What are the responsibilities and job description for the Non-QM Underwriter position at Z Loans Funding?
Z Loans is seeking an experienced Wholesale Non-QM Underwriter to join our growing team. This role is responsible for evaluating complex mortgage loan files and making credit decisions across a wide range of products.
The ideal candidate brings strong expertise in a wholesale environment, manual underwriting and thrives in a fast-paced environment working with non-traditional borrower scenarios.
Responsibilities
- Underwrite Non-QM and Non-Agency mortgage loans from initial review through final decision
- Analyze borrower credit, income, assets, and collateral to determine overall risk and eligibility
- Evaluate non-traditional income sources, including bank statements, 1099s, profit & loss statements, DSCR, WVOE, and asset utilization
- Ensure loans meet internal guidelines as well as investor requirements
- Issue clear, well-documented credit decisions, including conditions, suspensions, and denials
- Reassess and update loan decisions as additional documentation is received
- Utilize AUS (DU/LP) and LOS platforms to review and validate loan data
- Review third-party reports such as appraisals, title, and fraud tools to identify potential risks
- Partner with account executives and brokers to help structure eligible loan scenarios
- Maintain strong pipeline management while meeting turnaround time expectations
- Assist with post-closing conditions or escalations as needed
- Ensure all files are complete, accurate, and compliant with ATR/QM standards where applicable
Qualifications
- Minimum 5 years of recent wholesale underwriting experience focused on Non-QM and Non-Agency mortgage loans
- Strong background in manual underwriting and complex credit analysis
- Hands-on experience with DSCR, bank statement, P&L, 1099, WVOE, and asset-based lending programs
- Proficiency with AUS systems (DU/LP) and common LOS platforms
- Experience with MeridianLink or LendingQB
- Strong ability to interpret detailed financial documents and assess risk
- Familiarity with fraud detection tools and title review
- Excellent communication and decision-making skills
- Highly organized with the ability to manage multiple loans simultaneously