Non-QM Underwriter- IN OFFICE

Position Overview: We are looking for a highly skilled Underwriter with expertise in underwriting bridge loans and Non-QM (Non-Qualified Mortgage) products, particularly DSCR (Debt Service Coverage Ratio) loans. The successful candidate will have a deep understanding of underwriting guidelines, risk assessment, and regulatory compliance related to these specialized loan products. This is an exciting opportunity to join a dynamic team and contribute to the success of our organization.

Responsibilities:

Evaluate loan applications and documentation to determine creditworthiness and compliance with underwriting guidelines

Analyze borrower financial statements, tax returns, credit reports, and other relevant documentation

Assess property appraisals and valuation reports to ensure accuracy and adequacy of collateral

Calculate Debt Service Coverage Ratio (DSCR) for Non-QM loans and other relevant financial metrics

Review and interpret complex legal documents such as purchase contracts and loan agreements

Collaborate with loan officers, processors, and other stakeholders to resolve underwriting issues and expedite loan approvals

Ensure compliance with all regulatory requirements, investor guidelines, and company policies

Provide guidance and support to junior underwriters and other team members as needed

Requirements:

Minimum of 5 years of experience as a mortgage underwriter

Demonstrated expertise in underwriting bridge loans and Non-QM products, including DSCR loans

Strong understanding of underwriting principles, guidelines, and risk assessment methodologies

Proficiency in using underwriting software and systems

Excellent analytical and problem-solving skills

Ability to effectively communicate underwriting decisions and rationale

Detail-oriented with a commitment to accuracy and quality

Knowledge of relevant regulatory guidelines and compliance requirements

Bachelor's degree in finance, business administration, or related field preferred

Location: Jersey City, NJ