Mortgage Underwriter (5-10 Unit Properties) Remote

Lendsure Mortgage Corp•San Diego, CA

1d•Remote

About The Position

LendSure Mortgage Corp. is a fast-growing Wholesale Lender offering Non-QM loan solutions. LendSure helps mortgage originators grow their business by offering loan solutions to borrowers who do not fall into conforming guidelines. At LendSure Mortgage Corp., we have created an environment where high-energy professionals can learn, excel, grow, and feel great about their contributions to our success. LendSure is committed to attracting and retaining top talent throughout the United States and offers a competitive salary, benefits, and opportunities to grow within the company. The Mortgage Underwriter for 5-10 unit properties is responsible for evaluating mortgage loan applications for multi-unit residential properties (typically considered commercial properties) ranging from 5 to 10 units. They assess risk, ensure compliance with lending guidelines and regulations, and make informed decisions on loan approvals or denials. This role requires a strong understanding of both residential and commercial real estate underwriting principles, with a specific focus on the unique characteristics of 5-10 unit properties.

Requirements

Strong analytical skills for assessing financial data and risk.
In-depth knowledge of lending guidelines and regulations.
Familiarity with relevant financial metrics like NOI and DSCR.
Excellent communication skills.
Attention to detail.
Proficiency in underwriting software.
Strong decision-making abilities.
Capacity to meet deadlines in a demanding environment.

Nice To Haves

A bachelor's degree in a related field is often preferred.
Non-QM experience as a mortgage underwriter is preferred, with a focus on multifamily or commercial real estate loans, specifically including 5-10 unit properties.
Knowledge of local real estate markets and property management is also beneficial.

Responsibilities

Review and analyze mortgage loan applications and supporting documentation (e.g., credit reports, financial statements, income verification, property appraisals) for 5-10 unit properties.
Assess borrower creditworthiness, financial capacity, and ability to repay the loan, considering the specific financial dynamics of multi-unit properties.
Evaluate the property's financial performance, including projected rental income, operating expenses, vacancy rates, and Debt Service Coverage Ratio (DSCR).
Analyze property appraisals to ensure the collateral value aligns with loan amount and property standards.
Ensure compliance with all applicable lending guidelines (e.g., internal policies, investor requirements, and federal and state regulations like TRID, RESPA).
Make informed loan decisions (approve, suspend, or deny) based on a comprehensive risk assessment and communicate these decisions to relevant stakeholders (e.g., Account Executives and processors).
Clearly communicate the reasons for loan decisions and any required conditions.
Work collaboratively with loan processors and Account Executives to obtain additional information or clarification and ensure accurate documentation throughout the underwriting process.
Stay updated on industry trends, lending guidelines, regulations, and market conditions relevant to 5-10 unit properties and commercial real estate.
Maintain accurate and detailed loan documentation in the underwriting system.
Identify potential fraud or misrepresentation and escalate concerns when necessary.