Senior Underwriter

About Emporium: Emporium TPO has been named a Top Workplace three years in a row in the 2024, 2025, & 2026 Scotsman Guide!

Emporium is a wholesale origination platform dedicated to servicing professional mortgage brokers and non-delegated correspondent lenders. Our aspirations at Emporium are simple: build a team of talented individuals with shared values who think and behave like owners, create a culture focused on exceptional customer service, and deliver quality products and returns to stakeholders. Come join us!

Role Summary: The Underwriter IV will be responsible for ensuring that the incoming real estate loan applications are underwritten and documented. They should ensure that all documented applications in compliance with appropriate company, secondary market, and investor standards, as well as all applicable laws and industry standards.

RESPONSIBILITIES

• Review all mortgage applications and supporting documents to ensure all necessary information is included for approval.
• Complete the underwriting of DSCR, Non-Agency, Jumbo and Non-QM residential loans.
• Research applicant’s employment and financial history to determine the accuracy, eligibility, and amount of income available to repay the loan.
• Calculate the applicant’s debt-to-income ratio to determine if the loan meets the Qualified Mortgage standard.
• Review the applicant’s credit report to ensure that all debts are properly accounted for in the applicant’s ability to repay, and that the loan meets the credit standards of the loan product requested.
• Review the property appraisal to determine if the property type and condition meet the collateral requirements for the loan product requested.
• Review and verify all supporting documentation to the loan application.
• Document and communicate any and all reasons pertaining to the approval or denial of loan applications.
• Analyze the loan risk and request additional information, if necessary, to ensure all loans approved meet the stated underwriting guidelines of the loan product requested.
• Identify and record application deficiencies as required in rejecting a mortgage loan application.
• Promptly respond to questions on loan files from salespeople, brokers, and operations staff.
• Document in the LOS all relevant and required data to ensure there is a complete digital record of every loan that has been underwritten.
• Rework loans, when needed, to determine new terms, additional conditions needed, or other factors that would result in the funding of a sound, credit-eligible, compliant, and salable loan.
• Assist in the preparation of repurchase responses and/or rebuttal reviews.

REQUIREMENTS

• 5 years of previous experience underwriting residential loan products.
• 3 years of experience underwriting DSCR, Non-Agency, Jumbo, and 1 year of experience underwriting non-QM loans
• Able to work hours based on the Eastern Timezone.
• Bachelor’s Degree in Business Administration, Banking, Finance, or a related field, or 5 years of experience in mortgage underwriting.
• Extensive knowledge of the guidelines for DSCR, Non-Agency, Jumbo, and non-QM products
• Be knowledgeable of all loan product guidelines offered by the company, DU/LP guidelines, and risk assessment tools used to properly decision residential mortgage loans.
• Strong analytical and decision-making/problem-solving skills.
• Keen eye for accuracy, attention to detail, and the ability to handle a high-volume work load.
• Excellent interpersonal, organizational, prioritization, and time management skills.
• Experience working in a paperless environment.
• Demonstrated appraisal review and complex self-employed tax return analysis skills
• Ability to meet deadlines, deliver effective results, and produce high-quality products with minimal supervision
• Possess clear, concise, and effective written and verbal communication skills
• Ability to support and work across all business channels in underwriting (Wholesale, Correspondent), as needed
• Experience with repurchase responses and/or rebuttal review and response is preferred

If you do not meet all of the requirements listed in this job description, we still encourage you to apply! We carefully review every application and consider all projects, education, and certifications in addition to professional experience.

Emporium is an equal opportunity employer.  At Emporium we are committed to treating all Applicants and Associates fairly based on their abilities, achievements, and experience without regard to race, national origin, sex, age, disability, veteran status, sexual orientation, gender identity, or any other classification protected by law.