Underwriter, Manager (Non-QM)

Cake Mortgage Corp. • Los Angeles, CA

104d

About The Position

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.

Requirements

• Minimum 5 years of mortgage underwriting experience.
• 2+ years in a leadership or managerial role overseeing underwriters.
• 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.

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.

Benefits

• Competitive compensation and performance-based bonuses.
• Collaborative and entrepreneurial culture.
• Opportunities for career advancement and innovation.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 11-50 employees