Senior Underwriter

Deephaven-Mortgage-2; North Carolina; On-site; USD 44,000 - 73,000; Full time

Benefits offered by this job

Flexible Time Off

401(k) plan with match

Health insurance starting day one

Maternity/Paternity leave

Team-building events

Job summary

Deephaven Mortgage is seeking an experienced Non-QM Underwriter in North Carolina. You will manually underwrite complex mortgage loans for Correspondent and Wholesale channels, ensuring alignment with credit guidelines and investor overlays.

You will perform vendor quality control, review appraisals and condo projects, and collaborate with underwriters, processors, and sales to clear conditions. This role emphasizes risk assessment and timely, accurate decisions.

Qualifications

• Recent hands-on Non-QM underwriting experience required.
• Experience with DSCR and bank statement analysis.
• Ability to manually calculate income for complex self-employed borrowers.
• Appraisal reviews and condo project experience is a plus.
• High-volume underwriting background (50+ underwrites per month).

Responsibilities

• Manually underwrite mortgage loan transactions per guidelines.
• Perform quality control audits of third-party vendors for compliance.
• Review loan scenarios and determine eligibility for purchase/funding.
• Collaborate with internal staff and brokers to clear conditions.
• Assist in handling loan-level credit and compliance questions.

Skills

Non-QM underwriting

DSCR

Bank statements

P&L analysis

Asset depletion

Income calculation

HELOCs

2nd mortgages

Condo reviews

Encompass

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 www.deephavenmortgage.com or email us at [e-mail] OverviewIn 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 DoManually underwrite mortgage loan transactions submitted by our Correspondent and Wholesale lending clients to company and investor credit guidelinesPerform quality control audits of our third-party vendor to ensure mortgage loans met all company and investor credit guidelines and requirementsReview loan scenarios and communicate purchase/funding eligibility requirements to our Correspondent and Wholesale lending clientsCollaborate 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 conditionsWork closely with processing staff to clear loan conditions throughout the processAssist in handling loan-level credit and compliance questions & issues and in the preparation and dissemination of updated mortgage underwriting and compliance standards and proceduresAny and all other duties as requested by managementJob RequirementsRecent, hands-on Non-QM underwriting experience is required, including, but not limited to:DSCRBank Statement (personal & business)P&L–only qualificationAsset DepletionMulti-familyExperience underwriting HELOCs and 2nd mortgages strongly preferred.15+ years of experience as an underwriterAbility 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 documentationAppraisal 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.CompensationThe compensation band for this role begins at $52.88 per hour, plus a performance based monthly bonus plan.Privacy PolicyThis organization participates in E-VerifyOur PerksFlexible 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) planCommunity Connect– Philanthropy Committee that creates charitable initiativesHealth from Day One – Comprehensive health insurance starting on day one of employmentFamily Matters – Competitive maternity and paternity leaveCulture & Celebrations – Culture Committee with team-building events and celebrationsIdeas Welcome – Encouraging thought leadership and innovationGuidance & Growth – Mentorship opportunities for career developmentPerk Up – Exclusive discounts on travel, tech, pets, legal, and more