Underwriter

Trovy•Salt Lake City, UT

11d•Onsite

About The Position

Trovy is building a financial platform for homeowners to manage their homes and access low-rate credit. The Underwriter is a core member of Trovy’s credit team, making sound, well-documented credit decisions on home equity line of credit (HELOC) applications. The role handles complex files, especially those involving self-employed borrowers and business owners with income from S corporations, partnerships, LLCs, and sole proprietorships. Success is measured by decision quality, accuracy, and consistency, rather than sales. The position is on-site in Salt Lake City, Utah.

Requirements

At least 5 years of mortgage or home equity underwriting experience, including substantial experience underwriting self-employed borrowers.
Expert command of complex income analysis, including personal and business tax returns, K-1s, business cash flow analysis, and comparative year-over-year income review.
Experience applying written credit policy and income guidelines consistently.
Solid understanding of credit, collateral, and title review, including CLTV, lien position, and valuation methods such as AVMs.
Working knowledge of Reg Z (TILA), ECOA and Reg B, FCRA, and fair lending principles.
Experience with a loan origination system and third-party verification tools.
Sound, independent judgment, with the ability to make and defend decisions in writing and recognize when to escalate.
Strong organization and attention to detail, with accurate and thorough documentation, including during periods of increased volume.
Clear written and verbal communication, including the ability to explain conditions and decisions in plain language.
A process-oriented approach and interest in improving underwriting processes.
Comfort working in a startup environment where processes are still being built.

Nice To Haves

Non-QM or HELOC underwriting experience.

Responsibilities

Underwrite HELOC applications from initial review through final decision, evaluating income, credit, assets, collateral, and title against Trovy’s credit policy.
Analyze complex income for self-employed borrowers, including Schedule C, Schedule E, K-1s, and business tax returns (Forms 1120S, 1065, and 1120), using business cash flow analysis consistent with Trovy’s policy.
Assess business stability and borrower access to business income, including ownership percentage, distributions, liquidity, and year-over-year trends.
Calculate and validate employment, rental, investment, and other income, and verify income using tax transcripts, paystubs, W-2s, and third-party verification tools.
Review credit reports, calculate DTI, and assess credit history, liabilities, and layered risk factors.
Evaluate collateral using AVMs and other valuation tools; review lien position, title, and property ownership, including trust-held property.
Identify red flags and potential fraud, and condition or escalate files as appropriate.
Document the rationale for each decision, including exceptions and conditions, so files are audit ready.
Communicate conditions and document requests clearly to the operations team and, when needed, borrowers.
Support adverse action processes and ensure decisions comply with ECOA and Reg B, FCRA, and fair lending requirements.
Help build Trovy’s underwriting playbook by drafting procedures, income worksheets, and job aids and flagging policy gaps or inconsistencies.
Partner with credit policy, operations, and product teams to improve decisioning workflows, automation, and the applicant experience.
Stay current on Trovy’s credit policy, state-specific requirements, and applicable lending regulations.