Figure

Underwriting Specialist

Figure • $81K *
Charlotte, NC 28269In-Person
Finance & Insurance
Less than 5 years of experience
Today
Be an Early Applicant
Job Overview by Ladders

Qualifications

  • 3+ years of underwriting experience in conventional, portfolio, and special programs.
  • Strong expertise in underwriting guidelines for Self-Employed borrowers, Trusts, LLCs, and DSCR.
  • Proficient in underwriting tools and systems (e.g., DU, LP) and Google Workspace/Microsoft Office.
  • Knowledge of federal and state regulations from regulatory bodies like CFPB and FHA.
  • Ability to analyze and interpret detailed financial data for independent decision-making.
  • Excellent organizational and communication skills with strong attention to detail.
  • Bachelor's degree in Business, Finance, or related field preferred.

Responsibilities

  • Review and underwrite loan applications, ensuring compliance with policies and regulations.
  • Apply underwriting guidelines to a wide variety of loan products.
  • Analyze complex financial data to support lending decisions.
  • Collaborate with the underwriting team to improve guidelines for new products.
  • Monitor key performance metrics to enhance underwriting accuracy and compliance.
  • Provide feedback and work with cross-functional teams to resolve loan application issues.
  • Maintain accurate loan documentation and improve underwriting procedures.

Benefits

  • Comprehensive medical, dental, and vision coverage with employer-paid premiums for employees and dependents.
  • 401(k) and commuter benefits, along with company HSA and FSA options.
  • Paid life and disability insurance provided by the employer.
  • Generous PTO plan with 11 observed holidays and up to 12 weeks of paid family leave.
  • Support for ongoing professional development through continuing education reimbursement.
Full Job Description
About the Role

Figure is looking for an Underwriter Specialist to join our dynamic team. This role will be key in developing and maintaining underwriting processes and ensuring our loan products adhere to all regulatory and internal standards. The ideal candidate will bring expertise in underwriting various loan products and contribute to enhancing operational efficiency and product innovation.

What You'll Do
  • Review and underwrite loan applications, ensuring compliance with company policies, investor guidelines, and applicable regulations.
  • Apply underwriting guidelines for diverse loan products, including those for Self-Employed borrowers, Trusts, LLCs (Limited Liability Companies), POA Power of Attorney), and DSCR (Debt Service Coverage Ratio).
  • Analyze complex financial data, such as tax returns, income statements, and business documentation, to make informed lending decisions.
  • Collaborate with the Senior Operations Manager and underwriting team to develop and refine underwriting guidelines for new products.
  • Monitor key performance metrics for underwriting accuracy, efficiency, and compliance.
  • Provide feedback on loan applications and collaborate with cross-functional teams (e.g., Product, Legal, Credit) to resolve issues and ensure seamless loan processing.
  • Ensure accuracy and completeness of loan documentation, including reviewing credit, collateral, and income verification.
  • Help create and maintain training materials, underwriting procedures, and compliance documentation.
  • Stay current with industry regulations, investor requirements, and best practices related to underwriting.
  • Support efforts to improve underwriting efficiency, quality, and compliance across new loan products.
  • Assist in responding to loan repurchase requests, underwriting deficiencies, and any other challenges that arise.

What We Look For
  • 3+ years of underwriting experience, with a focus on conventional, portfolio, and special program loans.
  • Expertise in underwriting guidelines, including Self-Employed borrowers, Trusts, LLCs, Powers of Attorney (POA), and Debt Service Coverage Ratios (DSCR).
  • Familiarity with underwriting tools and systems (e.g., DU, LP), as well as proficiency in Google Workspace and/or Microsoft Office Suite.
  • Knowledge of federal and state regulations, including those set by the CFPB, FHA, VA, and other relevant bodies.
  • Ability to analyze and interpret financial data and make independent underwriting decisions.
  • Strong attention to detail and the ability to manage multiple tasks in a fast-paced environment.
  • Excellent organizational, communication, and time management skills.
  • Ability to work collaboratively across teams to resolve issues and ensure the timely processing of loans.
  • Bachelor's degree in Business, Finance, or a related field preferred.
  • Ability to thrive in a dynamic, startup-like environment.
  • Adhere to all company security policies and data handling procedures.
  • Complete mandatory security awareness training within required timeframes.
  • Promptly report any suspected security incidents or suspicious activity to the Security team.

Salary
  • Base Compensation: $39/hour
  • 25% annual bonus target, paid quarterly

Benefits
  • Comprehensive medical, dental, and vision coverage, with 100% employer-paid premiums for employees and their dependents on select plans
    Company HSA, FSA, Dependent Care FSA, 401(k), and commuter benefits
    Employer-paid life and disability insurance
    11 observed holidays and PTO plan
    Up to 12 weeks of paid family leave
    Continuing education reimbursement

#LI-SB1 #LI-Hybrid

About Figure

Figure is a financial technology company that provides home equity loans and other financial services. The company was founded in 2018 by Mike Cagney, a former CEO of the online lending platform, SoFi. Figure's platform uses blockchain technology to streamline the loan application process and reduce costs. The company has raised over $225 million in funding and has partnerships with several major financial institutions, including Jefferies and WSFS Bank. Figure was named one of the 50 most innovative fintech companies in the world by Forbes in 2019.
Learn more about Figure
Size
200 employees
Industry
Finance & Insurance
Founded
2018
* Ladders Estimates

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