What are the responsibilities and job description for the Mortgage Underwriter - Training Program position at Cake Mortgage Corp.?
Description
CAKE Mortgage is a cutting-edge wholesale mortgage lender specializing in Non-QM products. We're redefining the lending experience with innovative programs, streamlined processes, and a commitment to speed and precision. As we grow, we're looking for forward-thinking professionals who thrive in fast-paced, collaborative environments.
We're seeking a Mortgage Underwriter - Training Program participant to join our dynamic team. The Mortgage Underwriter - Training Program is a structured six-week development role designed to prepare participants to underwrite residential mortgage loans. During the program, the trainee gains hands-on experience with Non-QM loan products, credit risk assessment, regulatory compliance, and the company's loan origination technology. Upon successful completion of the program, the trainee assumes full underwriting responsibilities, evaluating loan applications and supporting documentation and rendering credit decisions in accordance with federal, state, investor, and company guidelines.
Key Responsibilities
Training Program Responsibilities (Weeks 1-6)
Complete all assigned coursework, evaluations, and mentorship requirements within the six-week training program.
Develop working knowledge of Non-QM loan products, program guidelines, and borrower eligibility requirements.
Learn credit risk assessment methodology, including income, asset, credit, and collateral analysis.
Gain proficiency in the company's loan origination and underwriting technology.
Apply federal, state, investor, and company compliance requirements to assigned loan files under the supervision of a senior underwriter.
Meet all program benchmarks and demonstrate readiness to underwrite independently upon completion.
Must pass 6 out of 10 test cases to get onto the floor.
Post-Training Responsibilities
Review loan applications and supporting documentation for accuracy, consistency, and completeness.
Evaluate credit risk in accordance with federal, state, investor, and company guidelines.
Render underwriting decisions across the assigned range of mortgage products.
Issue loan approvals, suspensions, and denials clearly, promptly, and with well-documented rationale.
Ensure full regulatory and guideline compliance throughout the loan process.
Maintain established standards for file quality, turn times, and communication.
Collaborate with clients, sales, and account executives to resolve file conditions and issues.
Perform other related duties as required and assigned.
Requirements
Education
High School Diploma or GED required.
Bachelor's degree in Finance, Accounting, Business Administration, Economics, Mathematics, or a related field preferred, but not required.
System Knowledge
Experience with Encompass or a comparable loan origination system preferred; system training is provided during the program.
Experience
1-3 years of underwriting experience preferred, specifically in a Non-QM environment.
Experience in a production-based, deadline-driven work environment preferred.
Experience in a fast-paced, high-volume setting preferred.
Knowledge, Skills & Abilities
Strong analytical, problem-solving, and decision-making skills with a high level of attention to detail.
Excellent written and verbal communication skills.
Ability to learn and apply complex guidelines, regulations, and program requirements.
Ability to work effectively in a fast-paced, deadline-driven environment.
Demonstrated eagerness to learn and grow within a high-performance, team-oriented culture.
Ability to manage an assigned pipeline and prioritize competing deadlines.
Proficiency with Microsoft Office Suite and the systems and tools required for the position.
Ability to maintain confidentiality and exercise sound judgment when handling sensitive borrower information.
Physical Requirements
Prolonged periods of sitting and working at a computer workstation.
Ability to communicate effectively in person, by phone, and through electronic communication tools.
Ability to occasionally travel for meetings, conferences, training, or business development needs.
Work Environment
This position operates in a professional office. Employees working remotely are required to maintain a dedicated, secure workspace and a reliable internet connection sufficient to protect non-public personal information. The employee may be required to manage multiple priorities, communicate with internal and external stakeholders, and adapt to changing business requirements.
Why Join CAKE Mortgage?
Be part of a fast-growing company changing the game in Non-QM.
Competitive compensation and performance-based bonuses.
Collaborative and entrepreneurial culture.
Opportunities for career advancement and innovation.
Cake Mortgage does not tolerate discrimination of any type. Cake Mortgage offers equal employment opportunity to all qualified persons without regard to race, age, color, religion, sex/gender, gender identity, sexual orientation, marital status, medical condition, military or veteran status, national origin, ancestry, disability, or any other considerations made unlawful by Federal, State, or Local law. Cake Mortgage provides eligible and qualified employees with opportunities to advance. Cake Mortgage is an at will employer. Cake Mortgage is committed to providing employees with a work environment free of discrimination and harassment.
Salary : $59,500 - $68,000