Underwriting Manager - Non-QM

5 days ago

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Champions Funding LLC

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Champions Funding LLC is a mission-based mortgage lender certified as a Community Development Financial Institution (CDFI). The company specializes in Non-Qualified Mortgage (Non-QM) loans, providing innovative and inclusive financing solutions aimed at underserved and under-banked borrowers who often face challenges with traditional lenders. By employing modernized underwriting methods and offering a diverse range of loan programs, including ITIN loans for non-U. S. citizens, Champions Funding empowers mortgage brokers and loan originators to better serve their clients. With a focus on quick and efficient service, they aim to open the door to homeownership and real estate investment for diverse and historically excluded communities.

51 - 200 employees

💸 Finance

🏠 Real Estate

📋 Description

• The Underwriting Manager will lead, support, and manage the underwriting team to ensure compliance with internal and external guidelines, meet production goals, and maintain the highest quality in underwriting processes for Non-QM loans. • This role is critical in training and developing the team, monitoring performance, improving operational efficiencies, and mitigating risks. • Lead and manage the underwriting team, ensuring productivity, quality, and compliance with internal and external guidelines for Non-QM loans. • Monitor and manage staffing needs, proactively addressing concerns, and request additional resources when necessary. • Conduct interviews for new hires and collaborate with the recruitment team. • Provide ongoing coaching, conduct regular performance reviews, and ensure alignment with company goals. • Oversee the training of new underwriting staff, ensuring all training programs align with industry standards and company requirements. • Conduct ongoing training sessions and touch-base calls with team leads and pods to ensure continuous development. • Ensure all underwriters are proficient in the various loan programs (DSCR, bank statement, P&L loans, Foreign Nationals, ITIN programs). • Review and provide feedback on quality findings from post-closing reports. • Ensure compliance with industry standards and internal policies, conducting second-level reviews for new underwriters and team leads. • Approve credit authorization for employees trained on new products. • Identify and mitigate potential risks, such as fraud or misrepresentation, ensuring loan decisions meet creditworthiness and risk mitigation standards. • Analyze production reports daily, weekly, and monthly to ensure loan completion metrics and production goals are met. • Collaborate with the Pipeline Manager to ensure loans are processed within SLA timelines and report on loan statuses, turn times, and upcoming workload projections. • Address any shortfalls with underwriters, team leads, and EVP through detailed feedback. • Oversee and review complex underwriting scenarios, ensuring timely and accurate decisions on Non-QM loans, including DSCR loans, bank statement programs, P&L loans, Foreign Nationals, and ITIN loans. • Serve as a subject matter expert, providing guidance on structuring eligible loans and interpreting product guidelines. • Collaborate with operations management to enhance underwriting processes and draft process updates for approval by the EVP. • Complete assigned special projects within specified deadlines. • Set up monthly one-on-one meetings with team pods and provide follow-up summaries to team leads and EVP. • Maintain consistent communication with team leads to ensure alignment and meet training needs. • Work closely with the TPR team and post-closing to resolve issues effectively.

🎯 Requirements

• 5+ years of experience underwriting Non-QM loans, including DSCR, bank statement, P&L loans, Foreign Nationals, and ITIN programs. • Proven experience in a leadership role, including managing underwriting teams and improving operational efficiencies. • Strong expertise in manual underwriting, DTI calculations, and proficiency with loan origination systems (Meridian Link, Lending QB, etc.). • Excellent analytical, communication, and organizational skills, with the ability to evaluate complex financial data and make sound decisions. • Ability to meet deadlines and manage competing priorities in a fast-paced environment. • Proven experience in training, performance monitoring, and managing compliance reviews.