Underwriter, Manager (Non-QM)

Millennial-Home-Lending-; Los Angeles (CA); On-site; USD 120,000 - 180,000; Full time

Job summary

CAKE Mortgage is seeking an experienced Mortgage Underwriter, Manager, to lead the underwriting team and drive quality and efficiency in Non-QM lending. The ideal candidate will oversee daily operations, mentor underwriters, and ensure adherence to investor and regulatory guidelines.

Join a fast-paced, collaborative environment focused on speed, precision, and continuous improvement in underwriting practices.

Qualifications

• Minimum 5 years of mortgage underwriting experience.
• 2+ years in a leadership or managerial role overseeing underwriters.
• 3+ years direct Non-QM experience.
• Proficient in analyzing income sources (bank statements, P&L, asset depletion, DSCR).
• Strong understanding of mortgage credit risk, fraud detection, and regulatory compliance.
• Working knowledge of LOS system, Encompass.

Responsibilities

• Manage and lead a team of mortgage underwriters, providing coaching, training, and performance feedback.
• Oversee the underwriting process to ensure accuracy and adherence to guidelines.
• Review and approve complex or high-risk loan files and ensure compliance with investor standards.
• Monitor pipeline, SLA, and turn times to ensure service levels are met.
• Collaborate with internal departments to resolve issues and improve loan quality.
• Serve as SME for Non-QM products including bank statement loans and DSCR.

Skills

Mortgage underwriting

Leadership

Regulatory compliance

Analytical thinking

Communication

multitasking

Tools

Encompass LOS

Job description

CAKE Mortgage is a cutting-edge wholesale mortgage lender specializing in Non-QM products. We’re redefining the lending experience with innovative programs, streamlined processes, and a commitment to speed and precision. As we grow, we’re looking for forward-thinking professionals who thrive in fast-paced, collaborative environments.

We are seeking an experienced Mortgage Underwriter, Manager to lead our underwriting team. The ideal candidate will have deep knowledge of Non-QM products, strong analytical skills, and proven leadership experience. This role involves overseeing daily underwriting operations, ensuring compliance with company and investor guidelines, mentoring underwriters, and driving continuous improvement in underwriting quality and efficiency.

Key Responsibilities

• Manage and lead a team of mortgage underwriters, providing coaching, training, and performance feedback.
• Oversee the underwriting process to ensure accuracy, consistency, and adherence to company, investor, and regulatory guidelines.
• Review and approve complex or high-risk loan files, including income documentation, creditworthiness, asset verification, and property valuations.
• Monitor pipeline reports, workflow, and SLAs to ensure timely turn times and service levels are met or exceeded.
• Collaborate with internal departments (sales, processing, funding, QC, and compliance) to resolve issues and improve loan quality.
• Serve as the subject matter expert (SME) for Non-QM products, including bank statement loans, asset depletion, DSCR, and other alternative documentation loans.
• Ensure all underwriting decisions are well-documented and meet internal audit and investor standards.
• Conduct regular file audits and quality reviews to maintain compliance and reduce repurchase risk.
• Identify training needs and coordinate with training departments to implement necessary upskilling for the underwriting team.
• Stay updated on industry trends, guideline changes, and regulatory developments affecting Non-QM lending.

Requirements

• Minimum 5 years of mortgage underwriting experience.
• 2+ years in a leadership or managerial role overseeing underwriters.
• 3+ years direct Non-QM experience.
• Proficient in analyzing income sources (bank statements, P&L, asset depletion, DSCR, etc.).
• Strong understanding of mortgage credit risk, fraud detection, and regulatory compliance.
• Working knowledge of LOS system, Encompass.
• Excellent communication, organizational, and problem-solving skills.
• Ability to manage remote teams and multiple priorities in a fast-paced environment.

Why Join CAKE Mortgage?

• Be part of a fast-growing company changing the game in Non-QM.
• Competitive compensation and performance-based bonuses.
• Collaborative and entrepreneurial culture.
• Opportunities for career advancement and innovation.

Cake Mortgage does not tolerate discrimination of any type. Cake Mortgage offers equal employment opportunity to all qualified persons without regard to race, age, color, religion, sex/gender, gender identity, sexual orientation, marital status, medical condition, military or veteran status, national origin, ancestry, disability, or any other considerations made unlawful by Federal, State, or Local law. Cake Mortgage provides eligible and qualified employees with opportunities to advance. Cake Mortgage is an at will employer. Cake Mortgage is committed to providing employees with a work environment free of discrimination and harassment.