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 recent experience with Non-QM loans including Bank Statement and/or DSCR.
• 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.

Benefits

• 401k Company Match
• Annual Charitable Matching Gift Program
• Commuter Benefits
• Company Holidays
• Credit Union Membership
• Dental Insurance
• Dependent Care Plan
• Disability Insurance
• Employee Assistance Program
• Life Insurance
• Medical Insurance
• Paid Time Off Plan
• Vision Insurance
• Weekly Non-Management Dinner Benefit

Spring EQ is an Equal Opportunity Employer. We make all employment decisions based on merit and business needs. If you require a reasonable accommodation at any stage of the hiring or employment process, please contact recruiting@springeq.com

This position is not eligible for employer visa sponsorship. Applicants must have valid work authorization that does not require sponsorship now or in the future.