Underwriter Trainee- Recent college graduates wanted

thelender Underwriter University (UW University) is a structured, classroom-based training and career development program designed to develop the next generation of mortgage underwriting professionals. This program is open to recent college graduates and high-aptitude candidates without prior mortgage experience, providing them with the foundational knowledge, technical skills, and practical training needed to succeed as a residential mortgage underwriter.

UW University is purpose-built around theLender's NONI (DSCR/Debt Service Coverage Ratio) lending program, giving trainees a focused, specialized entry point into investment property mortgage underwriting. The NONI program qualifies borrowers based on property cash flow rather than personal income — making it an ideal training ground for learning credit, collateral, and documentation analysis without the complexity of personal income calculation. Graduates of the program follow a defined career path with performance-based progression through three distinct levels: UW University Trainee, Underwriter I, and Underwriter II.

Career Progression Summary

Stage

Title

Base Salary

Authority

Eligibility

Duration

Stage 1

UW University Trainee

$65,000

N/A (Training)

OT Eligible

6–8 Weeks

Stage 2

Underwriter I

$75,000

$500,000

OT Per-File Bonus

Min. 6 Months

Stage 3

Underwriter II

$85,000

Expanded

OT Per-File Bonus

Ongoing

All positions are eligible for overtime (OT). Underwriter I and Underwriter II positions are additionally eligible for a per-file production bonus. Promotion from each stage is contingent on demonstrated performance, skill development milestones, and management approval.

STAGE 1: UW University Trainee

Base Salary: $65,000 annually | OT Eligible

Role Summary

The UW University Trainee is a full-time, paid position within a 6–8 week intensive classroom-based training program. Trainees will receive structured instruction in mortgage fundamentals, credit analysis, regulatory requirements, and theLender's NONI underwriting guidelines. This role requires no prior mortgage experience; candidates are selected based on academic achievement, analytical aptitude, and demonstrated eagerness to learn.

Program Structure

• Duration: 6 to 8 weeks of classroom-based instruction.

• Format: Full-time, structured program led by experienced underwriting professionals.

• Focus: Deep-dive training on the NONI (Debt Service Coverage Ratio) investment property mortgage program.

• Trainees are not responsible for independent underwriting decisions during this phase.

• Performance is evaluated throughout training; trainees must meet minimum competency benchmarks to graduate.

Training Curriculum Overview

• Introduction to residential mortgage lending — loan lifecycle, key stakeholders, and industry terminology.

• Regulatory and compliance foundations — BSA/AML, RESPA, TILA, CFPB loan originator requirements.

• Credit analysis fundamentals — reading credit reports, scoring models, and borrower credit profile assessment in the context of NONI investment lending.

• Asset review and reserve documentation — verification of sufficient reserves, down payment sourcing, and entity documentation for LLC-held investment properties.

• Appraisal review basics — single-family residences, condominiums, multi-family, and PUDs.

• DSCR program guidelines — deep training on theLender’s NONI underwriting standards, including property cash flow analysis, DSCR ratio calculation, and investment property eligibility requirements.

• Fraud detection and red flag identification — LexisNexis, DataVerify Drive, and FraudGuard.

• Encompass LOS navigation — data entry, pipeline management, and file documentation standards.

• Loan decisioning — understanding approvals, suspense, conditions, counter-offers, and declines.

• Customer service standards — internal and external communication expectations and SLA requirements.

Candidate Qualifications

• Bachelor's degree preferred; candidates with equivalent analytical experience will be considered.

• No prior mortgage or underwriting experience required.

• Strong analytical and critical thinking skills with exceptional attention to detail.

• Excellent written and verbal communication skills.

• Ability to absorb and apply new information quickly in a fast-paced, structured learning environment.

• Proficiency in Microsoft Office Suite (Outlook, Word, Excel).

• Self-motivated, coachable, and committed to professional growth.

STAGE 2: Underwriter I

Base Salary: $75,000 annually | OT Eligible | Per-File Bonus Eligible

Underwriting Authority: $500,000 | Prerequisite: UW University Graduation

Role Summary

Upon successful graduation from UW University, trainees are promoted to Underwriter I. In this role, the Underwriter I independently underwrites NONI investment property mortgage loans under a $500,000 lending authority. The Underwriter I continues to deepen DSCR expertise while expanding product knowledge into Non-QM and Home Equity (HEM) product lines in preparation for advancement to Underwriter II.

Essential Job Functions

• Review, analyze, and issue decisions on NONI investment property mortgage loan files originated through theLender’s wholesale channel.

• Assess borrower creditworthiness through sound analytics supported by complete file documentation.

• Review loan files in accordance with investor, regulatory, and thelender bank policies and procedures.

• Manage assigned loans from RESPA through shipping within established service level agreements.

• Issue loan decisions including approvals, suspensions, counter-offers, and declines.

