Underwriter

$90,000 - $100,000/Yr

Redwood Trust - Englewood, CO

Full-time - Mid Level

Englewood, CO

Funds, Trusts, and Other Financial Vehicles

About the position

The Underwriter position at Redwood Trust Inc. requires a high level of expertise in mortgage underwriting and credit knowledge. The successful candidate will demonstrate exceptional communication skills and a commitment to providing outstanding client service. This role involves significant interaction with both internal teams, such as trading, sales, legal and compliance, and structured finance, as well as external parties including Sellers and third-party service providers. The Underwriter will be responsible for analyzing conventional mortgage loans to ensure they meet Redwood's purchase guidelines and approved Seller variances. This includes managing loan conditions from credit, property, and compliance reviews, and evaluating underwriting waivers and eligibility exceptions. In addition to underwriting responsibilities, the Underwriter will provide support to Redwood Sellers by evaluating loan scenarios and offering feedback, often based on limited information. The role requires a strong understanding of Seller variances and product eligibility, as well as maintaining knowledge of mortgage compliance rules and industry standards. The Underwriter will also participate in evaluating current loan review processes, providing feedback and recommendations to enhance efficiency and risk management capabilities. Accessing third-party services for valuation, fraud, and compliance will be essential to inform loan decisions. Overall, this position demands a detail-oriented individual with excellent problem-solving skills, the ability to manage multiple tasks simultaneously, and a strong analytical mindset. The Underwriter will play a crucial role in ensuring that all loans are underwritten accurately and efficiently, contributing to the overall success of Redwood Trust Inc.

Responsibilities

• Analyze the underwriting of conventional mortgage loans for completeness and compliance with Redwood purchase guidelines and approved Seller variances.
• Manage loan conditions from credit, property, and compliance reviews with Sellers and external third-party service providers.
• Evaluate and provide recommendations for underwriting waivers and eligibility exceptions.
• Clearly communicate compensating factors to justify exceptions in written and verbal form.
• Support Redwood Sellers by evaluating and supplying feedback on loan scenarios, often based on limited information.
• Understand and effectively work with Seller variances to product eligibility and underwriting guidelines.
• Participate in and provide feedback on credit policy recommendations.
• Maintain strong knowledge of mortgage compliance rules, agency underwriting guidelines, and industry standards for appraisal requirements and regulatory compliance.
• Evaluate current loan review processes and provide feedback and recommendations to increase efficiency and risk management capabilities.
• Access third-party services to provide valuable input for loan decisions.

Requirements

• 7+ years of mortgage industry experience
• 3+ years agency underwriting experience
• 2+ years of jumbo underwriting or complex income analysis
• Expert underwriting knowledge and extensive experience with loan origination documentation
• Technologically savvy, with the ability to work in varied systems
• Proficiency with Excel, loan origination systems, automated underwriting engines, and electronic document management
• High attention to detail and effective problem-solving skills
• Excellent client service skills
• Excellent oral and written communication skills
• Excellent multi-tasking skills and ability to manage multiple tasks simultaneously
• Analytical thinking ability, diplomacy, and professionalism

Benefits

• Paid parental leave
• Employee stock purchase plan
• Disability insurance
• Health insurance
• Paid time off
• Parental leave
• 401(k) matching
• Gym membership
• Life insurance