Mortgage Underwriter

We are looking for an experienced, independent-minded Underwriter who is confident in their ability to make loan decisions without relying on an AUS, and comfortable with various formats of underwriting, including manual. And, excited about the opportunity to work in a new market with a truly unique product in a fast-paced start-up environment.

General Responsibilities
Thoroughly underwrite file to Privlo guidelines including accurately assessing product matrix, pricing tool, income and asset worksheets.
Clearly and accurately document calculations for qualifying income, assets, ATR, valuation used for loan to value.
Efficiently and accurately evaluate all loan conditions to a clear to close state.
Thoroughly review all collateral conditions including, but not limited to an appraisal and sales contract to properly establish the value Privlo will lend to.
This is not an exhaustive list of duties or functions and may not necessarily comprise all of the "essential functions" for purposes of the ADA.
Professional Experience and Skills
Provide consistent, quality borrower communication.
Deep experience (7+ years) in mortgage underwriting across conforming and non-
conforming loans, especially Jumbo, Subprime, Alt-A and Borrowers with unique
Income/Asset situations.
Deep experience in understanding the full spectrum of Mortgage Fraud.
Ability to demonstrate high quality decision making consistent with secondary market and portfolio expectations.
Understanding of the entire mortgage origination process, particularly knowing how to manually underwrite a loan.
Experience in other parts of the mortgage origination process including customer- facing roles like Loan Originator or Loan Processing.
Thorough understanding of regulatory compliance including forthcoming Dodd-Frank Act driven changes.
Excellent communication skills and engaging personality to win the borrower's trust and explain complex details in a simple way.
Experience in explaining decisions to secondary market investors and regulators while being open and transparent to improving the underwriting function.
Licensing in CA, CO, ID, IL, MN, MD, NM, TN, TX, VA or WA preferred, and ability to become licensed in those and additional states required.
Education/Experience Requirements
High School Diploma or equivalent.
Deep experience (7+ years) in mortgage underwriting across conforming and non-
conforming loans, especially Jumbo, Subprime, Alt-A and Borrowers with unique
Income/Asset situations.
Competence in conventional lending is required, FHA/VA desired.
College preferred.
The above statements are intended to describe the general nature and level of work being performed by individuals assigned to this position. They are not intended to be an exhaustive list of all duties, responsibilities, and skills required of employees so classified.
Privlo began its national rollout in 2013 and is currently headquartered in Pasadena, California. We are backed by Spark Capital and QED Investors and have an effectively unlimited lending capacity through our mortgage loan purchasing partnerships.

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