Spring EQ is a national home equity lender providing flexible and tailored financing solutions directly to consumers with a national network of experienced brokers and partners. Since its founding in 2016, Spring EQ is among the fastest growing and highest-rated home equity financing partners in the United States. Spring EQ offers a broad range of home equity products and delivers a simple and streamlined process that results in faster funding, trustworthy loans, and less frustration for consumers today. To learn more about Spring EQ, visit www.springeq.com.

At Spring EQ, it is our mission to empower homeowners and buyers to achieve and maximize the value of homeownership in a simple, fast, and ethical manner.  Our values are to

• Be kind and treat all people – teammates, customers, and vendors – with respect and consideration  
• Be adaptable and embrace change
• Be accountable and take responsibility and deliver the effort to fully complete the task
• Be better and strive for continuous improvement in ourselves, our team, and the company for our customers
• Be part of the solution and solve problems, find the answers, and collaborate
• Work hard, have fun, and get things done

The Mortgage Underwriter - TPO is responsible for underwriting residential mortgage loan applications that are submitted through third-party origination (TPO) channels, including mortgage brokers and correspondent lenders. This role involves analyzing loan applications, reviewing borrower financials, credit reports, property appraisals, and ensuring compliance with investor guidelines and regulatory requirements. The Underwriter will play a critical role in evaluating and mitigating risks, ensuring that loans are processed accurately and efficiently while maintaining high standards of quality and compliance.

• Review and underwrite mortgage loan applications submitted through TPO channels to ensure they comply with investor, agency, and regulatory guidelines.
  • Analyze borrower financial documents, including credit reports, tax returns, bank statements, and employment verification, to assess creditworthiness and loan eligibility.
  • Evaluate property appraisals, title reports, and other supporting documents to ensure the accuracy and completeness of loan applications.
  • Approve, deny, or suspend loan applications based on established underwriting criteria, balancing risk management with company policies.
  • Underwrite a variety of loan products, including conventional, FHA, VA, USDA, and non-conforming loans.
  • Ensure that all loans meet investor guidelines, federal regulations, and internal policies before making final underwriting decisions.
  • Serve as the primary point of contact for TPO partners, including mortgage brokers and correspondent lenders, to answer questions about underwriting guidelines, loan status, and documentation requirements.
  • Maintain strong relationships with TPO partners by providing timely responses to inquiries, offering guidance on loan files, and troubleshooting any underwriting issues that arise.
  • Communicate clearly with TPO partners to resolve issues related to documentation, loan conditions, and any underwriting exceptions.
  • Collaborate with TPO partners to ensure that all necessary documentation is submitted and that underwriting conditions are met.
  • Ensure all loans comply with relevant regulatory requirements, such as RESPA, TILA, ECOA, HMDA, and other applicable federal and state laws.
  • Review loan files for potential discrepancies, fraud risks, and non-compliant documentation. Escalate any issues as necessary to senior management.
  • Stay current with changes in regulations, investor guidelines, and market conditions to ensure compliance and minimize risk.
  • Perform audits of loan files and ensure that underwriting decisions align with investor requirements and company policies.
  • Make informed decisions on loan approvals, denials, or suspensions, ensuring that all underwriting decisions are based on a thorough analysis of borrower documentation and risk factors.
  • Document all underwriting decisions, including rationale for any exceptions or deviations from standard guidelines.
  • Issue clear, concise underwriting decisions and communicate them to TPO partners, ensuring that conditions for approval are well-defined.
  • Ensure that all loan files contain the appropriate documentation and meet the standards necessary for final approval.
  • Review loan files for completeness, accuracy, and compliance with investor and regulatory guidelines.
  • Conduct regular quality control reviews of underwritten loans to ensure high standards of accuracy and compliance.
  • Identify potential underwriting issues or risks, offering solutions to mitigate those risks before loans are finalized.
  • Provide recommendations for process improvements or procedural changes to enhance underwriting accuracy and efficiency.
  • Provide guidance and mentorship to junior underwriters and assist them with complex loan files and difficult underwriting scenarios.
  • Participate in ongoing training sessions to stay updated on changes to underwriting guidelines, investor requirements, and industry regulations.
  • Help develop training materials or programs to improve underwriting skills within the team and promote continuous learning.
  • Work collaboratively with loan processors, closers, and other departments to ensure that loan files are processed efficiently and meet necessary deadlines.
  • Track and report key underwriting performance metrics such as loan volume, approval/denial rates, and loan turnaround times to management.
  • Participate in team meetings, performance reviews, and other internal activities to ensure consistent adherence to underwriting standards and company objectives.
  • Monitor personal and team performance, ensuring compliance with loan volume, underwriting quality, and timeline requirements.
  • Identify areas of improvement within underwriting processes and recommend adjustments to streamline workflows, reduce errors, and improve efficiency.
  • Stay proactive in enhancing knowledge of industry trends, guidelines, and technology that can improve the underwriting process.

