Job Description
I. OVERVIEW:
Under the direction of the Director of Underwriting, lead and direct the activities of the Regional Non-QM Jumbo Underwriting team and collaborate with Regional and Branch Production partners. Responsible for overseeing the day-to-day underwriting analysis of Non-QM, Jumbo, and other non-Agency loan applications to determine credit risk acceptability and, when necessary, make escalated final decisions to approve or deny loan approval requests. This position is responsible for ensuring consistent credit quality, sound risk management, investor guideline adherence, and operational excellence within the Regional Non-QM Jumbo Underwriting Department.
II. EXPECTATIONS:
- Ensure all underwriting processes are completed timely and in compliance with Company policies, investor guidelines, regulatory requirements, and established service level agreements.
- Oversee underwriting operations for Non-QM, Jumbo, Expanded Prime, Bank Statement, DSCR, Asset Utilization, Interest-Only, and other specialty loan products, ensuring consistent credit quality and sound underwriting decisions.
- Analyze escalated Non-QM and Jumbo loan applications to assess complex borrower profiles, layered risk characteristics, compensating factors, and investor eligibility.
- Analyze escalated appraisals, including complex and high-balance properties, for compliance with investor and appraisal requirements.
- Serve as the regional subject matter expert for Non-QM, Jumbo, and specialty investor guidelines, while maintaining advanced knowledge of Agency guidelines when applicable.
- Collaborate with Regional Managers, Branch Managers, Loan Officers, Secondary Marketing, Capital Markets, and Operations to structure complex loans while balancing credit quality and production objectives.
- Monitor investor overlays, product updates, and regulatory changes, ensuring underwriting staff remain current on evolving guidelines.
- Provide Director of Underwriting with team performance metrics and recommendations for continuous process improvement, efficiency, productivity, and quality.
- Coordinate with the Director of Underwriting and Director of Operations to establish departmental goals and performance objectives.
- Partner with QA, QC, Risk Management, Secondary Marketing, Post-Closing, and Capital Markets to resolve underwriting issues and maintain portfolio quality.
- Perform second-level reviews of selected, suspended, and denied loan files.
- Identify underwriting trends, recommend policy enhancements, and implement best practices across the Non-QM Jumbo underwriting team.
- Perform employee performance reviews, coaching, performance improvement planning, hiring recommendations, onboarding, and ongoing professional development.
- Ensure team members remain fully trained on investor guidelines, regulatory requirements, company policies, and emerging Non-QM lending products.
- Underwrite complex loan files and audit underwriting decisions as necessary.
- Other duties as assigned.
III. REQUIRED EXPERIENCE & KNOWLEDGE:
- Bachelor’s degree or equivalent work experience required.
- Minimum 15 years of mortgage banking experience, including at least 10 years of mortgage underwriting experience.
- Minimum 5 years of underwriting management or supervisory experience.
- Minimum 3 years of direct experience underwriting Non-QM and Jumbo mortgage products required.
- Demonstrated experience managing or leading a Non-QM/Jumbo underwriting team strongly preferred.
- Extensive experience underwriting:
- Non-QM products
- Jumbo loans
- Bank Statement loans
- DSCR loans
- Asset Utilization loans
- Interest-Only products
- Other specialty portfolio lending products
- Advanced knowledge of investor-specific underwriting guidelines, overlays, and credit risk analysis for Non-QM and Jumbo lending.
- Strong understanding of Agency guidelines (FNMA/FHLMC), as well as private investor and portfolio lending requirements.
- Experience working with Secondary Marketing and Capital Markets regarding investor guideline interpretation and loan salability preferred.
- Preferred but not required: DE and/or VA SAR certifications
- Proven leadership, coaching, administrative, analytical, and decision-making skills.
- Excellent written and verbal communication skills.
- Excellent organizational and time management skills.
- Ability to independently manage multiple priorities in a fast-paced production environment.
- Demonstrated ability to build strong relationships with branch leadership, executive management, operations, secondary marketing, and external investors.
- Demonstrated sound judgment, independent decision-making, and a strong commitment to balancing production goals with prudent credit risk management.
DISCLAIMER: The above statements are intended to describe the general nature and level of work being performed by individuals assigned to this position and are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required. Responsibilities may be modified or changed at the discretion of the Company.
