Non-QM Underwriting Team Lead - NQM Funding, LLC

NQM Funding, LLC is a top secondary market investor in the Non-QM space operating both wholesale and correspondent channels. Our relationship with a global investment management firm, NQM Funding, LLC offers cutting edge Non-QM programs, excellent service, and competitive pricing. Non-QM loans are our only focus.

Our Corporate Headquarters, located in Boca Raton, Florida, is looking to hire a Non-QM Underwriting Team Lead.

ALL REMOTE POSITIONS REQUIRE A DOWNLOAD SPEED OF NO LESS THAN 50 MBPS.

Job Title: Non-QM Underwriting Team Lead

Reports To: AVP of Non-QM Underwriting

FLSA Status: Exempt

Department: TPO Underwriting

Division: TPO

Salary Range: $115K to $140K per year

Summary: Responsible for the management of an underwriting team supporting non-QM production. In addition to managing the team, responsible for underwriting of non-agency and non-QM loans as well as reviewing supporting documentation to assess borrowers' creditworthiness and ability to repay the mortgage obligation. Supporting documentation to include, but not limited to, credit reports, income documentation, asset documentation, appraisals and collateral reports, fraud prevention tools and any other documents necessary to render a decision.

Duties and Responsibilities:

• Manage and develop a highly analytical underwriting team
• Assign and prioritize workflow for team members
• Complete second level loan reviews for team members
• Assist underwriters, operations and origination partners with loan level escalations and work towards resolution of those escalations
• Communicate loan decisions in a timely manner to all parties
• Ability to manually underwrite complex transactions to ensure the loan meets established underwriting guidelines.
• Compute income and debt ratio calculations following program guidelines and ability to repay requirements.
• Perform mortgage credit analysis with or without the assistance of an automated underwriting system and ensure lending decisions follow company guidelines and policies.
• Perform detailed analysis and review of appraisal for one-to-four family residential, 5-10 unit properties and mixes use properties to determine acceptability of security for loan programs.
• Review loan documents for accuracy and consistency and address discrepancies as necessary.
• Issue loan decisions to our business partners in a clear and concise manner.
• Document decisions via loan origination platform and complete all final loan decision forms as required.
• Prepare reports detailing risk assessment findings and other data that contribute to lending decisions
• Conduct risk assessments on potential clients based on previous borrowing history, credit rating, industry experience and other factors.
• Provide mentoring, training and second signature on loans for underwriters attaining increased level of authority to include non-agency / non-QM loans.
• Performs other related duties as assigned.

Skills:

• Strong knowledge of credit risk, business finance, capital funding, contracts, and partnerships.
• Sound understanding of risk management.
• Effective attention to detail and a high degree of accuracy.
• High level of integrity, confidentially, and accountability.
• Results oriented, problem solver, strategic thinker and planner.
• Driven to help profitably grow company sales.
• Strong relationship builder internally and externally.
• Effectively communicate business performance at all levels.
• Motivated to develop and mentor people.
• Proven ability to lead and develop a strong team.
• Good listener and advisor.

Education/Experience:

• Bachelor’s degree in business or finance, or equivalent work experience
• Minimum of 7 years of experience within the financial services industry in progressively more responsible positions.
• 2+ years of Current Non-QM Experience Required, with an expertise in analyzing Bank Statements, DSCR, P&L Only, Asset Utilization, and Mixed Use Transactions
• 3+ years of Underwriting Management Experience Required
• Wholesale or Correspondent Experience Required

NQM Funding, LLC offers the following benefits:

• Medical Plan
• Dental Plan
• Vision Plan
• GAP Insurance
• Life Insurance paid by the company
• Voluntary Life Insurance
• 401K
• Pet Insurance
• Legal Shield/ID Shield

Equal Employment Opportunity:

NQM Funding, LLC management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment.

NQM Funding, LLC will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.

NQM Funding, LLC will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to NQM Funding, LLC.