Tomo

Jumbo Mortgage Underwriter

Remote

Not SpecifiedCompensation
Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level
Full TimeJob Type
UnknownVisa
Mortgage, FintechIndustries

Who We Are

Tomo is a digital mortgage company on a mission to eliminate the greed and complexity in lending, helping homebuyers save thousands of dollars. Our AI-driven customer experience makes the lending process faster, less frustrating, and more affordable. By passing these savings directly to homebuyers, we eliminate excessive fees and inflated rates that cost Americans billions each year. Backed by top-tier venture investors, including Ribbit, DST, NFX and Progressive, Tomo is poised to become one of the most valuable fintech startups of our generation.

Beyond producing high quality loans, our goal is to build a memorable experience that will ensure our customers enjoy the home buying process. With offices in New York City, Detroit, and Seattle, we are quickly expanding in order to deliver a once-in-a-lifetime experience through a combination of technology and excellent service.

Jumbo Mortgage Loan Underwriter

Location: Remote, US Reports To: Head of Underwriting Type: Full-Time

As a Jumbo Mortgage Loan Underwriter, you will have the opportunity to join Tomo’s growing mortgage operations team! This is a great opportunity to work with a well-capitalized, dynamic lender that values precision, accountability, and excellence. You will review and analyze large loan applications, assess borrowers' creditworthiness, and ensure adherence to internal and external regulations. Your day will typically involve working with loan officers and processors to verify documentation, calculate income and assets, evaluate risk, and make final loan approval or denial decisions. Collaboration is key, as you'll frequently communicate with colleagues to resolve issues and streamline the underwriting process. Attention to detail and thorough documentation are essential, given the high scrutiny of jumbo loans.

What You’ll Do

  • Review and underwrite high net worth borrower loan applications, including non-conforming scenarios with complex credit, income, and asset profiles
  • Analyze credit reports, income documentation, asset statements, and appraisals to ensure compliance with internal guidelines and investor overlays
  • Accurately review and calculate all income types, including self-employed income and complex tax returns
  • Issue timely and accurate credit decisions including approvals, suspensions, and denials
  • Perform cash flow analysis on personal and business bank statements to verify income and liquidity
  • Evaluate loan applications to determine eligibility, acceptability, and compliance with investor, state, and federal guidelines
  • Underwrite to multiple Non-Agency Jumbo and private investor guidelines in a dynamic and changing market
  • Identify key factors affecting borrower and property eligibility for complex or atypical financial profiles and loan structures
  • Collaborate effectively with sales, processing, and closing teams to ensure smooth loan processing
  • Review resubmissions and conditions promptly and make final underwriting decisions as needed
  • Maintain compliance with FNMA, FHLMC, Non-QM, and internal overlays
  • Balance strong risk management with a customer-first mindset and quality loan decisions
  • Utilize an analytical and methodical approach to underwriting Jumbo loans using the company’s unique upfront method
  • Perform credit and collateral analysis on both conventional and Non-Agency Jumbo files
  • Review initial submissions from production and origination staff and render accurate credit decisions
  • Maintain awareness of regulatory changes and investor guideline updates
  • Other duties as assigned

What Makes You a Great Fit:

  • 7+ years of current experience underwriting Non-Conforming loans
  • Knowledge of Desktop Underwriter (DU) and Loan Prospector/Loan Product Advisor (LP/LPA)
  • Strong knowledge of agency guidelines (Fannie Mae/Freddie Mac) and jumbo/non-conforming investor overlays
  • Proficiency in analyzing complex income, including self-employed borrowers, tax returns, and K-1s
  • Solid understanding of the mortgage lending process
  • Ability to accurate

Skills

Jumbo mortgage underwriting
Loan application review
Creditworthiness assessment
Regulatory compliance
Income calculation
Asset evaluation
Risk assessment
Loan approval/denial
Documentation verification
High net worth borrowers
Non-conforming loans
Complex credit profiles
Complex income profiles
Complex asset profiles

Tomo

Token-based social platform for creators

About Tomo

Tomo Inc. operates a platform called Astro that enhances social interactions between creators and their supporters in the Web3 space. Astro provides features like direct messaging, private rooms, and personalized feeds, all secured by blockchain technology. The platform uses tokens to create unique engagement opportunities, allowing supporters to access exclusive content and privileges based on their token holdings. Tomo targets the rapidly growing creator economy, which includes individuals and small businesses generating income through content creation. The company employs a freemium business model, offering basic features for free while charging for advanced features and premium content, often paid for with tokens. Tomo's goal is to reshape how creators and their audiences connect and engage.

None, CaliforniaHeadquarters
2020Year Founded
$3.4MTotal Funding
SEEDCompany Stage
Consumer Software, Crypto & Web3Industries
11-50Employees

Risks

Blockchain technology evolution may outpace Tomo's current platform capabilities.
Intensifying regulatory scrutiny on token-based transactions poses compliance challenges.
Volatility in cryptocurrency markets affects Tomo's token-based revenue model.

Differentiation

Tomo integrates AI and blockchain for a seamless home-buying experience.
Astro platform offers token-based social interactions for creators and supporters.
Tomo's multi-chain wallet enhances digital asset management within Telegram.

Upsides

Tomo raised $3.5 million in seed funding led by Polychain Capital.
Growing creator economy boosts demand for platforms like Astro.
Increasing interest in SocialFi platforms enhances Tomo's market potential.

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