Senior Non-QM Underwriter

🕒 March 12

⛰️ Colorado, Minnesota, +1 more states – Remote

⛰️ Colorado – Remote ❄️ Minnesota – Remote 🤠 Texas – Remote

💵 $92k - $120k / year

⏰ Full Time

🟠 Senior

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Redwood Trust, Inc.

WebsiteLinkedInAll Job Openings

51 - 200 employees

Founded 1994

💸 Finance

🏠 Real Estate

🤝 B2B

💰 Post-IPO Debt on 2023-01

Finance • Real Estate • B2B

Redwood Trust, Inc. is a leading participant in several distinct areas of housing credit, focusing on a diverse mix of residential, business purpose, and multifamily investments. The company's mission is to make quality housing—whether rented or owned—accessible to all Americans, emphasizing safe and well-structured loans. With a commitment to innovative credit risk management and superior execution, Redwood Trust aims to champion solutions that support high-quality housing for consumers.

📋 Description

• Ability to analyze the underwriting of conventional and jumbo Non-QM mortgage loans in a timely manner for completeness and compliance with Redwood purchase guidelines and approved Seller variances • Must be able to analyze multiple alternative income methods of income (ie: complicated tax returns, bank statements, DSCR, 1099, asset depletion) • Manage loan conditions from credit, property, and compliance reviews with Sellers and external 3rd party service due diligence providers • Evaluate and provide recommendations for underwriting waivers and eligibility exceptions • Clearly communicate, in written and verbal form, compensating factors to justify exceptions • Provide support to Redwood Sellers by evaluating and supplying feedback on loan scenarios, at times based on limited information • Understand and effectively work with Seller variances to product eligibility and underwriting guidelines • Participate in and provide clear feedback on credit policy recommendations • Maintain strong knowledge of mortgage compliance rules agency underwriting guidelines and industry standards for appraisal requirements and regulatory compliance • Participate in evaluating current loan review processes and provide feedback and recommendations to increase efficiency and risk management capabilities • Participate with Credit in onboarding new Non-QM sellers and provide underwriting training as needed • Consistently access third party services (valuation, fraud, compliance) to provide valuable input for loan decisions

🎯 Requirements

• 7+ years of recent mortgage industry experience • 3+ years recent conforming Non-QM underwriting experience • 3+ years of recent jumbo Non-QM underwriting or complex/alternative income analysis • Expert underwriting knowledge and extensive experience with loan origination documentation as well as Fannie and Freddie selling guides • Technologically savvy, with the ability to work in varied systems • Proficiency with Excel, loan origination systems, automated underwriting engines, electronic document management and other systems • High attention to detail and effective problem-solving skills • Excellent client service skills • Excellent oral and written communication skills • Excellent multi-tasking skills and ability to manage multiple tasks simultaneously • Analytical thinking ability, diplomacy and professionalism

🏖️ Benefits

• discretionary corporate bonus program • multiple health plans • STD and LTD options • company sponsored life insurance • fitness reimbursement • paid parental leave • time to volunteer • Paid Time off • ESPP • 401K matching