Condo Underwriter at Cake Mortgage Corp.

Los Angeles, California, United States -

Full Time

Start Date

Immediate

Expiry Date

16 Feb, 26

Salary

0.0

Posted On

18 Nov, 25

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Condominium Underwriting, Project Review, Collateral Analysis, Analytical Skills, Problem-Solving, Attention to Detail, Communication Skills, Team Collaboration, Risk Assessment, Regulatory Guidelines, Loan Origination Systems, Financial Stability Analysis, Documentation Accuracy, Quality Control, Process Improvement, Project Eligibility

Industry

Financial Services

Description

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. The Condo Underwriter is responsible for reviewing and approving condominium projects for Non-QM loans in alignment with internal guidelines and investor requirements. This role conducts detailed assessments of project documentation, identifies potential risks, and ensures project eligibility to support accurate and salable loan decisions. Key Responsibilities Review and underwrite condominium project approvals for Non-QM loans in accordance with company guidelines and investor standards. Analyze HOA documents, budgets, insurance policies, and legal project materials to determine project eligibility and financial stability. Evaluate key project characteristics such as occupancy ratios, litigation, special assessments, and reserve funding. Collaborate with collateral, credit, and operations teams to ensure all documentation required for condo review is complete and accurate. Maintain up-to-date knowledge of Non-QM condo project requirements and regulatory guidelines impacting condominium financing. Identify, assess, and mitigate potential project risks that could affect loan salability or investor acceptance. Prepare detailed project review summaries and communicate findings clearly to internal teams and management. Provide guidance and support to underwriters and account managers regarding condominium eligibility standards. Partner with management to recommend enhancements to condo review policies, procedures, and workflows. Assist in developing review templates, job aids, and process improvements to promote accuracy, consistency, and efficiency. Participate in quality control reviews and audits related to condominium underwriting. Maintain accurate records of all condo reviews and approvals in accordance with company documentation standards. Coordinate with internal and external stakeholders to resolve pending items and obtain final condo approval decisions. Requirements 3–5 years of experience in condominium underwriting, project review, or collateral analysis within the mortgage industry. Strong understanding of condominium project eligibility requirements for Non-QM or portfolio lending programs. Familiarity with investor and regulatory guidelines related to condo approvals (e.g., FNMA, FHLMC, and Non-QM equivalents). Experience with loan origination systems (LOS), preferably Encompass. Excellent analytical and problem-solving skills with strong attention to detail. Strong written and verbal communication skills. Ability to work independently while contributing effectively within a team environment. Proven ability to manage multiple condo reviews in a fast-paced, deadline-driven environment. 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.

Responsibilities

The Condo Underwriter reviews and approves condominium projects for Non-QM loans, ensuring alignment with internal guidelines and investor requirements. This role involves detailed assessments of project documentation and risk identification to support accurate loan decisions.