Job Detail

Mortgage Underwriter at SoFi
Claymont, DE, US
Are you a rock star mortgage underwriter looking to join a company that is poised to change the banking world? Do you embrace hard work and a collegiate culture, and want to be paid well for delivering outstanding results? Then we want to talk to you!

SoFi is looking for Conventional Mortgage Underwriters. You’ll be part of a team of outstanding professionals and work in a dynamic, innovative environment. You’ll get the perks of a start-up – 100% of health, vision, and dental premiums paid by SoFI for employees and their dependents, free lunch, flexible time off – while working in a well-funded, profitable and disruptive financial services company.

In this role, you will be responsible for evaluation, review and decisioning of loan applications based on SoFi eligibility and underwriting guidelines. You will determine stipulations of loans and communicate directly with required parties to resolve stipulations. You will also assist other team members with files which exceed approval guidelines and exceptions.

By joining SoFi, you're joining a new kind of finance company based around speed, transparency, and alignment with our members’ interests. Our goal is to be the center of our members’ financial lives. We created student loan refinancing, addressing the biggest financial challenge this new generation has through a new approach to lending. We expanded into other types of loans, and then into insurance and wealth management with similarly inventive products. As the company has grown, we’ve been able to help more people with these tools.

SoFi has achieved significant growth, with big plans ahead. In just the last year, we've more than doubled our member base (300,000 strong), doubled loan volume ($8 billion in 2016), and grown our team from under 200 people to more than 1,000. We're preparing to go global, with expansion to Australia and Canada planned this year. And we're well capitalized to power all this growth, having raised $1.9 billion in equity backing. But we'll only be able to continue this growth with great talent, and that includes you.

The Underwriter will be responsible for the following:

Underwrite a wide variety of product and loan types
Analyze credit, income, tax returns, assets and appraisals; determine borrower’s credit worthiness and ability to repay loan as agreed for terms requested
Mitigate credit risk by conducting a thorough and prudent review of each loan file; dispositions loans within company issued underwriting authority limits
Seek management approval when loan limit exceeds the underwriter’s authority
Clear all conditions of loan in preparation for closing of the loan
Deliver full disposition of loans within 24-48 hours of receiving loan files into underwriting; clears conditions of loans the same day as received.
Ensure origination data is property entered into SoFi’s systems
Work directly with sales and operations teams to resolve underwriting issues

A minimum of 4 years of current experience in mortgage origination underwriting
Advanced analysis skills in the areas of credit, income, tax returns, assets and property; determine borrower’s credit worthiness and ability to repay loan as agreed for terms requested
Ability to underwrite loans at a national level and in all markets.
Broad knowledge of consumer real estate lending,
Experience reviewing loans for compliance with applicable federal and state laws
Demonstrated ability to work on paperless loans. Proven experience in maintaining status and information within a Loan Origination System (LOS) and Mortgage Dashboard systems, updating notes, status dates, and loan information for reporting as needed.
Demonstrated ability to review documents needed to clear approval conditions
Experience with automated underwriting systems including DU and LP
Demonstrated ability to work in a demanding, fast paced, team oriented setting
Excellent written and verbal communication skills
Effective problem solver

Catered lunches, a fully stocked kitchen, and subsidized gym membership.
Competitive salary package and bonus.
A flexible vacation policy allows you to truly relax and reboot.
Comprehensive health, vision, dental, and life insurance as well as disability benefits.
100% of health, vision, and dental premiums paid by SoFI for employees and their dependents.
401(k) and education on retirement planning.
Tuition reimbursement on approved programs, up to $5,250 a year.
Monthly contribution to help you pay off your student loans.