Mortgage Underwriter jobs in New Jersey

Position Overview: We are looking for a highly skilled Underwriter with expertise in underwriting bridge loans and Non-QM (Non-Qualified Mortgage) products, particularly DSCR (Debt Service Coverage Ratio) loans. The successful candidate will have a deep understanding of underwriting guidelines, risk assessment, and regulatory compliance related to these specialized loan products. This is an exciting opportunity to join a dynamic team and contribute to the success of our organization.

Responsibilities:

• Evaluate loan applications and documentation to determine creditworthiness and compliance with underwriting guidelines
• Analyze borrower financial statements, tax returns, credit reports, and other relevant documentation
• Assess property appraisals and valuation reports to ensure accuracy and adequacy of collateral
• Calculate Debt Service Coverage Ratio (DSCR) for Non-QM loans and other relevant financial metrics
• Review and interpret complex legal documents such as purchase contracts and loan agreements
• Collaborate with loan officers, processors, and other stakeholders to resolve underwriting issues and expedite loan approvals
• Ensure compliance with all regulatory requirements, investor guidelines, and company policies
• Provide guidance and support to junior underwriters and other team members as needed

Requirements:

• Minimum of  5 years of experience as a mortgage underwriter
• Demonstrated expertise in underwriting bridge loans and Non-QM products, including DSCR loans
• Strong understanding of underwriting principles, guidelines, and risk assessment methodologies
• Proficiency in using underwriting software and systems
• Excellent analytical and problem-solving skills
• Ability to effectively communicate underwriting decisions and rationale
• Detail-oriented with a commitment to accuracy and quality
• Knowledge of relevant regulatory guidelines and compliance requirements
• Bachelor's degree in finance, business administration, or related field preferred

Location: Jersey City, NJ