Senior Non-QM Underwriter: Complex Income Expert

Deephaven Mortgage LLC; Charlotte (NC); On-site; USD 60,000 - 86,000; Full time

Benefits offered by this job

Time off program

401(k) plan with match

Health insurance from day one

Parental leave

Job summary

Deephaven Mortgage LLC seeks an experienced Non-QM Underwriter to evaluate complex mortgage applications outside traditional QM guidelines. You will assess borrower risk, ensure policy compliance, and influence loan approvals.

You will underwrite manually for Correspondent and Wholesale channels, perform quality audits, and clear conditions with internal teams to meet investor guidelines. Strong Encompass proficiency is required.

Qualifications

• Recent, hands-on Non-QM underwriting experience is required, including, but not limited to: DSCR.
• Bank Statement (personal & business)
• P&L–only qualification
• Asset Depletion
• Multi-family
• Experience underwriting HELOCs and 2nd mortgages strongly preferred.
• 15+ years of experience as an underwriter
• Ability to manually calculate income across all Non-QM programs, including complex self-employed borrower profiles, layered income sources, and variable cash flow.
• Demonstrated ability to independently review and clear: Title commitments & supporting documentation
• Appraisal reports (including complex or unique property types)
• Full condo project reviews (warrantable, non-warrantable, new construction, and small projects)
• Proficiency in Encompass, with the ability to navigate workflows, analyze documentation, and manage conditions efficiently.
• High-volume underwriting background, managing 50+ initial underwrites per month while maintaining quality, accuracy, and fast SLAs.
• Strong understanding of Non-QM guidelines, investor overlays, compensating factors, and risk layering.
• Excellent communication skills with the ability to clearly document decisions and collaborate with sales, processors, and closers.
• Strong critical-thinking, independent-decision-making, and problem-solving skills.
• Commitment to loan quality, compliance, and responsible lending.

Responsibilities

• Manually underwrite mortgage loan transactions submitted by our Correspondent and Wholesale lending clients to company and investor credit guidelines.
• Perform quality control audits of our third-party vendor to ensure mortgage loans met all company and investor credit guidelines and requirements.
• Review loan scenarios and communicate purchase/funding eligibility requirements to our Correspondent and Wholesale lending clients.
• Collaborate with internal staff (e.g., Underwriters, Account Managers, Processors, Closers, Operations Management, etc.) of our correspondent lending clients, brokers and third party-vendors throughout the review process to clear purchase/funding eligibility conditions.
• Work closely with processing staff to clear loan conditions throughout the process.
• Assist in handling loan-level credit and compliance questions & issues and in the preparation and dissemination of updated mortgage underwriting and compliance standards and procedures.
• Any and all other duties as requested by management.

Skills

Non-QM underwriting

DSCR

Bank statements

P&L qualification

Asset depletion

Multi-family

HELOCs

2nd mortgages

Underwriter experience 15+ years

Income calculation

Title commitments

Appraisal reviews

Condo project reviews

Encompass

High-volume underwriting

Non-QM guidelines

Investor overlays

Risk layering

Communication skills

Critical thinking

Problem solving

Loan quality

Tools

Encompass

Job description

Deephaven Mortgage LLC seeks an experienced Non-QM Underwriter to evaluate complex mortgage applications outside traditional QM guidelines. You will assess borrower risk, ensure policy compliance, and influence loan approvals.

You will underwrite manually for Correspondent and Wholesale channels, perform quality audits, and clear conditions with internal teams to meet investor guidelines. Strong Encompass proficiency is required.