NonQM Underwriter

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Position Location

Remote Type

Office Location (if not fully remote):

Job Description

As our Non-QM Underwriter, you will be responsible for the critical evaluation of residential loan files, ensuring compliance, quality, and timely movement through the pipeline. Your core responsibilities will include:

Underwriting & Analysis

• Execute the complete underwriting process, thoroughly reviewing loan applications, associated documentation, and credit reports to verify completeness and accuracy.

• Analyze complex borrower profiles, including detailed income documentation (tax returns, P&L statements, bank statements), credit reports, judgments, and bankruptcy documents.

• Evaluate appraisals and conduct reasonableness tests to ensure sound and defensible credit decisions.

• Qualify and classify loans according to strict Company guidelines, consistently exercising good judgment.

• Rework loans to new terms and clearly define additional conditions as necessary to achieve a viable credit decision.

• Maintain acceptable turnaround times (TATs) for all submitted applications and funding packages.

Compliance & Expertise

• Develop and maintain expert-level knowledge of multiple Non-QM loan product guidelines and internal risk assessment tools.

• Stay current on secondary market activity, practices, and industry trends that impact underwriting quality.

• Interact directly with Quality Control, Compliance, and Funding teams to resolve complex problems, evaluate risk, and address compliance concerns.

• Prepare and execute repurchase response and rebuttal reviews as needed.

Collaboration & Communication

• Partner effectively with Loan Originators, Branch Managers, and Processors to communicate decisions, request necessary documentation, and ensure accurate file completeness.

• Contribute to a positive, collaborative work environment, demonstrating accountability, continuous improvement, and flexibility.

Experience

• 4-6 years of relevant experience in the mortgage industry.

• 4+ years of dedicated residential loan underwriting experience, making second-level review and approval decisions.

• Proven experience with Non-QM residential loan underwriting.

• Demonstrated experience working effectively with Mortgage Brokers.

• Prior experience with repurchase response and rebuttal review, and preparation.

• Proven analytical, problem-solving, and critical-thinking skills.

• Strong experience managing relationships with both internal and external partners in a fast-paced environment.

• Prior mortgage processing experience and/or credit signing authority experience.

• Experience utilizing Fannie Mae Desktop Underwriter and Freddie Mac Loan Prospector.

Knowledge & Skills

• Solid knowledge of Non-QM programs, manual underwriting policies, and guidelines.

• Expert understanding of processing, underwriting, and closing requirements.

• Solid knowledge of Conventional, Government (FHA/VA), and Jumbo loan requirements.

• Working knowledge of desktop underwriting programs (DU/LP) and various fraud detection tools.

• Proficiency with MS Office products.

• Working knowledge of the Encompass LOS system.

Fairway Home Mortgage, founded in 1996, is a nationwide leader in the mortgage industry. Customer service is at the heart of everything we do. We deliver personalized loan solutions with some of the fastest turn times in the industry. Our mission is to act as trusted advisors, guiding clients through every step of the mortgage process to exceed expectations and ensure satisfaction.

Our culture promotes innovation, growth, and collaboration, offering exciting career paths and professional development. Whether you're starting out or advancing your career, Fairway is a place where your skills and ambitions can thrive.

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Current Employees: Head to the Fairway Careers Hub in Workday for internal job openings.

We post some job openings internally for our employees and others externally for the general public. If you cannot find the perfect role right now, do not hesitate to contact the Careers Team at [email protected]. We can answer any questions and keep you updated on future opportunities.

Important Notice to Job Seekers! We’ve been made aware of fraudulent messages falsely claiming to be from Fairway recruiters, including links to assessments. These are not legitimate and are not affiliated with Fairway Independent Mortgage Corporation. We’re working with our Information Security team to address this issue. Thank you for your vigilance and continued interest in joining Fairway! All official communication will come from verified Fairway email addresses or our official LinkedIn page. If you receive a suspicious message, please do not click any links and notify us.