Sr. Jumbo Underwriter

Redwood Trust Inc

8h•$100,000 - $120,000•Hybrid

About The Position

The Senior Underwriter requires expert jumbo mortgage underwriting and credit risk knowledge, clear communication skills, consistently outstanding client service, and proven problem solving and decision-making skills. The successful candidate must have a high level of interaction with internal parties (trading, sales, legal and compliance, structured finance) and external parties (Sellers, 3rd party service providers).

Requirements

7+ years of mortgage industry experience
3+ recent years Jumbo and Non-QM underwriting experience
2+ years of complex income analysis experience
Strong understanding of Fannie Mae and Freddie Mac Underwriting guidelines
Expert underwriting knowledge and extensive experience with loan origination documentation
Technologically savvy, with the ability to work in varied systems
Proficiency with Excel, loan origination systems, automated underwriting engines, electronic document management and other systems
High attention to detail and effective problem-solving skills
Excellent client service skills
Excellent oral and written communication skills
Excellent multi-tasking skills and ability to manage multiple tasks simultaneously
Analytical thinking ability, diplomacy and professionalism

Responsibilities

Ability to analyze the underwriting of closed JUMBO, Non-QM, DSCR and Closed End Second mortgage loans in a timely manner for completeness and compliance with Redwood purchase guidelines.
Use of manual underwriting requires strong attention to detail and strong foundation of Fannie Mae and Freddie Mac Underwriting guidelines.
Must be able to analyze multiple alternative income methods of income, (ie: complicated tax returns, bank statements, DSCR, 1099, asset depletion.)
Manage loan conditions from credit, property, and compliance reviews with Sellers and external 3rd party service due diligence providers.
Evaluate and provide recommendations for underwriting waivers and eligibility exceptions.
Clearly communicate, in written and verbal form, compensating factors to justify exceptions.
Provide support to Redwood Sellers by evaluating and supplying feedback on loan scenarios, at times based on limited information.
Participate in and provide clear feedback on credit policy recommendations.
Collaborate with Transaction Underwriters to ensure timely resolution of investor conditions related to whole loan sales.
Maintain strong knowledge of mortgage compliance rules, agency underwriting guidelines and industry standards for appraisal requirements and regulatory compliance.
Participate in evaluating current loan review processes and provide feedback and recommendations to increase efficiency and risk management capabilities.
Consistently access third party services (valuation, fraud, compliance) to provide valuable input for loan decisions.