Underwriter Non-QM

Novus Home Mortgage•Brookfield, WI

13h

About The Position

The Underwriter Non-QM will be responsible for reviewing Non-QM loan applications and supporting documentation to ensure accuracy, completeness, and compliance with internal and investor guidelines. This role involves analyzing and calculating complex income types, reviewing appraisals, evaluating borrower credit profiles, and making sound underwriting decisions. The Underwriter will also serve as a subject matter expert for Non-QM products, provide guideline support, and collaborate with various teams to resolve conditions and mitigate risk. Maintaining up-to-date knowledge of guidelines and demonstrating proficiency in Encompass LOS are key aspects of this position.

Requirements

Strong knowledge of mortgage lending principles and underwriting practices.
Advanced understanding of Non‑QM products, layered credit risk, and investor guidelines.
Sound judgment and decision-making skills
Ability to work under pressure and meet deadlines with minimal supervision
Excellent organizational skills
Knowledge of Freddie Mac, Fannie Mae and FHA/VA guidelines
Requires education generally equivalent to a high school diploma.
Three (3) to five (5) years of recent underwriting experience in the mortgage industry required.
Experience using Encompass
Familiarity with automated underwriting technology i.e., Fannie Mae Desktop Underwriter and Freddie Mac Loan Prospector
Proficient in data entry and management
Experience using Microsoft Office products (i.e. Word, Excel, Outlook, PowerPoint, SharePoint).

Nice To Haves

preferably with non-QM underwriting experience strongly preferred.
Active DE and/or SARs certification is preferred

Responsibilities

Review Non‑QM loan applications and supporting documentation to ensure accuracy, completeness, and compliance with internal and investor guidelines.
Analyze and calculate complex income types (including self‑employed, bank statement, asset‑depletion, and alternative documentation programs) and validate assets with appropriate supporting documentation.
Review appraisals in accordance with Non‑QM investor guidelines and established service level agreements.
Evaluate borrower credit profiles, including credit reports, tax returns, rental income, judgments, bankruptcies, and other layered risk factors.
Analyze loan‑to‑value (LTV), debt‑to‑income (DTI), residual income, and compensating factors to assess overall credit risk.
Render sound underwriting decisions and document rationale in accordance with investor and internal standards.
Serve as a subject matter expert for Non‑QM products, investor overlays, and credit policy interpretation.
Review and respond to complex Non‑QM scenarios presented by Loan Officers, Loan Officer Assistants, and Processors, providing accurate guideline guidance and viable structuring suggestions.
Act as a liaison between production teams and Non‑QM investors to obtain scenario guidance, clarifications, and exceptions when applicable.
Accurately communicate investor responses and underwriting requirements to internal stakeholders.
Partner with Quality Control, Compliance, Funding, Delivery, and Post‑Closing to resolve conditions, mitigate risk, and address post‑closing issues.
Communicate clearly with Loan Officers, Processors, and Closers to resolve underwriting conditions efficiently.
Maintain up‑to‑date knowledge of Non‑QM investor guidelines, internal policies, and evolving regulatory expectations.
Demonstrate proficiency in Encompass LOS and underwriting tools to manage workflow and documentation effectively.