Underwriting Specialist

Figure Lending • Charlotte, NC

5d • Hybrid

About The Position

Figure is looking for an Underwriter Specialist to join our dynamic team. This role will be key in developing and maintaining underwriting processes and ensuring our loan products adhere to all regulatory and internal standards. The ideal candidate will bring expertise in underwriting various loan products and contribute to enhancing operational efficiency and product innovation.

Requirements

• 3+ years of underwriting experience, with a focus on conventional, portfolio, and special program loans.
• Expertise in underwriting guidelines, including Self-Employed borrowers, Trusts, LLCs, Powers of Attorney (POA), and Debt Service Coverage Ratios (DSCR).
• Familiarity with underwriting tools and systems (e.g., DU, LP), as well as proficiency in Google Workspace and/or Microsoft Office Suite.
• Knowledge of federal and state regulations, including those set by the CFPB, FHA, VA, and other relevant bodies.
• Ability to analyze and interpret financial data and make independent underwriting decisions.
• Strong attention to detail and the ability to manage multiple tasks in a fast-paced environment.
• Excellent organizational, communication, and time management skills.
• Ability to work collaboratively across teams to resolve issues and ensure the timely processing of loans.
• Ability to thrive in a dynamic, startup-like environment.

Nice To Haves

• Bachelor’s degree in Business, Finance, or a related field preferred.

Responsibilities

• Review and underwrite loan applications, ensuring compliance with company policies, investor guidelines, and applicable regulations.
• Apply underwriting guidelines for diverse loan products, including those for Self-Employed borrowers, Trusts, LLCs (Limited Liability Companies), POA Power of Attorney), and DSCR (Debt Service Coverage Ratio).
• Analyze complex financial data, such as tax returns, income statements, and business documentation, to make informed lending decisions.
• Collaborate with the Senior Operations Manager and underwriting team to develop and refine underwriting guidelines for new products.
• Monitor key performance metrics for underwriting accuracy, efficiency, and compliance.
• Provide feedback on loan applications and collaborate with cross-functional teams (e.g., Product, Legal, Credit) to resolve issues and ensure seamless loan processing.
• Ensure accuracy and completeness of loan documentation, including reviewing credit, collateral, and income verification.
• Help create and maintain training materials, underwriting procedures, and compliance documentation.
• Stay current with industry regulations, investor requirements, and best practices related to underwriting.
• Support efforts to improve underwriting efficiency, quality, and compliance across new loan products.
• Assist in responding to loan repurchase requests, underwriting deficiencies, and any other challenges that arise.

Benefits

• Comprehensive medical, dental, and vision coverage, with 100% employer-paid premiums for employees and their dependents on select plans
• Company HSA, FSA, Dependent Care FSA, 401(k), and commuter benefits
• Employer-paid life and disability insurance
• 11 observed holidays and PTO plan
• Up to 12 weeks of paid family leave
• Continuing education reimbursement

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree