Underwriting Specialist

About the role

The Underwriting Specialist will play a crucial role in developing and maintaining underwriting processes and ensuring loan products comply with all regulatory and internal standards. Key responsibilities include reviewing and underwriting loan applications, applying underwriting guidelines for various loan products, analyzing financial data, collaborating with cross-functional teams, and supporting the development of new products.

Responsibilities

• Review and underwrite loan applications, ensuring compliance with company policies, investor guidelines, and applicable regulations.
• Apply underwriting guidelines for diverse loan products, including Self-Employed borrowers, Trusts, LLCs, POA Power of Attorney, and DSCR (Debt Service Coverage Ratio).
• Analyze complex financial data, such as tax returns, income statements, and business documentation, to make informed lending decisions.
• Collaborate with the Senior Operations Manager and underwriting team to develop and refine underwriting guidelines for new products.
• Maintain key performance metrics for underwriting accuracy, efficiency, and compliance.
• Provide feedback on loan applications and collaborate with cross-functional teams to resolve issues and ensure seamless loan processing.
• Ensure accuracy and completeness of loan documentation, including reviewing credit, collateral, and income verification.
• Create and maintain training materials, underwriting procedures, and compliance documentation.
• Stay current with industry regulations, investor requirements, and best practices related to underwriting.
• Support efforts to improve underwriting efficiency, quality, and compliance across new loan products.
• Assist in responding to loan repurchase requests, underwriting deficiencies, and other challenges that arise.

Requirements

• 3+ years of underwriting experience, focusing on conventional, portfolio, and special program loans.
• Expertise in underwriting guidelines, including Self-Employed borrowers, Trusts, LLCs, POA, and DSCR.
• Familiarity with underwriting tools and systems (e.g., DU, LP), as well as proficiency in Google Workspace and/or Microsoft Office Suite.
• Knowledge of federal and state regulations, including those set by the CFPB, FHA, VA, and other relevant bodies.
• Ability to analyze and interpret financial data and make independent underwriting decisions.
• Strong attention to detail and the ability to manage multiple tasks in a fast-paced environment.
• Excellent organizational, communication, and time management skills.
• Ability to work collaboratively across teams to resolve issues and ensure the timely processing of loans.

Qualifications

• Bachelor’s degree in Business, Finance, or a related field preferred.
• Experience working in a dynamic, startup-like environment.
• Adherence to all company security policies and data handling procedures.
• Completion of mandatory security awareness training within required timeframes.
• Promptly reporting any suspected security incidents or suspicious activity to the Security team.

Skills

• Proficiency in Google Workspace and/or Microsoft Office Suite.
• Knowledge of federal and state regulations, including those set by the CFPB, FHA, VA, and other relevant bodies.
• Ability to analyze and interpret financial data and make independent underwriting decisions.
• Strong attention to detail and the ability to manage multiple tasks in a fast-paced environment.
• Excellent organizational, communication, and time management skills.
• Collaborative skills to work effectively with cross-functional teams.

Benefits

• Comprehensive medical, dental, and vision coverage, with 100% employer-paid premiums for employees and their dependents on select plans.
• Company HSA, FSA, Dependent Care FSA, 401(k), and commuter benefits.
• Employer-paid life and disability insurance.
• Up to 12 weeks of paid family leave.
• Continuing education reimbursement.