Job Details

Non-Agency (Non-QM) Underwriter

Department: Wholesale Group

Employment Type: Full Time

Location: Bloomington, MN

Reporting To: Wholesale Underwriting Team Lead

Compensation: $90,000 - $100,000 / year

Description

This is an exciting opportunity to join a growing company in an emerging market. We offer a fast-paced and fun environment where your input and experience are valued.

Verus Mortgage Capital is seeking a Non-Agency (Non-QM) Underwriter to provide support in all aspects of the underwriting process for a variety of mortgage products and property types. We have openings for this role including the opportunity to work remotely. You will work with Verus management and staff to successfully fund mortgage transactions within established timeframes. The ideal candidate will possess strong underwriting, compliance, analytical skills, and communication with the ability to address credit risk issues with both external and internal partners.

Responsibilities and Duties:

• Underwrite credit, property, and applicable compliance documents (i.e. title, fraud reports, etc.) to ensure loans meet guidelines and represent an acceptable level of risk for origination. Strong underwriting knowledge of tax returns both business and personal and P&L statements are a necessity. Knowledge of bank statement income determination a definite plus.
• Communicate, solve and/or research underwriting issues, conditions, and/or concerns and present findings to address with brokers and/or internal partners.
• Review underwriting exception requests, determine compensating factors and present recommendations to exception approvers via system and process.
• Willingness to work within the Operational team daily to identify prioritization of files, conditions, etc. as well as any other duties necessary to acquire assets or as assigned by management.

Education and Experience:

• A minimum of 3 years current non-agency (non-qm) & alternative doc mortgage underwriting experience is required.
• High School Diploma or equivalent
• In depth knowledge of mortgage underwriting, mortgage product guidelines and the mortgage production process
• Knowledge of business purpose loan transactions a plus
• Current knowledge of state and federal compliance and regulatory environment
• Working knowledge of Microsoft Office suite with high degree of comfort with excel and review of spreadsheet data
• Experience working with 3rd party providers a plus
• Strong oral and written communication skills
• Ability to work both independently and collaboratively within a small team environment.
• Experience and proven ability to establish relationships internally and externally with sales, brokers, processors, etc.

Key Competencies

• Credit & Compliance Knowledge: Skilled in underwriting a variety of loan documents and ensuring compliance with guidelines and regulations.
• Analytical Thinking: Able to assess complex financial data (tax returns, P&Ls, bank statements) to evaluate risk.
• Communication Skills: Clearly communicates decisions and collaborates with brokers and internal teams.
• Tech Proficiency: Comfortable using Excel and mortgage-related systems to review and analyze data.
• Problem-Solving: Resolves underwriting issues and handles exception requests with sound judgment.
• Team Collaboration: Works flexibly with operations and adapts to shifting priorities.

How This Role Demonstrates Our Values

• Integrity: Ensuring compliance with regulatory guidelines and ethical lending practices by conducting thorough and accurate underwriting reviews that align with industry standards.
• Collaboration: Working closely with internal teams and external partners, such as brokers and processors, to facilitate a seamless loan approval process and achieve shared business goals.
• Excellence: Demonstrating a commitment to high-quality underwriting by meticulously analyzing complex financial documents and consistently delivering accurate and efficient loan decisions.
• Critical Curiosity: Applying a proactive and inquisitive approach to underwriting, continuously seeking to understand complex financial situations and identify solutions that align with risk guidelines.

Benefits

• Great compensation package
• Attractive benefits plans and paid time off
• 401(k) w/ company matching
• Professional learning and development opportunities
• And much more!

Successful applicants will exemplify strong ethics, integrity, respect for others, accountability for decisions and actions, and good citizenship.

Maintaining a reliable, uninterrupted high speed internet connection is a requirement of hybrid or remote positions.

All job duties and responsibilities must be performed within the guidelines of the Verus Residential Mortgage Employee Handbook and established company policies and procedures. It is the responsibility of each employee to maintain confidentiality of the company, its clients and to follow applicable laws and regulations in the performance of duties.

Verus Mortgage Capital is an equal opportunity employer. All qualified applicants are welcomed to apply and will receive consideration for employment without unlawful discrimination because of a person's race, religious creed, color, national origin, citizenship status, ancestry, marital status, sex, age, or sexual orientation, or because of a person's disability or medical condition.