Non-QM Underwriter

Onity Group; Mount Laurel Township (NJ); On-site; USD 90,000 - 105,000; Full time

Job summary

A leading mortgage servicer is expanding its Non-QM Lending business and seeking experienced Underwriters. The ideal candidate will have a strong understanding of mortgage guidelines and the ability to make sound loan decisions. Join a dedicated team committed to delivering exceptional service in a supportive environment with opportunities for bonuses based on performance.

Benefits

Comprehensive benefits package

401(k) matching

Generous paid time off

Programs for wellness

Qualifications

• Three years experience underwriting non-QM loans.
• Strong knowledge of FNMA and FHLMC guidelines.
• Ability to review complex financials and credit documents.

Responsibilities

• Review mortgage applications for eligibility and compliance.
• Make independent loan acceptance decisions.
• Communicate underwriting decisions effectively to sellers.

Skills

Attention to detail

Problem-solving

Analytical skills

Customer service

Education

Minimum three years mortgage experience

Correspondent Lending experience preferred

Tools

Encompass

Job description

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Job Description

This position offers an exciting opportunity to play a crucial role in our Correspondent Lending business. We are hiring experienced Non-QM Underwriters to support the expansion of our rapidly growing non-delegated channel.

Job Description

This position offers an exciting opportunity to play a crucial role in our Correspondent Lending business. We are hiring experienced Non-QM Underwriters to support the expansion of our rapidly growing non-delegated channel.

The Non-QM Mortgage Underwriter reviews, conditions and underwrites mortgage loans in accordance with established policies and procedures and appropriate guidelines; examines all documentation for accuracy and completeness.

Job Functions And Responsibilities

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.

• Review and analyze the mortgage loan application to ensure eligibility, accuracy, completeness, and compliance with internal and regulatory guidelines to minimize risk factors
• Responsible for making independent decisions regarding acceptance and risk of loans according to FNMA, FHLMC, PHH, and applicable Non-QM investor guidelines
• Approves loans, issues alternative options or adverse actions accordingly
• Adheres to all applicable internal PHH Mortgage policies and procedures.
• Meets determined service level time frame requirements set by management.
• Work with staff and management to find solutions on escalated loans
• Manage loans by using all functions of Encompass
• Effectively communicate underwriting decisions to Seller
• Maintain high level of customer service and communication both internally and externally
• Other duties as assigned.
  
  

Qualifications

To perform this job successfully, an individual must have the following education and/or experience:

• Minimum three years mortgage experience underwriting non-QM loans
• Working knowledge of FNMA and FHLMC and Non-QM guidelines
• Ability to review and calculate complex personal and or business financials
• Ability to underwrite Non-QM and Non-Agency products, including but not limited to bank statement income analysis, Asset Depletion, and DSCR
• Ability to review credit reports, preliminary title reports, judgements, bankruptcy documents, appraisals and any additional applicable credit documents
• Correspondent Lending experience preferred
• Strong working knowledge of Encompass
• Ability to effectively present information and respond to questions both internally and externally in a professional, articulate, and respectful manner.
• Strong organizational, problem-solving, and analytical skills
• Versatility, flexibility, and a willingness to work within constantly changing priorities with enthusiasm
• Acute attention to detail
• Provides quality control responses timely
• Consistently meets or exceeds established minimum productivity and quality goal
• Excellent customer service skills
• Proven ability to handle multiple projects and meet deadlines
• Good judgment with the ability to make timely and sound decisions
• Bilingual skills a plus
• FHA and VA a plus
  
  

Training / Licensing Requirements

• Must pass the Company’s Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
  
  

The salary range for this position is expected to be $90,000 – $105,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate. This position is also eligible for monthly bonus based on performance and subject to the terms of the Company’s applicable plans.

About Us

Onity Group Inc. is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage.

PHH Mortgage, a subsidiary of Onity Group Inc., has been providing mortgage lending and servicing solutions since 1984 and is dedicated to maintaining responsible and ethical practices while delivering an exceptional customer experience. PHH offers industry-leading mortgage solutions for the entire mortgage lifecycle, including correspondent lending, MSR/Co-Issue, subservicing, commercial servicing, reverse mortgages and portfolio retention. We are one of the largest subservicers of residential mortgages in the United States and one of only two servicers in reverse mortgage lending.

At Onity Group Inc., we consistently deliver on our commitments to customers, clients, investors and colleagues through caring service, integrity and creative solutions. This Service Excellence philosophy is embraced by meeting service standards we call CARE, which stands for Caring, Accurate, Responsive and Empowered. We expect all employees to interact and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our CARE standards.

Onity Group Inc. is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity, Equity & Inclusion ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.

Onity Group Inc. offers a comprehensive benefits package including medical, dental and vision; up to 3% match on 401(k) contributions; generous paid time off; company-paid life, accident and disability coverage; programs for mental, physical and financial wellness; and more. Visit jobs.onitygroup.com for details.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

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