Job Description

Non-QM Mortgage Scenario Desk Underwriter

Hudson Advisors is seeking a Non-QM Mortgage Scenario Desk Underwriter to join its Non-QM mortgage platform and U.S. Residential Credit team in Dallas, TX or remote. This role represents a unique opportunity to join a leading investment platform in the growing Non-QM mortgage market.

The U.S. Residential Credit team primarily focuses on the underwriting and acquisition of Non-QM mortgage whole loans in connection with Lone Star's Residential Mortgage Platform, which is a correspondent aggregator that purchases newly originated Non-QM mortgage loans from approved mortgage originators. Since the inception of the Non-QM market in 2014, Lone Star Residential has been a leading participant. Lone Star Residential has purchased over $20 billion UPB of Non-Agency loans. As an industry pioneer, Lone Star Residential established the COLT securitization program and issued the first post-financial-crisis Non-QM securitization in 2015. Subsequently, Lone Star Residential has issued over 65 securitizations to date.

The successful candidate will focus on the Non-QM scenario desk efforts to engage with mortgage sellers on complex Non-QM exceptions scenarios and loan level pricing situations. The ideal candidate should have a solid background in manual Non-QM underwriting and would benefit from experience with Agency and Non-Agency post-closing mortgage operations. As a plus, candidates would have experience with Third-Party-Review processes related to Non-QM loan diligence and Rating Agency scope criteria for Non-QM securitizations. This role offers the successful candidate the unique opportunity to work across senior leaders across the Hudson Advisors team, as well as directly with senior leaders at exciting Non-QM mortgage originators.

Essential Functions

• Become an expert in the Lone Star Residential mortgage credit box and rate sheet pricing construct
• Engage and discuss exceptions across senior underwriters at Non-QM mortgage companies, external Third-Party-Review (TPR) diligence firms, and senior leadership at Hudson
• Review mortgage underwriting exceptions at initial lock stage, with a focus on ensuring that any approved loan meets applicable law (ATR) and rated securitization requirements (i.e. TPR Grading)
• Issue approval decisions across mortgage credit underwriting exceptions, pricing exceptions, unique collateral types, and other loan scenarios
• Ability to manually underwrite Non-QM loan products, including Bank Statement qualifying income analysis, DSCR, and Asset Depletion programs
• Display great judgement to holistically review unique Non-QM exceptions on all of the merits of a loan scenario to make a mortgage credit decision

Required Knowledge, Skills and Abilities

• 4+ years of Non-QM / Non-Agency mortgage underwriting experience
• In-depth experience with Non-QM mortgage underwriting, product guidelines, and production process
• Experience with manual underwriting and Bank Statement Income analysis, a must
• Experience with TPR Diligence Review, Non-QM post-closing conditions, a plus
• Experience with Non-QM exceptions, or underwriting escalations, a plus
• Experience with mortgage compliance and disclosure requirements, a plus
• Ability to work autonomously and as a member of a team.
• Ability to handle multiple projects at the same time.
• Ability to work in a dynamic, deadline-driven environment with low to moderate supervision.
• Proficient in Microsoft Word, Excel, and Outlook

Education

• Bachelor's Degree preferred
• High School Diploma or equivalent, required

Experience

• 4+ years of Non-Agency / Non-QM manual mortgage underwriting

Microsoft Office Skills

• Proficiency in Word, Excel, Outlook and PowerPoint preferred.

Compensation

• Base Salary: $80,000-110,000
• Posted base salary is based on Dallas, TX, and/or Remote.
• Compensation is subject to change based on experience and location of hire.
• Base salary only includes the base annual wage, base salary does not include other forms of compensation, such as bonuses.
• Base salary also does not include other forms of compensation or benefits offered in connection with this advertised job, such as: employer-provided insurance, paid or unpaid time off work, the availability of or contributions towards retirement or savings funds, such as 401(k) plans, severance pay, or overtime pay.

Work Environment

• This position operates in a professional office environment
• Candidates may also be considered on a remote environment on a case-by-case basis

Travel Requirements

• This position requires limited travel, if any

Desired Organizational Competencies

• Accountability - Demonstrates a commitment to and responsibility for accomplishing individual, team and business objectives.
• Drive - Consistently achieves challenging goals/objectives and demonstrates an ability to create value and maximize results.
• Planning- Identifies business needs, problems and risks proactively, and develops well founded plans that specify strategies, actions/solutions, risk mitigates and desired results.
• Critical Thinking / Judgment - Commits to an action after developing alternative solutions that are based on logical assumptions and factual information and that take into consideration resources, risks and organizational values.
• Adaptability - Exhibits the capacity to successfully change and evolve one's actions, opinions and behavior as a result of changing priorities or environment.
• Communication Skills - Proactively communicates in the appropriate medium with clarity and focus on the right level to ensure delivery has the appropriate impact.
• Influential Leadership - Leads with confidence and conviction, and is able to establish credibility, trust, and respect among team members.
• Teamwork - Fosters collaboration among team members and business partners and uses capabilities to achieve team goals.

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