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Senior Consumer Loan Underwriter

About Home Lending Pal

At Home Lending Pal, we’re on a mission to transform the dynamics of consumer lending through machine learning, conversational AI, and blockchain to increase efficiency, cost savings and improve data workflows for both consumers and institutions. 

Driving industry-wide process change is a huge challenge.  We understand that accomplishing this mission requires a creative and team-oriented environment where everyone has the absolute support to do their best work. The Home Lending Pal team is composed of incredibly driven, innovative, collaborative, and curious people who love architecting and building from scratch. Everyone at the company is encouraged to be an individual contributor but also a team collaborator. 

We value team members who bring an entrepreneurial mindset to every task and embrace our innovation culture. Our founders are determined to share the business’s success with the employees that help to build it.

This is an opportunity to work with a team of proven leaders who are willing to share in the company’s early success. 

About the Role

This role is with our Data Science (DatSci) Group. Underwriters require the exercise of discretion and judgment concerning the approval and denial of loan observations and provide insight into the successful provisioning of consumer credit loans to our DatSci group and platform users. Responsibilities include, but are not limited to:

Position Summary:

Home Lending Pal is seeking an Independent and highly knowledgeable senior Consumer Loan Underwriter. The ideal candidate has over 5 years of focused residential mortgage underwriting experience. They must have a fundamental understanding of AUS systems and approved an FHA, VA, and USDA loan within the last 5 years and able to ensure loan observations adhere to:

  • Regulations and legal standards governing mortgage lending standards and best practices
  • Loan programs and guidelines, including superior knowledge of conventional, conforming, non-conforming, and government programs standards and best practices
  • Automated underwriting systems (AUS) such as Desktop Underwriter and Loan Prospector standards and best practices
  • Income documentation and analysis standards and best practices  
  • Make independent decisions regarding acceptability of loan files and approval/denial of loan applications
  • May develop and recommend modifications to underwriting and production procedures if the need exists or circumstances change

A strong understanding of statistical principles and statistical modeling is highly desired.  This role is best suited for an underwriter who understands the mortgage industry’s direction concerning technology and data and is not anchored to the idea of “this is how it’s done today”!  

Responsibilities:

  • Develop loan file governance and underwriting policy for Qualified Mortgage & Non-Qualified Mortgage mortgage programs
  • Compare automated underwriting to specific loan-file criteria to determine whether waiver or deviation from suggested guidelines may be appropriate. Must be able to articulate how & why they could arrive at a final decision or recommendation.
  • May provide training and direction to DatSci and junior underwriter to ensure a clear understanding of compliance and lending guidelines, particularly with those intending to serve in an Underwriter role eventually.
  • Ad Hoc consumer lending policy research and analysis will be required, along with subject matter presentations. 

Requirements:

  • 5 or more years of successful professional experience within the mortgage lending industry is required; 8 years preferred.
  • 1-3 years of successful Conventional underwriting required.
  • Valid and current FHA Direct Endorsement (DE) and VA certification preferred.
  • Proficiency in DU(Desktop Underwriter) and LP (Loan Prospector) Programs required.
  • Associates degree or bachelors in science (Math, Physics or Statistics) required
  • Masters in Statistical Science preferred

Benefits To You

  • Competitive salary based on experience and skills
  • Firm-wide performance based bonus
  • Competitive stock options package as an early member of the team
  • A flexible paid time off and vacation policy
  • And much more to come!

Job Type: Full-time

Pay: $75,000.00 – $100,000.00 per year

Depending on your residential location certain laws might regulate the way Figure manages applicant data. California Residents, please review our California Employee and Prospective Employee Privacy Notice for further information. By submitting your application, you are agreeing  and acknowledging that you have read and understand the above notice.

Home Lending Pal will NOT sponsor work visas for this position. In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification form upon hire.

Job Category: DataSci
Job Type: Contract to Hire Full Time
Job Location: Durham Orlando Remote

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