Wholesale Underwriter (Level 1)

Department: Wholesale Group

Employment Type: Full Time

Location: Bloomington, MN

Reporting To: Wholesale Underwriting Team Lead

Compensation: $80,000 - $100,000 / year

Description

Responsibilities and Duties:

• Underwrite credit, property, and applicable compliance documents (i.e. title, fraud reports, etc.) to ensure loans meet guidelines and represent an acceptable level of risk for origination. Strong underwriting knowledge of tax returns both business and personal and P&L statements a necessity.  Knowledge of bank statement income determination a definite plus.
• Communicate, solve and/or research underwriting issues, conditions, and/or concerns and present findings to address with brokers and/or internal partners.
• Review underwriting exception requests, determine compensating factors and present recommendations to exception approvers via system and process.
• Willingness to work within the Operational team daily to identify prioritization of files, conditions, etc. as well as any other duties necessary to acquire assets or as assigned by management.

Education and Experience:

• High School Diploma or equivalent
• Minimum of 3 years current Non-Agency (Non-QM) mortgage underwriting experience with full manual underwriting experience in income based on bank statements, Tax Returns, P&L statements
• In-depth knowledge of mortgage underwriting, mortgage product guidelines and the mortgage production process
• Knowledge of business purpose loan transactions a plus
• Current knowledge of state and federal compliance and regulatory environment
• Working knowledge of Microsoft Office suite with a high degree of comfort with Excel and review of spreadsheet data 
• Experience working with 3rd party providers a plus
• Strong oral and written communication skills
• Ability to work both independently and collaboratively within a small team environment.
• Experience and proven ability to establish relationships internally and externally with sales, brokers, processors, etc.

Benefits

• Great compensation package
• Attractive benefits plans and paid time off
• 401(k) w/ company matching
• Professional learning and development opportunities
• And much more!