Mortgage Loan Underwriter

Salary: $85,000 - $100,000 USD Employment Type: Full-time

Position Overview

Tomo is an AI-powered mortgage bank dedicated to simplifying home lending. Our innovative technology makes the home buying process faster, less frustrating, and more affordable by passing savings directly to homebuyers. We aim to eliminate excessive fees and inflated rates that cost Americans billions annually. Backed by Progressive Insurance, Citi Ventures, and other top-tier investors, Tomo is on track to become one of the largest lenders in America.

We are seeking ambitious, team-oriented, and driven individuals who embrace challenges and possess a pattern of success. Tomo teammates are energized by our mission and enjoy a collaborative work environment.

As a Mortgage Loan Underwriter, you will join Tomo's growing mortgage operations team. You will leverage established underwriting guidelines to evaluate borrower financial and credit information, along with property valuations, to make informed lending decisions. You will collaborate closely with the operations team to bring loans to closing, without direct borrower interaction. We are looking for resourceful Underwriters who can adapt guidelines to fit borrowers.

Our goal is to create a memorable home buying experience for our customers through a combination of technology and excellent service. With offices in Detroit, Seattle, and Stamford, CT, we are rapidly expanding.

Responsibilities

• Underwrite and decision residential agency conforming mortgage loans.
• Verify and analyze all necessary financial information and documentation, ensuring loan files contain all required credit and legal documents.
• Review appraisal reports to identify and resolve any discrepancies.
• Perform thorough analysis of applicant's income and expense data, asset documentation, credit reports, and property valuations to affirm borrower qualifications.
• Calculate qualifying ratios, determine creditworthiness, and provide risk opinions.
• Maintain a proactive review of the loan pipeline.

Requirements

• 7+ years of experience underwriting Fannie Mae and/or Freddie Mac loans.
• Proficiency with Desktop Underwriter (DU) & Loan Prospector/Loan Product Advisor (LP/LPA).
• Understanding of the mortgage lending process.
• Ability to perform loan calculations (DTI, LTV, etc.).
• Capacity to handle multiple files simultaneously.
• Strong written and verbal communication skills.
• Ability to perform well in team environments.
• The drive to build something new.
• Leadership experience is a plus.

Preferred Qualifications

• VA LAPP/SAR/DE Certifications.
• Experience working with Fannie Mae and/or Freddie Mac.

Company Information

Tomo is an AI-powered mortgage bank on a mission to eliminate greed and complexity in home lending. Our technology makes the process of buying a home faster, less frustrating, and way less expensive. By passing these savings directly to homebuyers, we eliminate the excessive fees and inflated rates that cost Americans billions each year. Tomo is backed by Progressive Insurance, Citi Ventures and other top-tier investors, on track to be one of the biggest lenders in America.

We are intentional about who joins our rapidly growing team—we seek ambitious, team-oriented, and driven individuals who embrace the effort required to win. At Tomo, we seek teammates who have a pattern of success in their lives —whether demonstrated through work, academics, athletics, or personal endeavors. Tomowners lean into the company culture, are energized by our mission and want to have fun at work.

With offices in Detroit, Seattle and Stamford, CT, we are quickly expanding in order to deliver a once-in-a-lifetime experience through a combination of technology and excellent service.