards as set by management.
• Communicate decisions effectively—verbally, in writing, and via email—to maintain positive working relationships with coworkers and customers.
• Explain specific reasons for negative credit decisions and recommend possible solutions.
• Perform other duties as assigned.

Requirements

• Non-conforming/Non-Agency Jumbo underwriting experience.
• Superior knowledge of and experience with property and credit underwriting requirements of FNMA, FHLMC, Non-Agency Jumbo, and other private investor guidelines, as well as other loan programs and private mortgage insurance companies.
• Excellent written and oral communication skills.
• Superior analytical, organizational, and problem-solving abilities.
• Ability to work independently, analyze data, and take or recommend appropriate actions with minimal supervision.
• Capability to work in a fast-paced environment under pressure, meet time-sensitive deadlines, and maintain a high level of professionalism.

Qualifications

• High School Diploma or equivalent.
• Five or more years of mortgage underwriting experience with Non-Conforming or Non-Agency Jumbo loans.
• Experience with Encompass 360.
• Must be able to verify identity and employment eligibility to work in the U.S.

Physical Demands

The physical demands described are representative of those required to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform these functions.

• Must be able to lift up to ten pounds.
• Primary functions require sufficient physical ability and mobility to work in an office setting; to stand or sit for prolonged periods; to occasionally stoop, bend, kneel, crouch, reach, and twist; to lift, carry, push, and/or pull light to moderate amounts of weight.
• Operate office equipment requiring repetitive hand movement and fine coordination, including use of a keyboard.
• Verbally communicate to exchange information.
• See in the normal visual range with or without correction.
• Hear in the normal audio range with or without correction.

Pay

$110k+/year DOE + bonus