Underwriter Trainee- Recent college graduates wanted

Job Description

Job Description

thelender Underwriter University (UW University) is a structured, classroom-based training and career development program designed to develop the next generation of mortgage underwriting professionals. This program is open to recent college graduates and high-aptitude candidates without prior mortgage experience, providing them with the foundational knowledge, technical skills, and practical training needed to succeed as a residential mortgage underwriter.

UW University is purpose-built around theLender's NONI (DSCR/Debt Service Coverage Ratio) lending program, giving trainees a focused, specialized entry point into investment property mortgage underwriting. The NONI program qualifies borrowers based on property cash flow rather than personal income — making it an ideal training ground for learning credit, collateral, and documentation analysis without the complexity of personal income calculation. Graduates of the program follow a defined career path with performance-based progression through three distinct levels: UW University Trainee, Underwriter I, and Underwriter II.

Career Progression Summary

Stage

Title

Base Salary

Authority

Eligibility

Duration

Stage 1

UW University Trainee

$65,000

N/A (Training)

OT Eligible

6–8 Weeks

Stage 2

Underwriter I

$75,000

$500,000

OT + Per-File Bonus

Min. 6 Months

Stage 3

Underwriter II

$85,000+

Expanded

OT + Per-File Bonus

Ongoing

All positions are eligible for overtime (OT). Underwriter I and Underwriter II positions are additionally eligible for a per-file production bonus. Promotion from each stage is contingent on demonstrated performance, skill development milestones, and management approval.

STAGE 1: UW University Trainee

Base Salary: $65,000 annually | OT Eligible

Role Summary

The UW University Trainee is a full-time, paid position within a 6–8 week intensive classroom-based training program. Trainees will receive structured instruction in mortgage fundamentals, credit analysis, regulatory requirements, and theLender's NONI underwriting guidelines. This role requires no prior mortgage experience; candidates are selected based on academic achievement, analytical aptitude, and demonstrated eagerness to learn.

Program Structure

• Duration: 6 to 8 weeks of classroom-based instruction.

• Format: Full-time, structured program led by experienced underwriting professionals.

• Focus: Deep-dive training on the NONI (Debt Service Coverage Ratio) investment property mortgage program.

• Trainees are not responsible for independent underwriting decisions during this phase.

• Performance is evaluated throughout training; trainees must meet minimum competency benchmarks to graduate.

Training Curriculum Overview

• Introduction to residential mortgage lending — loan lifecycle, key stakeholders, and industry terminology.

• Regulatory and compliance foundations — BSA/AML, RESPA, TILA, CFPB loan originator requirements.

• Credit analysis fundamentals — reading credit reports, scoring models, and borrower credit profile assessment in the context of NONI investment lending.

• Asset review and reserve documentation — verification of sufficient reserves, down payment sourcing, and entity documentation for LLC-held investment properties.

• Appraisal review basics — single-family residences, condominiums, multi-family, and PUDs.

• DSCR program guidelines — deep training on theLender’s NONI underwriting standards, including property cash flow analysis, DSCR ratio calculation, and investment property eligibility requirements.

• Fraud detection and red flag identification — LexisNexis, DataVerify Drive, and FraudGuard.

• Encompass LOS navigation — data entry, pipeline management, and file documentation standards.

• Loan decisioning — understanding approvals, suspense, conditions, counter-offers, and declines.

• Customer service standards — internal and external communication expectations and SLA requirements.

Candidate Qualifications

• Bachelor's degree preferred; candidates with equivalent analytical experience will be considered.

• No prior mortgage or underwriting experience required.

• Strong analytical and critical thinking skills with exceptional attention to detail.

• Excellent written and verbal communication skills.

• Ability to absorb and apply new information quickly in a fast-paced, structured learning environment.

• Proficiency in Microsoft Office Suite (Outlook, Word, Excel).

• Self-motivated, coachable, and committed to professional growth.

STAGE 2: Underwriter I

Base Salary: $75,000 annually | OT Eligible | Per-File Bonus Eligible

Underwriting Authority: $500,000 | Prerequisite: UW University Graduation

Role Summary

Upon successful graduation from UW University, trainees are promoted to Underwriter I. In this role, the Underwriter I independently underwrites NONI investment property mortgage loans under a $500,000 lending authority. The Underwriter I continues to deepen DSCR expertise while expanding product knowledge into Non-QM and Home Equity (HEM) product lines in preparation for advancement to Underwriter II.

Essential Job Functions

• Review, analyze, and issue decisions on NONI investment property mortgage loan files originated through theLender’s wholesale channel.

• Assess borrower creditworthiness through sound analytics supported by complete file documentation.

• Review loan files in accordance with investor, regulatory, and thelender bank policies and procedures.

• Manage assigned loans from RESPA through shipping within established service level agreements.

• Issue loan decisions including approvals, suspensions, counter-offers, and declines.

• Condition loan files for documentation; review received documentation and clear conditions when appropriate.

• Manage pipeline efficiently to meet turn-time and quality benchmarks.

• Provide responsive, professional service to internal and external customers.

• Prepare pipeline and performance reports for management as requested.

