Senior Underwriter

Deephaven Mortgage; 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

Why Deephaven Mortgage?

Deephaven Mortgage has been a pioneer and leader in non-QM since our origin in 2012. Our longevity and strength in the non-QM space has allowed a significant number of borrowers to achieve homeownership who otherwise would not have under traditional requirements. Deephaven champions mortgage borrowers whose independence, entrepreneurial drive and determination are often the very reason they cannot qualify for a traditional loan. We continuously and responsibly innovate new mortgage products and programs that put homeownership within reach of millions of borrowers and investors that need and deserve financing through lending ingenuity that is supported by common-sense underwriting. Deephaven is comprised of two lending platforms. Our wholesale channel offers loans through a network of over 1,000 independent mortgage brokers. Our correspondent channel buys loans from over 200 correspondent partners. Deephaven’s headquarters are in Charlotte, North Carolina. To learn more about our innovative loan solutions please visit or email us at .

Job Overview

In this role, you will be responsible for evaluating complex mortgage loan applications that fall outside traditional Qualified Mortgage (QM) guidelines. You will assess borrower risk based on alternative documentation, ensure compliance with company policies and investor guidelines, and play a key role in decision-making for loan approvals.

What You’ll Do

• 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

Job Requirements

• 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.

Compensation

The compensation band for this role begins at $52.88 per hour, plus a performance based monthly bonus plan.

Privacy Policy

This organization participates in E-Verify

Our Perks

Flexible Time to Recharge

• – Personalized Time Off for What Matters (because rest isn’t one‑size fits all)

Future Finance Focused

• – Generous employer‑matched 401(k) plan

Community Connect

• – Philanthropy Committee that creates charitable initiatives

Health from Day One

• – Comprehensive health insurance starting on day one of employment

Family Matters

• – Competitive maternity and paternity leave

Culture & Celebrations

• – Culture Committee with team‑building events and celebrations

Ideas Welcome

• – Encouraging thought leadership and innovation

Guidance & Growth

• – Mentorship opportunities for career development

Perk Up

• – Exclusive discounts on travel, tech, pets, legal, and more