• Condition loan files for documentation; review received documentation and clear conditions when appropriate.

• Manage pipeline efficiently to meet turn-time and quality benchmarks.

• Provide responsive, professional service to internal and external customers.

• Prepare pipeline and performance reports for management as requested.

• Respond to e-mails and calls from internal and external customers within established SLAs.

• Review QC findings and trends; apply feedback to improve decision quality.

Essential Job Skills — DSCR Specialization

• Proficient application of theLender’s NONI underwriting guidelines and investment property eligibility standards.

• Thorough review of reserve documentation, down payment sourcing, and entity/LLC documentation.

• Analysis of credit reports and borrower credit profiles in the context of NONI loan eligibility.

• Appraisal review for SFR, condominiums, multi-family, and PUDs.

• Fraud detection and red flag identification using LexisNexis, DataVerify Drive, and FraudGuard.

• Encompass LOS proficiency — pipeline management, data entry, and documentation standards.

• Adherence to all RESPA, TILA, CFPB, and BSA/AML regulatory requirements.

Skill Building Expectations (toward UW II)

• Actively participate in supplemental training on Non-QHEM and Home Equity (HEM) product lines.

• Complete assigned coursework and achieve competency benchmarks within the 6-month development window.

• Income analysis methodologies

• Demonstrate consistent accuracy, quality, and pipeline management metrics at or above established thresholds.

• Accept and apply coaching from underwriting management and the Underwriting Support Manager.

Compensation & Benefits

• Base Salary: $75,000 annually.

• Overtime: Eligible for overtime pay in accordance with company policy.

• Per-File Bonus: Eligible for production-based per-file bonus (details governed by current bonus plan).

STAGE 3: Underwriter II

Base Salary: $85,000 annually | OT Eligible | Per-File Bonus Eligible

Expanded Underwriting Authority | Prerequisite: Min. 6 Months Successful UW I Performance Management Approval

Role Summary

Promotion to Underwriter II is available after a minimum of six months of successful performance as an Underwriter I, combined with demonstrated proficiency in Non-QHEM and Home Equity (HEM) product lines and overall skill development milestones. The Underwriter II carries an expanded lending authority and is expected to handle a broader, more complex loan product mix with greater independence.

Promotion Criteria

• Minimum 6 months of documented successful NONI underwriting performance as Underwriter I.

• Demonstrated competency in Non-QHEM and Home Equity (HEM) underwriting.

• Consistent performance at or above quality and productivity metrics established for Underwriter I.

• Positive performance review and management approval.

• No significant active corrective actions or unresolved quality concerns.

Essential Job Functions

• Independently underwrite investment and residential mortgage loans across DSCR, Non-QM, and Home Equity product lines.

• Apply expanded lending authority with sound risk judgment and full documentation support.

• Review loan files in full compliance with investor, regulatory, and theLender guidelines.

• Manage loans from RESPA through shipping, maintaining pipeline discipline and service levels.

• Issue decisions including approvals, suspensions, counter-offers, and declines across multiple product types.

• Condition files, review received documentation, and clear conditions in a timely and accurate manner.

• Stay current on changes in investor, regulatory, and bank guidelines; integrate changes into daily practice.

• Mentor and support UW University Trainees and Underwriter I colleagues as appropriate.

• Prepare reports for management; respond to QC findings and audits.

Advanced Skill Requirements

• Expert proficiency in NONI and Non-QHEM underwriting guidelines and risk analysis.

• Demonstrated ability to underwrite Home Equity and Second Mortgage products.

• Solid understanding of thelender investor guidelines and DSCR program overlays; working knowledge of applicable Non-QM and Home Equity guidelines.

• Proficient in LexisNexis, DataVerify, FraudGuard, Mavent, CoreLogic, and Encompass.

• Ability to identify complex fraud patterns and document risk mitigation strategies.

Compensation & Benefits

• Base Salary: $85,000 or higher, based on experience and performance at time of promotion.

• Overtime: Eligible for overtime pay in accordance with company policy.

• Per-File Bonus: Eligible for production-based per-file bonus (details governed by current bonus plan).

Core Competencies (All Levels)

• Attention to detail and analytical rigor.

• Sound credit judgment and risk awareness.

• Strong written and verbal communication skills.

• Customer-first mindset — superior service to internal and external clients.

• Ability to manage competing priorities within established service level agreements.

• Coachable, growth-oriented, and committed to continuous improvement.

• Compliance-first mindset with thorough knowledge of applicable regulations.

Compliance & Regulatory Requirements

• Must meet Consumer Financial Protection Bureau (CFPB) loan originator qualification requirements.

• Comply with all BSA/AML regulations and complete mandatory training on schedule.

• Adhere to all thelender, Inc. data security, privacy, and confidentiality requirements.

• Maintain current awareness of investor, agency, and regulatory guideline updates.