Contract Due Diligence Underwriter

Maxwell; United States; Remote; USD 100,000 - 150,000; Part time

Job summary

Maxwell is seeking a Contract Due Diligence Underwriter to review multi-state Non-QM, Conventional, Jumbo, Government, Correspondent, and business purpose loan packages. You will protect loan integrity by verifying documents, evaluating investor guidelines, and analyzing income to ensure repayment ability.

Ideal candidates have 5+ years in underwriting, strong LauraMac experience, and solid QC background. This is a contract, per-file role with a fast-paced mortgage environment and continuous

Qualifications

• Strong working knowledge and experience in the LauraMac Due Diligence software system.

Responsibilities

• Review mortgage loan files to ensure the accuracy of the information and verify the presence of all required documents
• Perform due diligence review of the residential mortgage loan application and documentation as submitted to ensure loans meet specific investor/product guidelines and AUS requirements as applicable
• Analyze borrower's credit profile, collateral, and capacity to repay the proposed mortgage obligation, including accurately calculating income and ensuring the borrower's ability to repay
• Properly calculate and analyze loan-to-value ratios and debt carried
• Analyze purchase contracts, title commitments, and other loan-pertinent documentation
• Enter review results into the company's proprietary software
• Execute risk analysis and make decisions regarding deficiencies identified during the review process, recommending resolution
• Stay current on all agency, state, and multiple investor guidelines
• Participate in ongoing training as the industry evolves
• Manage time efficiently and prioritize workloads to meet minimum daily production goals
• Clear QA feedback and perform within department audit standards
• Adhere to the company's Core Values
• Other duties as assigned by manager

Skills

LauraMac Due Diligence

Underwriting

Quality Control

Due Diligence

Non-QM

DSCR loans

Income calculation

Analytical skills

Communication skills

Pipeline management

Tools

LauraMac

Job description

Maxwell was founded in 2015 by homebuyers who were shocked by the complexity and inefficiencies of the mortgage process for borrowers and lending teams alike. We've built a platform that has not only streamlined the process and made it more efficient - closing loans 45%+ faster - but has made mortgages more accessible in the process. Our mission is clear: democratize mortgages by helping lenders work more efficiently and stay compliant while eliminating the barrier to entry and the stress for the borrower.

This is YOUR CHANCE to bring rigor and precision to a mission that's reshaping how mortgages get made. As our Contract Due Diligence Underwriter, you'll dig into multi-state Non-QM, Conventional, Jumbo, Government, Correspondent, and business purpose loan packages, protecting the integrity of the loan manufacturing process for both purchases and refinances. If you thrive on detail, believe compliance and efficiency aren't at odds, and want to help spread financial empowerment, this is your Maxwell.

What You're Great At:

You are someone who enjoys digging in to ensure loan files are accurate and compliant with regulatory standards. You understand what's needed to properly investigate inconsistencies in loan files to protect against fraud, negligence, errors, and omissions. Specifically, you bring:

• Strong working knowledge and experience in the LauraMac Due Diligence software system
• 5+ years of current experience in underwriting, preferably with prior experience in Quality Control
• Minimum 1-year Due Diligence experience at a mortgage lending institution
• Familiarity with best practices for post-close quality control on newly and seasoned originated mortgages
• Proficiency in Non-QM loan processes and requirements
• A deep understanding of DSCR/business purpose loans
• The ability to work with multiple investor guidelines and overlays
• Strong ability to properly calculate income across a variety of earning types, from wage earners to business/self-employed income
• Strong appraisal review skills
• Excellent analytical and communication skills
• Proficiency in pipeline management with the ability to multitask in a high-volume environment
• The ability to work independently as well as contribute in a team environment

What You'll Do:

• Review mortgage loan files to ensure the accuracy of the information and verify the presence of all required documents
• Perform due diligence review of the residential mortgage loan application and documentation as submitted to ensure loans meet specific investor/product guidelines and AUS requirements as applicable
• Analyze borrower's credit profile, collateral, and capacity to repay the proposed mortgage obligation, including accurately calculating income and ensuring the borrower's ability to repay
• Properly calculate and analyze loan-to-value ratios and debt carried
• Analyze purchase contracts, title commitments, and other loan-pertinent documentation
• Enter review results into the company's proprietary software
• Execute risk analysis and make decisions regarding deficiencies identified during the review process, recommending resolution
• Stay current on all agency, state, and multiple investor guidelines
• Participate in ongoing training as the industry evolves
• Manage time efficiently and prioritize workloads to meet minimum daily production goals
• Clear QA feedback and perform within department audit standards
• Adhere to the company's Core Values
• Other duties as assigned by manager

Salary: This is a contract position and payment will be made per file, depending on the type of loan reviewed.

Why Maxwell:

We are a company focused on a supportive, diverse, and inclusive culture - lived through our values of Rigor, Ownership, Curiosity, Kindness, and "Straight Up" - to bring equality to the mortgage process and spread financial empowerment. We believe people do their best work when they're trusted, supported, and given the tools to solve real problems. Join us in helping lenders work more efficiently while making the path to homeownership less stressful for everyone involved.

Voluntary Self-Identification

For government reporting purposes, we ask candidates to respond to the below self-identification survey.Completion of the form is entirely voluntary. Whatever your decision, it will not be considered in the hiringprocess or thereafter. Any information that you do provide will be recorded and maintained in aconfidential file.

As set forth in Maxwell's Equal Employment Opportunity policy,we do not discriminate on the basis of any protected group status under any applicable law.

If you believe you belong to any of the categories of protected veterans listed below, please indicate by making the appropriate selection.As a government contractor subject to the Vietnam Era Veterans Readjustment Assistance Act (VEVRAA), we request this information in order to measurethe effectiveness of the outreach and positive recruitment efforts we undertake pursuant to VEVRAA. Classification of protected categoriesis as follows:

A "disabled veteran" is one of the following: a veteran of the U.S. military, ground, naval or air service who is entitled to compensation (or who but for the receipt of military retired pay would be entitled to compensation) under laws administered by the Secretary of Veterans Affairs; or a person who was discharged or released from active duty because of a service-connected disability.

A "recently separated veteran" means any veteran during the three-year period beginning on the date of such veteran's discharge or release from active duty in the U.S. military, ground, naval, or air service.

An "active duty wartime or campaign badge veteran" means a veteran who served on active duty in the U.S. military, ground, naval or air service during a war, or in a campaign or expedition for which a campaign badge has been authorized under the laws administered by the Department of Defense.

An "Armed forces service medal veteran" means a veteran who, while serving on active duty in the U.S. military, ground, naval or air service, participated in a United States military operation for which an Armed Forces service medal was awarded pursuant to Executive Order 12985.