Jumbo Mortgage Underwriter
Posted 2025-10-26
Remote, USA
Full Time
Immediate Start
Who we are Tomo is a digital mortgage company on a mission to eliminate the greed and complexity in lending, helping homebuyers save thousands of dollars. Our AI-driven customer experience makes the lending process faster, less frustrating, and more affordable. By passing these savings directly to homebuyers, we eliminate excessive fees and inflated rates that cost Americans billions each year. Backed by top-tier venture investors, including Ribbit, DST, NFX and Progressive, Tomo is poised to become one of the most valuable fintech startups of our generation. Jumbo Mortgage Loan UnderwriterLocation: Remote, USReports To: Head of UnderwritingType: Full-TimeAs a Jumbo Mortgage Loan Underwriter, you will have the opportunity to join Tomo’s growing mortgage operations team! This is a great opportunity to work with a well-capitalized, dynamic lender that values precision, accountability, and excellence. You will review and analyze large loan applications, assess borrowers' creditworthiness, and ensure adherence to internal and external regulations. Your day will typically involve working with loan officers and processors to verify documentation, calculate income and assets, evaluate risk, and make final loan approval or denial decisions. Collaboration is key, as you'll frequently communicate with colleagues to resolve issues and streamline the underwriting process. Attention to detail and thorough documentation are essential, given the high scrutiny of jumbo loans. Beyond producing high quality loans, our goal is to build a memorable experience that will ensure our customers enjoy the home buying process. With offices in New York City, Detroit, and Seattle, we are quickly expanding in order to deliver a once-in-a-lifetime experience through a combination of technology and excellent service. What You’ll DoReview and underwrite high net worth borrower loan applications, including non-conforming scenarios with complex credit, income, and asset profilesAnalyze credit reports, income documentation, asset statements, and appraisals to ensure compliance with internal guidelines and investor overlaysAccurately review and calculate all income types, including self-employed income and complex tax returnsIssue timely and accurate credit decisions including approvals, suspensions, and denialsPerform cash flow analysis on personal and business bank statements to verify income and liquidityEvaluate loan applications to determine eligibility, acceptability, and compliance with investor, state, and federal guidelinesUnderwrite to multiple Non-Agency Jumbo and private investor guidelines in a dynamic and changing marketIdentify key factors affecting borrower and property eligibility for complex or atypical financial profiles and loan structuresCollaborate effectively with sales, processing, and closing teams to ensure smooth loan processingReview resubmissions and conditions promptly and make final underwriting decisions as neededMaintain compliance with FNMA, FHLMC, Non-QM, and internal overlaysBalance strong risk management with a customer-first mindset and quality loan decisionsUtilize an analytical and methodical approach to underwriting Jumbo loans using the company’s unique upfront methodPerform credit and collateral analysis on both conventional and Non-Agency Jumbo filesReview initial submissions from production and origination staff and render accurate credit decisionsMaintain awareness of regulatory changes and investor guideline updatesOther duties as assignedWhat Makes You a Great Fit:7+ years of current experience underwriting Non-Conforming loansKnowledge of Desktop Underwriter (DU) and Loan Prospector/Loan Product Advisor (LP/LPA)Strong knowledge of agency guidelines (Fannie Mae/Freddie Mac) and jumbo/non-conforming investor overlaysProficiency in analyzing complex income, including self-employed borrowers, tax returns, and K-1sSolid understanding of the mortgage lending processAbility to accurately calculate DTI, LTV, and other key loan metricsAbility to manage multiple files and priorities simultaneouslyStrong written and verbal communication skillsProven ability to collaborate effectively in team environmentsSelf-motivation with a drive to build and improve new processesLeadership experience is a plusThe expected annual compensation for this position will be between $85,000—$100,000 USDOriginally posted on Himalayas Apply To this Job