Underwriter NonQM/Non-Agency at Cake Mortgage Corp.

Los Angeles, California, United States -

Full Time

Start Date

Immediate

Expiry Date

16 Jul, 26

Salary

0.0

Posted On

17 Apr, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Non-QM Underwriting, Non-Agency Underwriting, Manual Underwriting, DSCR, Bank Statement Analysis, P&L Analysis, WVOE, 1099 Analysis, Asset Utilization, Encompass, Credit Analysis, Loan Structuring, Risk Assessment, Fraud Detection, Regulatory Compliance, Communication

Industry

Financial Services

Description

Description ***Will consider remote work if residence is 30 miles from Chatsworth, CA.*** 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 are seeking an Underwriter NonQM and Non-Agency to join our team here at Cake Mortgage. These individuals will have extensive background making manual credit decisions on a broad spectrum of loans on a delegated basis to include experience working with DSCR, Bank Statement, P&L, WVOE, 1099, and Asset Utilization loans. Key Responsibilities Be primary point of contact as subject matter expert (SME) assisting salesforce and business partners in structuring eligible loans in conjunction with the Company’s third-party originators. Interpret and provide appropriate loan solutions for NonQM/Non-Agency loan requests Analyze borrower’s credit file, collateral and capacity to ensure credit-worthiness Perform manual underwriting review to ensure loan meets all product and property guidelines of Company and investors, as well as compliance with corporate and secondary market investor standards. Underwrite Non-Agency/NonQM correspondent, wholesale/broker and retail loans in a timely manner to ensure loan meets all product and property guidelines of Company and investors, as well as meeting all established loan policies, credit limits and regulatory requirements. Clear conditions timely on loans; affirm data integrity on all submissions Identify potential misrepresentation or fraud. Keep up-to-date with all guideline changes and system enhancements. Requirements Working knowledge of Non-Agency/NonQM underwriting guidelines demonstrated through a minimum of 5+ years underwriting experience on Non-Agency/NonQM products Experience with DSCR, Bank statement, P&L Only, WVOE Only, 1099 Only Ability to read and comprehend new programs and underwriting guidelines FHA and VA underwriting experience preferred Working knowledge of Microsoft products Experience with LOS platform Encompass High attention to detail and effective problem-solving skills Ability to work independently, with minimal supervision Ability to multitask in a high-volume environment Excellent written and oral communication skills Continuous focus on the customer experience 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 Underwriter will serve as a subject matter expert to assist sales and business partners in structuring eligible Non-QM/Non-Agency loans. They are responsible for performing manual underwriting reviews to ensure compliance with company, investor, and regulatory standards.