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Underwriting Specialist
| Company | Figure |
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| Location | Charlotte, NC, USA |
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| Salary | $33 – $39 |
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| Type | Full-Time |
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| Degrees | Bachelor’s |
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| Experience Level | Mid Level, Senior |
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Requirements
- 3+ years of underwriting experience, with a focus on Jumbo and Non-QM 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.
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.
Preferred Qualifications
- Bachelor’s degree in Business, Finance, or a related field preferred.
