Non-QM Underwriter

Overview

Spring EQ is a national home equity lender providing flexible and tailored financing solutions directly to consumers with a national network of experienced brokers and partners. Since its founding in 2016, Spring EQ is among the fastest growing and highest-rated home equity financing partners in the United States. Spring EQ offers a broad range of home equity products and delivers a simple and streamlined process that results in faster funding, trustworthy loans, and less frustration for consumers today.

To learn more about Spring EQ, visit

At Spring EQ, it is our mission to empower homeowners and buyers to achieve and maximize the value of home ownership in a simple, fast, and ethical manner. Our values are to

• Be kind and treat all people – teammates, customers, and vendors – with respect and consideration
• Be adaptable and embrace change
• Be accountable and take responsibility and deliver the effort to fully complete the task
• Be better and strive for continuous improvement in ourselves, our team, and the company for our customers
• Be part of the solution and solve problems, find the answers, and collaborate
• Work hard, have fun, and get things done

The Mortgage Underwriter - TPO is responsible for underwriting residential mortgage loan applications that are submitted through third-party origination (TPO) channels, including mortgage brokers and correspondent lenders. This role involves analyzing loan applications, reviewing borrower financials, credit reports, property appraisals, and ensuring compliance with investor guidelines and regulatory requirements. The Underwriter will play a critical role in evaluating and mitigating risks, ensuring that loans are processed accurately and efficiently while maintaining high standards of quality and compliance.

• Review and underwrite mortgage loan applications submitted through TPO channels to ensure they comply with investor, agency, and regulatory guidelines.
• Analyze borrower financial documents, including credit reports, tax returns, bank statements, and employment verification, to assess creditworthiness and loan eligibility.
• Evaluate property appraisals, title reports, and other supporting documents to ensure the accuracy and completeness of loan applications.
• Approve, deny, or suspend loan applications based on established underwriting criteria, balancing risk management with company policies.
• Underwrite a variety of loan products, including conventional, FHA, VA, USDA, and non-conforming loans.
• Ensure that all loans meet investor guidelines, federal regulations, and internal policies before making final underwriting decisions.
• Serve as the primary point of contact for TPO partners, including mortgage brokers and correspondent lenders, to answer questions about underwriting guidelines, loan status, and documentation requirements.
• Maintain strong relationships with TPO partners by providing timely responses to inquiries, offering guidance on loan files, and troubleshooting any underwriting issues that arise.
• Communicate clearly with TPO partners to resolve issues related to documentation, loan conditions, and any underwriting exceptions.
• Collaborate with TPO partners to ensure that all necessary documentation is submitted and that underwriting conditions are met.
• Ensure all loans comply with relevant regulatory requirements, such as RESPA, TILA, ECOA, HMDA, and other applicable federal and state laws.
• Review loan files for potential discrepancies, fraud risks, and non-compliant documentation. Escalate any issues as necessary to senior management.
• Stay current with changes in regulations, investor guidelines, and market conditions to ensure compliance and minimize risk.
• Perform audits of loan files and ensure that underwriting decisions align with investor requirements and company policies.
• Make informed decisions on loan approvals, denials, or suspensions, ensuring that all underwriting decisions are based on a thorough analysis of borrower documentation and risk factors.
• Document all underwriting decisions, including rationale for any exceptions or deviations from standard guidelines.
• Issue clear, concise underwriting decisions and communicate…