Jumbo/Non-QM Underwriter

New American Funding•,

2h•$110,000•Remote

About The Position

The Jumbo/Non-QM Underwriter will be responsible for the thorough evaluation of credit and property documents in loan files, identifying potential risks, and advising on the appropriate decision for approving, declining, or suspending the loan. This role requires adherence to New American Funding's underwriting guidelines, borrower eligibility, and investor requirements. The underwriter will also maintain underwriting turn times, collaborate with processors and loan officers, and stay updated on guidelines from Fannie Mae, Freddie Mac, Appendix Q, and various delegated Jumbo investors.

Requirements

Non-conforming/Non-Agency Jumbo underwriting experience
Superior knowledge of and experience with property and credit underwriting requirements of FNMA, FHLMC, Non-Agency Jumbo, and other private investor guidelines, as well as other loan programs and private mortgage insurance companies.
Excellent written and oral communication skills.
Superior analytical, organizational and problem solving abilities.
Ability to work independently, analyze data, take and recommend appropriate actions with minimal supervision.
Capability of working in a fast-paced environment, under pressure and meet time-sensitive deadlines, all while maintaining a high level of professionalism.
High School Diploma or equivalent.
Five or more years' mortgage underwriting experience with Non-Conforming or Non-Agency Jumbo loans.
Experience with Encompass 360
Must be able to verify identity and employment eligibility to work in the U.S.

Responsibilities

Review all loan submissions submitted by production and origination staff and generate initial credit decision in accordance with FNMA, FHLMC, Non-Agency Jumbo, New American Funding Non-QM, and other private investor guidelines as well as internal overlays.
Ability to underwrite to multiple Non-Agency Jumbo investors in a changing market and regulatory environment.
Evaluate mortgage loan applications to determine eligibility, acceptability, and compliance with applicable state, federal and investor guidelines.
Perform credit and property analysis on conventional and Non-Agency Jumbo files.
Analyze complex tax returns and accurately calculate income.
Identify key loan factors impacting borrower eligibility, property eligibility and credit qualification for complex or atypical financial profiles, collateral and loan structures.
Perform timely reviews of submitted conditions and loan resubmissions and complete credit decisions for complex loans assumed from colleagues.
Identify and summarize Exception loans for escalation to Credit Manager for business decision.
Input data and notes into the Encompass loan system.
Maintain quality and production standards as set forth by management.
Effectively communicate, orally, in writing, and via email, the decisions reached as to maintain positive working relationships with coworkers and customers.
Ability to explain specific reasons for negative credit decisions and recommend possible solutions.
Other duties may be assigned.