Senior Non-QM Loan Underwriter

2 weeks ago


Corona, California, United States Paramount Residential Mortgage Group Full time

Position Overview:
As a key player in the underwriting process, you will be tasked with the careful evaluation of Non-QM loans, ensuring adherence to both company and investor standards.

Core Responsibilities:

  • Effective Communication: Act as a liaison between borrowers, investors, and escrow entities to relay loan decisions.
  • Organizational Skills: Guarantee that loan files are comprehensive and all outstanding matters are resolved.
  • Technical Proficiency: Utilize office equipment including computers, copiers, and FAX machines efficiently.
  • Physical Requirements: Ability to sit for prolonged periods, with normal hearing and vision capabilities.

Key Duties:

  • Conduct a detailed analysis of loan files to ensure compliance with established guidelines.
  • Assess the complete credit package and collateral for residential mortgage loans, ensuring a high-quality investment product.
  • Verify the accuracy of calculations and maintain data integrity.
  • Complete all necessary underwriting worksheets as outlined in the FastTrac 360 Resource Center.
  • Advise the underwriting manager on loan dispositions for amounts exceeding authority limits.
  • Maintain productivity standards and adhere to a 48-hour underwriting turnaround time, with a 24-hour turnaround for clearing conditions.
  • Aim to achieve two decisions per day within the designated timeframe.
  • Communicate loan decisions to relevant parties both verbally and in writing.
  • Keep underwriting activity logs and submit monthly reports to the underwriting manager.
  • Perform frontline underwriting for Non-QM loan products.
  • Conduct thorough evaluations of applicants' income, expenses, asset documentation, credit reports, and property valuations.
  • Engage in manual underwriting, demonstrating familiarity with various loan programs.
  • Execute appraisal analyses to confirm compliance with acceptable collateral standards.
  • Be available to processors for guideline interpretations and inquiries regarding specific loan files.
  • Respond promptly to post-closing reviews and audits.
  • Carry out additional duties as directed by the Underwriting or Operations Manager.

Qualifications:

  • A minimum of five years of recent experience in NON-QM mortgage underwriting, with a solid understanding of underwriting guidelines including FNMA, FHLMC, and NON-QM Investors.
  • Proficient in reviewing and calculating complex personal and/or business financials and tax profiles.
  • Exceptional written and verbal communication skills.
  • Experience in a fast-paced team environment.
  • Encompass loan origination system experience required (5+ years).

Skills:

  • Strong interpersonal and business relationship skills.
  • Detail-oriented with a focus on accuracy.
  • Technologically adept in MS Windows software.

Education:

  • High school diploma or equivalent.

Travel Requirements:

  • No travel required.

Compensation:

Salary range: USD $70,000.00 - $95,000.00 per year.



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