What are the responsibilities and job description for the Wholesale Underwriter (Level 1) position at Invictus Capital Partners / Verus Mortgage Capital?
Wholesale Underwriter (Level 1)
Department: Wholesale Group
Employment Type: Full Time
Location: Bloomington, MN
Reporting To: Wholesale Underwriting Team Lead
Compensation: $80,000 - $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 Wholesale 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 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:
- High School Diploma or equivalent
- Minimum of 3 years current Non-Agency (Non-QM) mortgage underwriting experience with full manual underwriting experience in income based on bank statements, Tax Returns, P&L statements
- 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 a 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.
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.
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 welcome 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.
Salary : $80,000 - $100,000
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