Non-QM Underwriter

Overview

Responsible for the prudent underwriting of Non-QM loans in accordance with company and investor guidelines. The duties for Non-QM Underwriter include, but are not limited to, those described below.

PRMG offers a comprehensive benefits package for our full-time employees and their dependents, which includes medical, dental, vision, life insurance, short-term disability, long-term disability, a Health Savings Account (HSA), a Flexible Spending Account (FSA), and various other products, based on benefits eligibility, elections, and employee premiums. Upon hire, you will be eligible to enroll in all our company-sponsored benefit programs (Medical, Dental, Life, and Voluntary) on the first of the following month. After completing 60 days, you will be eligible to enroll in our 401(k) program on the first of the following month. Additionally, eligible employees may apply for job openings through PRMG’s Internal and External Job Portal to request a transfer to a different department or position.

Essential Job Functions:

• Communication: Liaises among borrowers, investors and escrow companies to communicate decisions on loans.
• Organization: Ensures loan files are complete with all outstanding issues addressed.
• Equipment: Uses such office equipment as computer terminals, copiers and FAX machines.
• Physical: Sits for extended time periods. Hearing and vision within normal ranges.

Responsibilities

• Completes a thorough analysis of loan files to determine compliance with company and investor guidelines.
• Evaluates the entire credit package and collateral for residential mortgage loans and ultimately ensures an “investment” quality loan product.
• Checks accuracy of all calculations and data integrity.
• Completion of all required underwriting worksheets found in FastTrac 360 Resource Center.
• Recommends the loan disposition to underwriting manager for loan amounts in excess of authority limitation.
• Maintains company standard for productivity level and complies with company policy of 48 hour underwriting turnaround time and 24 hour turnaround time for clearing conditions.
• Strives to meet 2 decisions/day within allotted time.
• Communicates decision on loans to appropriate parties both verbally and in writing.
• Maintains underwriting activity logs and provides monthly underwriting report to underwriting manager.
• Frontline underwriting of non-QM loan products.
• Perform a thorough analysis of the applicant's income and expense data, asset documentation, credit reports, and property valuations.
• Performing manual underwriting, requiring a detailed familiarity with various loan programs.
• Executing an appraisal analysis to determine that acceptable collateral standards are met.
• Additional related duties may be assigned, as required.
• Available to processors for general guideline interpretations and questions on specific loan files.
• Responds to post closing reviews and audits in a timely fashion.
• Performs related duties, as directed by Underwriting or Operations Manager.

Qualifications

• Minimum five years of recent NON-QM mortgage underwriting experience, with solid working knowledge of underwriting guidelines to include FNMA, FHLMC, and NON-QM Investors.
• Ability to review & calculate complex personal and/or business financials and tax profiles.
• Excellent written and verbal communication.
• Experience working in a fast-paced team environment.
• Encompass loan origination system experience required 5 years

Skills:

• Strong interpersonal-communication and business-relationship skills
• Detail oriented
• Excellent written and verbal communication skills
• Technologically proficient in MS Windows software

Education:

• High school diploma

Travel:

• None

Min

Max

Salary : $70,000 - $105,000