Non-QM Underwriter

NFM Lending•Glen Burnie, MD

3h•$46 - $53•Remote

About The Position

The Non-QM Underwriter is responsible for reviewing and underwriting complex Non-Qualified Mortgage (Non-QM) loan applications following NFM and investor guidelines. This role requires expertise in assessing unique income sources, complex financial scenarios, and risk factors specific to Non-QM and Jumbo loan products. The Non-QM Underwriter collaborates with loan officers, processors, and other stakeholders to ensure a smooth and compliant loan process.

Requirements

Minimum five years of mortgage underwriting experience, with two years in Non-QM loan underwriting and one year in Jumbo loans.
Experience underwriting DSCR, Asset Depletion, and Bank Statement loans.
Proficient knowledge of Non-QM investor guidelines, lending practices, and compliance regulations.
Excellent analytical and decision-making skills for complex financial scenarios.
Proficiency in underwriting software and tools.
Effective communication and collaboration skills.
High attention to detail with a focus on accuracy and risk assessment.

Nice To Haves

College degree in finance, business, or related field preferred. Commensurate work experience considered.
FHA DE and renovation loan experience (Homestyle, 203k) desired.

Responsibilities

Review and analyze complex Non-QM loan applications for eligibility and compliance.
Assess financial data, including alternative income sources, tax returns, and credit reports.
Evaluate property appraisals to determine loan-to-value ratios and risk factors.
Ensure adherence to investor guidelines, regulatory requirements, and company policies.
Communicate with loan officers, processors, and other stakeholders to resolve conditions.
Make informed underwriting decisions, including approvals, counter offers, or denials.
Maintain up-to-date knowledge of Non-QM lending trends and guideline changes.
Manage a pipeline of Non-QM and Jumbo loans while meeting turnaround times.
Analyze and mitigate unique risk factors associated with Non-QM lending.
Maintain service-level agreements for underwriting decisions and condition reviews.
Guide team members on complex loan structuring and underwriting scenarios.
Identify opportunities to enhance underwriting processes and efficiency.
Ensure data accuracy and compliance in loan files and underwriting systems.
Underwrite a minimum of 2.5 new loans per day while meeting quality benchmarks.
Adhere to Fair Lending, ECOA, and all applicable regulatory requirements.
Perform additional duties as assigned.