Non-Conforming Underwriter

JMAC Lending; Costa Mesa (CA); Remote; USD 90,000 - 108,000; Full time

Job summary

A leading company in the lending industry seeks an experienced Underwriter to evaluate agency and non-agency loans. This role involves analyzing documentation to assess borrowers' creditworthiness and ensuring compliance with guidelines. The position offers a competitive salary and a supportive remote work environment.

Benefits

Comprehensive Health Care Plan

Life Insurance Options

Generous Paid Time Off

Secure Retirement Plan

Disability Coverage

Family Leave Benefits

Access to Wellness Resources

Qualifications

• Minimum 5 years underwriting experience with Conventional loan products.
• Current experience with jumbo, non-agency, and alternative documents for at least 3 years.

Responsibilities

• Conduct comprehensive analysis of loan documents including credit reports and appraisals.
• Manage loan files and ensure compliance with investor guidelines.
• Communicate loan decisions clearly to colleagues and clients.

Skills

Attention to Detail

Communication

Organization

Job description

About JMAC Lending:

With over 25 years of experience, JMAC Lending has established itself as a leader in the industry. We pride ourselves on our innovative products, outstanding service, and unwavering commitment to supporting our partners in growing their businesses. Our culture revolves around surpassing conventional market options, positioning us as the preferred lender for our clients. Our team boasts impressive credentials and participates in ongoing education to blend knowledge with experience seamlessly. Built on a foundation of the highest ethical standards, our company excels in delivering competitive product pricing for wholesale and correspondent lending to our valued clients.

The Opportunity:

This role entails underwriting agency and non-agency loans (including both Manual and AUS), alongside Alternative Doc loans. You'll play a crucial part in evaluating supporting documentation to determine borrowers' creditworthiness and their capacity to fulfill mortgage obligations. This includes reviewing a variety of documents such as credit reports, income and asset documentation, appraisals, collateral reports, and fraud prevention tools, as well as any other necessary paperwork to make informed decisions.

This is a Full-Time/Remote opportunity offering competitive pay ranging from $90,000 to $108,000 annually.

Key Responsibilities:

1. Conduct comprehensive and precise analysis of all loan documents, including the AUS decision report, credit report, various income sources (both complex personal and business returns), assets, preliminary title report, appraisal, purchase agreement, escrow instructions, occupancy verification, as well as performing checks for red flags and potential fraud.
2. Efficiently enter data into DU/LP systems and execute the final AUS processing.
3. Manage loan files meticulously and clear any conditions, demonstrating attention to detail and urgency to meet customer needs.
4. Accurately log loan data and decisions into our operating system, ensuring precision at every step.
5. Review transaction matrices and internal investor overlays to guarantee compliance with all investor guidelines.
6. Apply and uphold effective fraud detection methods. Proactively request additional information or documentation as needed, and identify risk factors that may affect the quality of the loan file.
7. Assist in resolving pre-funding or post-purchase loan issues by collaborating with the post-closing department to address any outstanding conditions or concerns.
8. Communicate loan decisions clearly and professionally via phone or email to foster positive relationships with colleagues and clients.
9. Maintain open communication channels with brokers and sales staff to ensure inquiries are addressed promptly, showcasing customer service skills.

Requirements:

1. Must have recent underwriting experience with all Conventional loan products for a minimum of 5 years and be current on all updated guidelines, policies, and procedures.
2. Current jumbo, non-agency, and alternative document experience for at least 3 years.
3. Ability to multi-task in a fast-paced environment while maintaining quality.
4. Extensive knowledge of FNMA/FHLMC and investor guidelines.
5. Extensive knowledge of complex tax returns including multiple businesses and financed properties.
6. Able to handle multiple investors' guidelines.
7. Maintain quality and production standards as set by management.
8. Strong attention to detail, organization, and communication skills.
9. Excellent verbal and written communication skills to express complex issues and solicit input.
10. Compliance with all BSA/AML requirements and mandatory updates.

Benefits:

• Comprehensive Health Care Plan (Medical, Dental, & Vision)
• Life Insurance Options (Basic, Voluntary & Accidental Death & Dismemberment)
• Generous Paid Time Off (Vacation & Holidays)
• Secure Retirement Plan (401k)
• Short-Term & Long-Term Disability Coverage
• Family Leave Benefits
• Access to Wellness Resources

JMAC Lending, Inc. is an Equal Employment Employer, committed to workforce diversity. Qualified applicants will receive consideration regardless of age, race, religion, sex, sexual orientation, gender identity, or national origin.

DISCLAIMER: JMAC Lending is an evolving company. This job description is not exhaustive of all responsibilities, duties, skills, efforts, requirements, or working conditions associated with the job. Management reserves the right to revise the job or require other tasks to be performed as needed.