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Remote Senior Non QM Underwriter

Why Deephaven Mortgage?

Deephaven Mortgage has been a pioneer and leader in non-QM since our origin in 2012. Our longevity and strength in the non-QM space has allowed a significant number of borrowers to achieve homeownership who otherwise would not have under traditional requirements. Deephaven champions mortgage borrowers whose independence, entrepreneurial drive and determination are often the very reason they cannot qualify for a traditional loan.

We continuously and responsibly innovate new mortgage products and programs that put homeownership within reach of millions of borrowers and investors that need and deserve financing through lending ingenuity that is supported by common-sense underwriting.

Deephaven is comprised of two lending platforms. Our wholesale channel offers loans through a network of over 1,000 independent mortgage brokers. Our correspondent channel buys loans from over 200 correspondent partners.

Deephaven’s headquarters are in Charlotte, North Carolina. To learn more about our innovative loan solutions please visit www.deephavenmortgage.com or email us at info@deephavenmortgage.com.

Job Overview

In this role, you will be responsible for evaluating complex mortgage loan applications that fall outside traditional Qualified Mortgage (QM) guidelines. You will assess borrower risk based on alternative documentation, ensure compliance with company policies and investor guidelines, and play a key role in decision-making for loan approvals.

What You’ll Do

Manually underwrite mortgage loan transactions submitted by our Correspondent and Wholesale lending clients to company and investor credit guidelines
Perform quality control audits of our third-party vendor to ensure mortgage loans met all company and investor credit guidelines and requirements
Review loan scenarios and communicate purchase/funding eligibility requirements to our Correspondent and Wholesale lending clients
Collaborate with internal staff (e.g., Underwriters, Account Managers, Processors, Closers, Operations Management, etc.) of our correspondent lending clients, brokers and third party-vendors throughout the review process to clear purchase/funding eligibility conditions
Work closely with processing staff to clear loan conditions throughout the process
Assist in handling loan-level credit and compliance questions & issues and in the preparation and dissemination of updated mortgage underwriting and compliance standards and procedures

Job Requirements

Recent, hands-on Non-QM underwriting experience is required, including, but not limited to:
- DSCR
- Bank Statement (personal & business)
- P&L–only qualification
- Asset Depletion
- Multi-family
Experience underwriting HELOCs and 2nd mortgages strongly preferred.
12+ years of experience as an underwriter plus 3-4 years of recent experience underwriting Non-QM products
Ability to manually calculate income across all Non-QM programs, including complex self-employed borrower profiles, layered income sources, and variable cash flow.
Demonstrated ability to independently review and clear:
- Title commitments & supporting documentation
- Appraisal reports (including complex or unique property types)
- Full condo project reviews (warrantable, non-warrantable, new construction, and small projects)
Proficiency in Encompass, with the ability to navigate workflows, analyze documentation, and manage conditions efficiently.
High-volume underwriting background, managing 50+ initial underwrites per month while maintaining quality, accuracy, and fast SLAs.
Strong understanding of Non-QM guidelines, investor overlays, compensating factors, and risk layering.
Excellent communication skills with the ability to clearly document decisions and collaborate with sales, processors, and closers.
Strong critical-thinking, independent-decision-making, and problem-solving skills.
Commitment to loan quality, compliance, and responsible lending.