What are the responsibilities and job description for the Non QM Underwriter position at Deephaven Mortgage LLC?
Why Deephaven Mortgage?
Deephaven was founded in 2012 to provide mortgages to the millions of Americans who, for one reason or another, are unable to qualify for a traditional, government-backed loan. Deephaven champions those mortgage borrowers whose independence, entrepreneurial drive and determination are often the very reason why they can’t qualify for a traditional loan. Using ingenuity, supported by common-sense underwriting, we continuously and responsibly innovate new mortgage products and programs that put homeownership within reach of millions of borrowers and investors that need and deserve financing. We offer our loans through a network of 1,000 independent mortgage brokers. We also buy loans from more than 200 correspondent partners. Deephaven is headquartered in Charlotte, North Carolina and is owned by Pretium, a highly specialized investment manager focused on real estate, mortgage finance and corporate debt.
Job Overview
Underwriters are responsible for balancing the need to facilitate loans for real estate investments with the necessity to protect the financial institution from undue risk. They play a crucial role in ensuring that loans are underwritten according to established standards and guidelines.
What You’ll Do
- Manually underwrite mortgage loan transactions submitted by our Correspondent and Wholesale lending clients to company and investor credit guidelines
- Perform quality control audits of our third-party vendor to ensure mortgage loans met all company and investor credit guidelines and requirements
- Review loan scenarios and communicate purchase/funding eligibility requirements to our Correspondent and Wholesale lending clients
- Collaborate with internal staff (e.g., Underwriters, Account Managers, Processors, Closers, Operations Management, etc.) of our correspondent lending clients, brokers and third party-vendors throughout the review process to clear purchase/funding eligibility conditions
- Work closely with processing staff to clear loan conditions throughout the process
- Assist in handling loan-level credit and compliance questions & issues and in the preparation and dissemination of updated mortgage underwriting and compliance standards and procedures
- Any and all other duties as requested by management
What We Need
- 6 years of mortgage underwriting experience
- 3 years of manual underwriting experience, not reliant on AUS
- Non-QM or subprime experience preferred
- Encompass systems knowledge preferred
- Adopt the Deephaven culture that contributes to an environment of teamwork and promotes a positive company image to external customers
- Comply with Deephaven policies and procedures
- Complete all assigned training by required dates
- Ability to interpret, comprehend, and apply guidelines on a loan level basis
- Ability to manage pipeline to ensure SLA’s are met for initial underwrites, condition, and final condition reviews
- Ability to communicate effectively with others, both verbally and in writing
- Organized, analytical, detail oriented, and self-motivated
- Knowledge of current regulatory compliance requirements
- Ability to maintain the highest level of confidentiality
- Present self in a professional manner and interact with all levels of organization and outside contacts appropriately
- Proficient in MS Office including Word and Excel. Encompass 360 experience a plus.
- College degree or comparable work experience
- Ability to complete responsibilities effectively and efficiently with minimal direction.
- Manage daily tasks to ensure business needs are consistently met
You Are Someone Who
- Strives for accuracy and pays close attention to detail
- Enjoys building strong relationships with customers and team-members
- Promotes company values while providing optimal customer service
- Thrives in a fast-paced environment while embracing change and innovation
Our Perks
- Competitive base salary with employee incentive compensatino program
- 401(k) plan with an employer match
- Health insurance with a generous employer contribution that begins day one of employment
- Responsible Time Of
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