Non-QM DSCR Underwriter

Job Description

Non-QM DSCR Underwriter

Position Summary

IMB is seeking an experienced Non-QM DSCR Underwriter to join our team. The Underwriter will be responsible for reviewing, analyzing, and underwriting Non-QM DSCR loan files in accordance with company, investor, and program guidelines. This position requires strong knowledge of investor cash-flow analysis, Non-QM DSCR lending guidelines, and the ability to make sound, timely credit decisions.

The ideal candidate is detail-oriented, highly analytical, and comfortable working in a fast-paced mortgage environment while maintaining a high level of accuracy and customer service.

Essential Duties and Responsibilities

• Underwrite Non-QM DSCR mortgage loan applications from initial submission through final decision.
• Analyze borrower and property qualifications in accordance with applicable Non-QM DSCR and investor guidelines.
• Review loan documentation for completeness, accuracy, and compliance with underwriting requirements.
• Evaluate property cash flow, rental income, leases, market rents, and applicable Non-QM DSCR calculations.
• Analyze credit history, liabilities, assets, reserves, and overall creditworthiness when applicable to the loan program.
• Review appraisal reports, property documentation, title, insurance, and other required loan documents.
• Identify and appropriately document conditions required for loan approval.
• Issue clear and concise underwriting decisions and communicate conditions to processors and other internal partners.
• Review and clear underwriting conditions in a timely manner.
• Ensure loans meet company, investor, and applicable regulatory requirements.
• Apply Non-QM DSCR guidelines consistently while exercising sound underwriting judgment.
• Identify potential risks, inconsistencies, fraud indicators, and documentation concerns.
• Work closely with Processing, Closing, Sales, and Operations teams to resolve underwriting issues.
• Maintain productivity and quality standards while meeting established turn-time expectations.
• Stay current on changes to Non-QM, DSCR, investor, and company underwriting guidelines.
• Assist with guideline questions and provide guidance to internal teams when appropriate.
• Maintain accurate and complete underwriting notes and documentation within the loan origination system.
• Perform additional duties and responsibilities as assigned.

Qualifications

• 3+ years of residential mortgage underwriting experience, preferably with significant Non-QM DSCR experience.
• Strong understanding of Non-QM DSCR loan products.
• Experience underwriting investment properties and investor-focused mortgage products.
• Strong knowledge of credit, income, asset, property, and appraisal analysis.
• Ability to interpret and apply investor and program guidelines.
• Excellent analytical and problem-solving skills.
• Strong attention to detail and organizational skills.
• Ability to make independent, well-reasoned underwriting decisions.
• Strong written and verbal communication skills.
• Ability to manage multiple loan files and meet established turn times.
• Experience with Encompass strongly preferred.
• Experience with Non-QM DSCR underwriting systems and investor portals is a plus.

Preferred Experience

• DSCR underwriting
• Non-QM underwriting
• Investment property lending
• Bank statement programs
• Asset depletion programs
• Foreign national lending
• P&L-only programs
• 1099/self-employed borrowers
• Experience with multiple Non-QM investors
• Encompass experience

Core Competencies

• Credit & Risk Analysis
• DSCR & Cash-Flow Analysis
• Non-QM Guideline Knowledge
• Attention to Detail
• Decision Making
• Problem Solving
• Time Management
• Communication
• Customer Service
• Teamwork

Work Environment

This position operates in a fast-paced mortgage lending environment and requires the ability to manage a high volume of loan files while maintaining underwriting quality, accuracy, and compliance.