• Respond to e-mails and calls from internal and external customers within established SLAs.

• Review QC findings and trends; apply feedback to improve decision quality.

Essential Job Skills — DSCR Specialization

• Proficient application of theLender’s NONI underwriting guidelines and investment property eligibility standards.

• Thorough review of reserve documentation, down payment sourcing, and entity/LLC documentation.

• Analysis of credit reports and borrower credit profiles in the context of NONI loan eligibility.

• Appraisal review for SFR, condominiums, multi-family, and PUDs.

• Fraud detection and red flag identification using LexisNexis, DataVerify Drive, and FraudGuard.

• Encompass LOS proficiency — pipeline management, data entry, and documentation standards.

• Adherence to all RESPA, TILA, CFPB, and BSA/AML regulatory requirements.

Skill Building Expectations (toward UW II)

• Actively participate in supplemental training on Non-QHEM and Home Equity (HEM) product lines.

• Complete assigned coursework and achieve competency benchmarks within the 6-month development window.

• Income analysis methodologies

• Demonstrate consistent accuracy, quality, and pipeline management metrics at or above established thresholds.

• Accept and apply coaching from underwriting management and the Underwriting Support Manager.

Compensation & Benefits

• Base Salary: $75,000 annually.

• Overtime: Eligible for overtime pay in accordance with company policy.

• Per-File Bonus: Eligible for production-based per-file bonus (details governed by current bonus plan).

STAGE 3: Underwriter II

Base Salary: $85,000+ annually | OT Eligible | Per-File Bonus Eligible

Expanded Underwriting Authority | Prerequisite: Min. 6 Months Successful UW I Performance + Management Approval

Role Summary

Promotion to Underwriter II is available after a minimum of six months of successful performance as an Underwriter I, combined with demonstrated proficiency in Non-QHEM and Home Equity (HEM) product lines and overall skill development milestones. The Underwriter II carries an expanded lending authority and is expected to handle a broader, more complex loan product mix with greater independence.

Promotion Criteria

• Minimum 6 months of documented successful NONI underwriting performance as Underwriter I.

• Demonstrated competency in Non-QHEM and Home Equity (HEM) underwriting.

• Consistent performance at or above quality and productivity metrics established for Underwriter I.

• Positive performance review and management approval.

• No significant active corrective actions or unresolved quality concerns.

Essential Job Functions

• Independently underwrite investment and residential mortgage loans across DSCR, Non-QM, and Home Equity product lines.

• Apply expanded lending authority with sound risk judgment and full documentation support.

• Review loan files in full compliance with investor, regulatory, and theLender guidelines.

• Manage loans from RESPA through shipping, maintaining pipeline discipline and service levels.

• Issue decisions including approvals, suspensions, counter-offers, and declines across multiple product types.

• Condition files, review received documentation, and clear conditions in a timely and accurate manner.

• Stay current on changes in investor, regulatory, and bank guidelines; integrate changes into daily practice.

• Mentor and support UW University Trainees and Underwriter I colleagues as appropriate.

• Prepare reports for management; respond to QC findings and audits.

Advanced Skill Requirements

• Expert proficiency in NONI and Non-QHEM underwriting guidelines and risk analysis.

• Demonstrated ability to underwrite Home Equity and Second Mortgage products.

• Solid understanding of thelender investor guidelines and DSCR program overlays; working knowledge of applicable Non-QM and Home Equity guidelines.

• Proficient in LexisNexis, DataVerify, FraudGuard, Mavent, CoreLogic, and Encompass.

• Ability to identify complex fraud patterns and document risk mitigation strategies.

Compensation & Benefits

• Base Salary: $85,000 or higher, based on experience and performance at time of promotion.

• Overtime: Eligible for overtime pay in accordance with company policy.

• Per-File Bonus: Eligible for production-based per-file bonus (details governed by current bonus plan).

Core Competencies (All Levels)

• Attention to detail and analytical rigor.

• Sound credit judgment and risk awareness.

• Strong written and verbal communication skills.

• Customer-first mindset — superior service to internal and external clients.

• Ability to manage competing priorities within established service level agreements.

• Coachable, growth-oriented, and committed to continuous improvement.

• Compliance-first mindset with thorough knowledge of applicable regulations.

Compliance & Regulatory Requirements

• Must meet Consumer Financial Protection Bureau (CFPB) loan originator qualification requirements.

• Comply with all BSA/AML regulations and complete mandatory training on schedule.

• Adhere to all thelender, Inc. data security, privacy, and confidentiality requirements.

• Maintain current awareness of investor, agency, and regulatory guideline updates.

Our Company
theLender was created to make a difference. As a group of proven industry leaders who founded one of the largest and fastest growing Wholesale mortgage companies in the United States, we aim to change the stagnant landscape of Wholesale mortgage – one partnership, one loan, and one day at a time.

Company Description

Our Company\r\ntheLender was created to make a difference. As a group of proven industry leaders who founded one of the largest and fastest growing Wholesale mortgage companies in the United States, we aim to change the stagnant landscape of Wholesale mortgage – one partnership, one loan, and one day at a time.