Mortgage Underwriter

Job Description

Job Description

About Trovy

Trovy is building the financial platform for America’s 86 million homeowners for managing their homes and accessing low rate credit. We believe homeowners’ biggest asset should unlock their best financial options: bypass the myriad of expensive, rigid credit products and replace them with one simple, powerful solution built around their home equity. Backed by Left Lane, Kleiner Perkins, DCM, and Camber Creek, Trovy is led by a team of proven fintech innovators on a mission to make homeownership and personal finances more manageable.

As an Underwriter, you’ll be a core member of Trovy’s credit team, making sound, well documented credit decisions on HELOC applications. You’ll take on our most complex files, especially self employed borrowers and business owners whose income runs through S corporations, partnerships, LLCs, and sole proprietorships. We’re looking for an experienced underwriter who can read a tax return like a story, knows where the risk hides, and can help us sharpen the credit policy and procedures behind every decision. This is not a sales role. Your success is measured by decision quality, accuracy, and consistency.

• Underwrite HELOC applications from start to final decision, evaluating income, credit, assets, collateral, and title against Trovy’s credit policy

• Perform complex income analysis for self employed borrowers, including Schedule C, Schedule E, K-1s, and business returns (Forms 1120S, 1065, and 1120), using business cash flow analysis consistent with Trovy’s credit policy

• Assess business stability and the borrower’s access to business income, including ownership percentage, distributions, liquidity, and year over year trends

• Calculate and validate employment, rental, investment, and other income types, and verify income through tax transcripts, paystubs, W-2s, and third party verification tools

• Review credit reports, calculate DTI, and evaluate credit history, liabilities, and any layered risk factors

• Evaluate collateral using AVMs and other valuation tools, and review lien position, title, and property ownership, including trust held property

• Identify red flags and potential fraud, and condition or escalate files appropriately

• Clearly document the rationale for every decision, including exceptions and conditions, so files are audit ready

• Communicate conditions and document requests clearly to the operations team and, when needed, to borrowers

• Support adverse action processes and ensure decisions comply with ECOA and Reg B, FCRA, and fair lending requirements

• Help build Trovy’s underwriting playbook: draft procedures, income worksheets, and job aids, and flag policy gaps or inconsistencies as you find them

• Partner with credit policy, operations, and product teams to improve decisioning workflows, automation, and the applicant experience

• Stay current on Trovy’s credit policy, state specific requirements, and applicable lending regulations

• At least 5 years of mortgage or home equity underwriting experience, with substantial experience underwriting self employed borrowers

• Expert command of complex income analysis, including personal and business tax returns, K-1s, business cash flow analysis, and comparative year over year income review

• Experience applying written credit policy and income guidelines consistently; non QM or HELOC experience is a strong plus

• Solid understanding of credit, collateral, and title review, including CLTV, lien position, and valuation methods such as AVMs

• Working knowledge of Reg Z (TILA), ECOA and Reg B, FCRA, and fair lending principles

• Experience with a loan origination system and third party verification tools

• Sound, independent judgment; you can make a decision, defend it in writing, and know when to escalate

• Highly organized with strong attention to detail; you keep your work accurate and well documented even when volume picks up

• Clear written and verbal communication; you can explain conditions and decisions in plain language

• A process oriented approach with a bias toward improvement; you’ve seen how strong credit shops operate and can help us build the right processes

• Comfort working in a startup environment where processes are still being built

• Competitive Pay : $35.00 - $53.00 an hour plus monthly target bonus

• Ownership : Equity participation so you share in Trovy’s growth

• Success : No sales commissions; your success is measured by customer outcomes, not volume

• PTO : Paid time off, paid holidays, and floating holidays

• Location : On-site; Salt Lake City, Utah

• Benefits : 100% company sponsored health, dental, vision, and life insurance. We also offer commuter benefits, HSA, 401k and more!

• Other perks : Free lunch in the office every Friday!