New Penn Financial

  • Non Agency/NON -QM Underwriter

    Job Locations US-CA-Costa Mesa
    Job ID
  • Overview




    Founded in 2008, New Penn Financial has become a leading nationwide lender by bringing together expertise, exceptional customer service, and extremely competitive rates on a broad offering of mortgage products (including Fannie Mae, Freddie Mac, Ginnie Mae, HUD, FHA, VA, USDA, and our portfolio products).  New Penn is licensed in 48 states plus the District of Columbia.   


    Primary Function

    The Underwriter (Non-Agency/Non QM)  is responsible for performing a detailed review of residential mortgage loan applications and documentation as submitted to ensure that the loans meet underwriting guidelines as established by New Penn Financial (NPF) and various Non Agency investors.   The detailed review of the submission will include reviewing all documentation including but not limited to credit reports, income documentation, asset documentation, collateral, fraud prevention tools and other applicable documentation as required to render a decision. This role is responsible for effectively communicating all lending decisions to appropriate parties as defined by New Penn Funding procedures and process Adverse Action Notices, where applicable.

    Mission Statement:

    New Penn Financial has become a leading nationwide mortgage lender because we have the expertise, the product solutions and competitive pricing talented individuals expect. We maintain a favorable reputation because we deliver exceptional customer service to our borrowers and clients. Founded in just 2008 as a start-up, we have grown to over 1,800 employees nationwide with over 140 branches, licensed in 48 states. We have earned the recognition of Inc. Magazine’s 500/5000 Lists of Fastest Growing Private Companies, hold a position on Mortgage Executive Magazine’s list of 50 Best Companies to Work For, and regularly appear on the Scotsman Guide list of top lenders, to name a few.


    • Reviews and analyzes documentation provided on each loan including the 1003, credit report, income and asset documentation, purchase agreement, title report, etc. to make an informed lending decision in compliance with NPF polices and guidelines
    • Calculates borrower’s income and debt-to-income ratios based on acceptable NPF and agency practices
    • Renders a lending decision within assigned lending authority in compliance with established underwriting guidelines and all state and federal reporting guidelines (Including but not limited to HMDA, RESPA, HOEPA)
    • Documents lending decisions and completes required screens in the LOS that include the accurate completion of the 1008 as well as adding and/or creating applicable conditions of the loan approval
    • Reviews conditions submitted on loans from Account Managers/Processors and signs off the condition when appropriate
    • Provides feedback for improvement to Account Manager and/or Team Leads in deficient areas as identified through the review of conditions submitted by the Account Manager
    • Works closely with Account Manager/Processor and/or Account Executive/LO  to answer loan specific underwriting questions, to discuss specific conditions or documentation requested and to resolve problems
    • Performs a comprehensive appraisal review to ensure the collateral is acceptable and meets established guidelines
    • Adheres to underwriting guidelines to fulfill agency requirements
    • Displays excellent verbal, written and interpersonal communication skills
    • Effectively communicates all decisions and any required conditions to the broker, Account Executive  or Account Manager
    • Provides assistance to expedite final approval of the file
    • Maintains and cultivates an effective working relationship with internal and external customers
    • Responds to all inquiries in a timely manner as established by company SLA’s
    • Embraces company culture
    • Able to adjust work and thought process to accommodate changes in the lending environment
    • Consistently meets or exceeds established minimum productivity levels as determined and required by management for both underwriting of files and condition management
    • Provides mentoring, guidance and training to less experienced personnel
    • Provides quality control responses in a timely manner
    • Acts as a role model of the company’s values, acting in an ethical and professional manner at all times
    • Performs related duties as assigned by supervisor



    Education and Experience Requirements  

    • High school diploma required
    • Strong knowledge of self-employed income guidelines
    • Five (5) to ten (10) years in an a Residential Mortgage UW and Compliance environment
    • JUMBO or NON QM Underwriting experience preferred
    • Ability to manage a high volume high service environment
    • Working knowledge of FNMA/FHLMC and investor underwriting guidelines
    • Working knowledge of lending compliance and regulations
    • Ability to utilize computer software – MS Word, MS Excel, MS Office. The internet and email are an integral part of day to day activity

    Knowledge, Skill and Ability Requirements  

    • Must possess the ability to work efficiently and accurately
    • Excellent verbal and written communication skills
    • Demonstrated professionalism, tact and diplomacy
    • Exceptional customer service and interpersonal skills
    • Strong problem solving and conflict resolution skills
    • Ability to adapt to new demands and challenges
    • Strong organizational skills with close attention to detail
    • Strong time management skills
    • Ability to work under minimal supervision is required
    • Natural collaborative approach to decision-making
    • Clear understanding of the implications of customer service
    • Ability to maintain confidentiality and discretion
    • Effective decision-making, customer service, sales, customer support and  problem-solving skills
    • Strong attention to detail and accuracy
    • Ability to multi-task and work in a deadline driven environment
    • Ability to work effectively in a team environment


    New Penn Financial, LLC is an Equal Opportunity Employer and Equal Opportunity Lender.


    Visa sponsorship not available for position.


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