Why Deephaven Mortgage?
Deephaven was founded in 2012 to provide mortgages to the millions of Americans who, for one reason or another, are unable to qualify for a traditional, government-backed loan. Deephaven champions those mortgage borrowers whose independence, entrepreneurial drive and determination are often the very reason why they can’t qualify for a traditional loan. Using ingenuity, supported by common-sense underwriting, we continuously and responsibly innovate new mortgage products and programs that put homeownership within reach of millions of borrowers and investors that need and deserve financing.
We offer our loans through a network of 1,000+ independent mortgage brokers. We also buy loans from more than 200+ correspondent partners. Deephaven is headquartered in Charlotte, North Carolina and is owned by Pretium, a highly specialized investment manager focused on real estate, mortgage finance and corporate debt.
Job Overview
Underwriters are responsible for balancing the need to facilitate loans for real estate investments with the necessity to protect the financial institution from undue risk. They play a crucial role in ensuring that loans are underwritten according to established standards and guidelines.
What You’ll Do
Manually underwrite mortgage loan transactions submitted by our Correspondent and Wholesale lending clients to company and investor credit guidelines
Perform quality control audits of our third-party vendor to ensure mortgage loans met all company and investor credit guidelines and requirements
Review loan scenarios and communicate purchase/funding eligibility requirements to our Correspondent and Wholesale lending clients
Collaborate with internal staff (e.g., Underwriters, Account Managers, Processors, Closers, Operations Management, etc.) of our correspondent lending clients, brokers and third party-vendors throughout the review process to clear purchase/funding eligibility conditions.
Work closely with processing staff to clear loan conditions throughout the process
Assist in handling loan-level credit and compliance questions & issues and in the preparation and dissemination of updated mortgage underwriting and compliance standards and procedures
Analyze loan applications and conduct financial due diligence to assess the creditworthiness of borrowers and the risk associated with the loan
Evaluate multi-family properties to determine their market value, condition, and potential for generating rental income
Review financial statements, rent rolls, and property operating data to ensure that the property’s income can cover loan payments and expenses
Collaborate with account executives, clients and stakeholders to gather necessary information and provide feedback on loan applications
Recommend loan structuring and terms that mitigate potential risks while meeting the needs of borrowers and lenders
Make informed decisions about whether to approve, deny, or modify loan applications based on comprehensive analysis and risk assessment
What We Need
5+ years of manual underwriting experience, not reliant on AUS
Non-QM experience preferred (bank statement loans/DSCR)
Encompass systems knowledge preferred
Adopt the Deephaven culture that contributes to an environment of teamwork and promotes a positive company image to external customers
Comply with Deephaven policies and procedures
Complete all assigned training by required dates
Ability to interpret, comprehend, and apply guidelines on a loan level basis
Ability to manage pipeline to ensure SLA’s are met for initial underwrites, condition, and final condition reviews
Ability to communicate effectively with others, both verbally and in writing
Organized, analytical, detail oriented, and self-motivated
Knowledge of current regulatory compliance requirements
Ability to maintain the highest level of confidentiality
Offer top notch customer service to internal and external customers
Ability to complete responsibilities effectively and efficiently with minimal direction
Manage daily tasks to ensure business needs are consistently met
You Are Someone Who
Strives for accuracy and pays close attention to detail
Enjoys building strong relationships with customers and team-members
Promotes company values while providing optimal customer service
Thrives in a fast-paced environment while embracing change and innovation
Our Perks
Competitive base salary and performance-based bonuses
401(k) plan with an employer match
Health insurance with a generous employer contribution that begins day one of employment
Employee incentive compensation program
Flexible work/life balance with Responsible Time Off
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