• Must have NON QM experience
  • Must have experience with NON QM Bank Statement and/or Non QM DSCR Underwriting
  • Ability to work Mountain time/ West coast hours preferred.
  • Certifications: FHA, VA, or other mortgage-related certifications preferred.
  • Knowledge: Extensive knowledge of mortgage loan products (conventional, FHA, VA, USDA, non-conforming) and underwriting guidelines.
  • Skills: Proficiency in underwriting software, loan origination systems (LOS), and automated underwriting systems (AUS).
  • Regulatory Knowledge: In-depth understanding of industry regulations and investor guidelines (e.g., FNMA, FHLMC, HUD, RESPA, TILA, ECOA, HMDA).
  • Detail-Oriented: Ability to focus on the small details while maintaining an understanding of the broader underwriting process and risk mitigation.

Education and Experience:
• Bachelor’s degree in Finance, Business, or a related field preferred, or equivalent work experience in mortgage underwriting.
• 3+ years of experience in mortgage underwriting, with at least 1-2 years of experience working with Third Party Origination (TPO) loans.

Physical & Mental Abilities Requirements:
Physical Abilities:
• Sit/Stand for Extended Periods: The position primarily involves sitting at a desk for long periods while reviewing documents, analyzing loan applications, and communicating with team members. There may be occasional walking to attend meetings or access physical files.
• Manual Dexterity: Ability to use a computer, keyboard, mouse, and other office equipment for data entry, document review, and communication.
• Vision and Hearing: Must be able to review and interpret documents, such as financial statements, credit reports, and loan files. Must also be able to communicate effectively by phone or email with borrowers, loan officers, and other stakeholders.
• Occasional Lifting: May occasionally need to lift or carry up to 10-15 pounds of files or office materials for filing, organizing, or transporting purposes.

Mental Abilities:
• Analytical and Critical Thinking: The ability to assess and analyze complex financial documents, credit reports, and other data to determine loan eligibility and risk. Strong decision-making skills are essential for making approval or denial decisions.
• Attention to Detail: Meticulous attention to detail is crucial when reviewing loan files, ensuring all documentation is accurate and meets regulatory and company requirements.
• Problem-Solving Skills: Ability to identify issues or discrepancies in loan applications and find solutions or resolutions, such as requesting additional documentation or making adjustments to terms.
• Time Management and Efficiency: Ability to manage multiple loan files and prioritize tasks effectively to meet deadlines while maintaining a high level of accuracy.
• Decision-Making Abilities: The role requires the ability to make informed, objective decisions on complex loan applications, assessing the potential risks and benefits to the company.
• Communication Skills: Strong verbal and written communication skills are necessary for interacting with borrowers, loan officers, and other team members. The Senior Underwriter must be able to explain complex decisions or loan issues clearly and effectively.
• Regulatory Knowledge: Strong understanding of regulatory requirements in the mortgage industry, including federal and state regulations (e.g., TRID, RESPA, TILA, etc.), and the ability to apply these guidelines consistently.
• Customer Service Orientation: While this is an analytical role, the Senior Underwriter must also be able to provide excellent customer service by addressing borrower questions and resolving issues efficiently and professionally.
• Adaptability and Stress Management: The ability to handle pressure, make decisions quickly, and adapt to changing guidelines, company policies, or regulations in a fast-paced work environment.
• Mentorship and Leadership: Ability to mentor and provide guidance to junior underwriters, ensuring they adhere to best practices and maintain consistency in underwriting decisions.

Accommodations are available to enable individuals with disabilities to perform essential job functions,
as required by law

Benefits 

• 401k Company Match
• Commuter Benefits
• Credit Union Membership
• Company Holidays
• Dental Insurance
• Dependent Care Plan
• Disability Insurance
• Employee Assistance Program
• Life Insurance
• Medical Insurance
• Paid Time Off Plan
• Vision Insurance

Applicants must be authorized to work in the US.  We do not offer sponsorship for work authorization, or related employment visas, for this position.

Spring EQ is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all team members.