Jumbo Underwriter

Responsibilities

• Research and/or address audits or other concerns identified during the preparation for Redwood securitization
• Provide support and required documentation to all parties requiring access to due diligence results
• Review external 3rd party grading and conditions for appropriateness and submit rebuttals, as necessary
• Clear any deficiencies before securitization and develop tables used for securitization
• Validate the sales tape against the file data and documentation for accuracy
• Validate the pre-sales tape against the file data and documentation for accuracy
• Research and reconcile investor escalations
• Review identified loan deficiencies and provide resolution or compensating factors
• Review exceptions and defects identified by the due diligence company – same as Due Diligence Jumbo Underwriting tasks
• Create reports for management and sales
• Ability to analyze the underwriting of conventional mortgage loans in a timely manner for completeness and compliance with Redwood purchase guidelines and approved Seller variances. Use of AUS and manual underwriting requires strong attention to detail
• Manage loan conditions from credit, property, and compliance reviews with Sellers and external 3rd party service due diligence providers
• Evaluate and provide recommendations for underwriting waivers and eligibility exceptions
• Clearly communicate, in written and verbal form, compensating factors to justify exceptions
• Provide support to Redwood Sellers by evaluating and supplying feedback on loan scenarios, at times based on limited information
• Understand and effectively work with Seller variances to product eligibility and underwriting guidelines
• Participate in and provide clear feedback on credit policy recommendations
• Maintain strong knowledge of mortgage compliance rules agency underwriting guidelines and industry standards for appraisal requirements and regulatory compliance
• Participate in evaluating current loan review processes and provide feedback and recommendations to increase efficiency and risk management capabilities
• Consistently access third party services (valuation, fraud, compliance) to provide valuable input for loan decisions
• Process pre-close appraisal review requests between seller and 3rd party vendor to ensure service level agreements are maintained
• Research and/or address audits or other concerns identified during the preparation for Redwood securitizations
• Provide required documentation and support activities for all parties requiring access to diligence results

Requirements

• 10+ years of mortgage industry experience
• 5+ years agency underwriting experience
• 2+ years of jumbo underwriting or complex income analysis preferred
• Expert underwriting knowledge and extensive experience with loan origination documentation
• Tech-savvy, with the ability to work in varied systems. Proficiency with Excel, loan origination systems, automated underwriting engines, electronic document management and other systems
• High attention to detail and effective problem-solving skills
• Excellent client service skills
• Excellent oral and written communication skills
• Analytical thinking ability, diplomacy and professionalism

Pay

A reasonable estimate of the compensation range for this role is $85K – $115K annually. The actual salary offer to the successful candidate will be based on job-related education, geographic location, training, licensure and certification, and other factors.

Benefits

Redwood also offers a competitive benefit package including discretionary corporate bonus program, multiple health plans, STD and LTD options, company sponsored life insurance, fitness reimbursement, paid parental leave, time to volunteer, Paid Time off, ESPP, and 401K matching.