Jumbo Non QM Underwriter
About the role
Rate is one of the nation’s top retail mortgage lenders, delivering a seamless, tech-driven experience that helps customers reach their homeownership and financial goals. Founded in 2000 and based in Chicago, Rate is licensed in all 50 states and D.C. and has helped over 2 million homeowners with a wide range of loan products, competitive rates and personalized service. With 5,000+ employees across 300+ offices and 12+ subsidiaries, Rate’s Loan Officers rank among the best in the country. From purchases and refinances to tapping into equity, Rate makes financing faster, simpler and less stressful. Our technology — including Same Day Mortgage, the Rate App, FlashClose℠, MyAccount and the Language Access Program — has earned recognition from HousingWire, Scotsman Guide, NerdWallet, the Chicago Tribune and Crain’s Chicago Business.
Responsibilities
- Underwrite residential loans ensuring compliance with appropriate company and investor standards
- Examine loan documentations for accuracy and completeness while working with loan originator or production staff to secure all required documents
- Handle one or several types of mortgage lending (conventional, government-backed, etc.)
- Work with senior mortgage underwriters on loan exceptions and have the authority to withdraw and decline loans
- Respond directly to individual and investor audits
- Manage all levels of underwriting authority and exception levels
Qualifications
- Non-QM underwriting experience
- 5+ years of mortgage underwriting experience
- 5+ years of FHA/VA, Conventional, and USD/RD underwriting experience
- Experience with underwriting to multiple lender guidelines and requirements
- Knowledge of Non-QM underwriting requirements, including but not limited to full doc, DSCR, bank statement loans, and other alternative loan doc products
- Ability to critically examine credit, income and asset documents and review title policy and appraisals
Pay
Pay Range: $85,000 to $100,000 + Bonus