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Open nowPosted 49 days ago

Contract Due Diligence Underwriter

PLACE Corporate Careers24 open roles

Where
Remote
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Remote
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Your applicationOpen nowContract Due Diligence UnderwriterPLACE Corporate Careers · Remote
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The clock on this job

Early applications get read.

13.3% of postings close within 7 days. Measured by our own scanner across the market. PLACE Corporate Careers postings stay open a median of 36 days.

Share of postings closed within
  1. 2.1%1 day
  2. 4.6%3 days
  3. 13.3%7 days
  4. 21.3%14 days
  5. 35.7%30 days
  6. 59.1%60 days
This job: posted 49 days ago

PLACE Corporate Careers median: 36 days open

The posting

Your Opportunity:

We were founded by homebuyers who were shocked by the complexity and inefficiencies of the mortgage process for borrowers and lending teams alike. We've built a platform that has not only streamlined the process and made it more efficient — closing loans 45%+ faster — but has made mortgages more accessible in the process. Our mission is clear: democratize mortgages by helping lenders work more efficiently and stay compliant while eliminating the barrier to entry and the stress for the borrower.

This is YOUR CHANCE to bring rigor and precision to a mission that's reshaping how mortgages get made. As our Contract Due Diligence Underwriter, you'll dig into multi-state Non-QM, Conventional, Jumbo, Government, Correspondent, and business purpose loan packages, protecting the integrity of the loan manufacturing process for both purchases and refinances. If you thrive on detail, believe compliance and efficiency aren't at odds, and want to help spread financial empowerment, this is your Maxwell.

What You're Great At:

You are someone who enjoys digging in to ensure loan files are accurate and compliant with regulatory standards. You understand what's needed to properly investigate inconsistencies in loan files to protect against fraud, negligence, errors, and omissions. Specifically, you bring:

  • Strong working knowledge and experience in the LauraMac Due Diligence software system
  • 5+ years of current experience in underwriting, preferably with prior experience in Quality Control
  • Minimum 1-year Due Diligence experience at a mortgage lending institution
  • Familiarity with best practices for post-close quality control on newly and seasoned originated mortgages
  • Strong knowledge of Fannie Mae/Freddie Mac guidelines, QM/ATR
  • Proficiency in Non-QM loan processes and requirements
  • A deep understanding of DSCR/business purpose loans
  • The ability to work with multiple investor guidelines and overlays
  • Strong ability to properly calculate income across a variety of earning types, from wage earners to business/self-employed income
  • Strong appraisal review skills
  • Excellent analytical and communication skills
  • Proficiency in pipeline management with the ability to multitask in a high-volume environment
  • The ability to work independently as well as contribute in a team environment

What You'll Do:

  • Review mortgage loan files to ensure the accuracy of the information and verify the presence of all required documents
  • Perform due diligence review of the residential mortgage loan application and documentation as submitted to ensure loans meet specific investor/product guidelines and AUS requirements as applicable
  • Analyze borrower's credit profile, collateral, and capacity to repay the proposed mortgage obligation, including accurately calculating income and ensuring the borrower's ability to repay
  • Properly calculate and analyze loan-to-value ratios and debt carried
  • Analyze purchase contracts, title commitments, and other loan-pertinent documentation
  • Enter review results into the company's proprietary software
  • Execute risk analysis and make decisions regarding deficiencies identified during the review process, recommending resolution
  • Stay current on all agency, state, and multiple investor guidelines
  • Participate in ongoing training as the industry evolves
  • Manage time efficiently and prioritize workloads to meet minimum daily production goals
  • Clear QA feedback and perform within department audit standards
  • Adhere to the company's Core Values
  • Other duties as assigned by manager

Salary: This is a contract position and payment will be made per file, depending on the type of loan reviewed.

Why PLACE:

We are a company focused on a supportive, diverse, and inclusive culture — lived through our values of Rigor, Ownership, Curiosity, Kindness, and "Straight Up" — to bring equality to the mortgage process and spread financial empowerment. We believe people do their best work when they're trusted, supported, and given the tools to solve real problems. Join us in helping lenders work more efficiently while making the path to homeownership less stressful for everyone involved.

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