Due Diligence Underwriter II

Company Background: BNC Mortgage has become the 8th largest wholesale subprime lender (National Mortgage News) in the mortgage industry. We have funded over $50 billion in home loans since our inception in 1995. In 2004, we became a wholly owned, operating subsidiary of Lehman Brothers Bank, FSB. As a result, Lehman Brothers, a Wall Street company, has been able to add superior strength and stability to our company.

Our headquarters are in Irvine, California, and we employ over 1,800 professionals. With our extensive network of local branch offices throughout the United States, we are able to provide exceptional customer service to our mortgage brokers. At BNC Mortgage, we offer a competitive compensation package and comprehensive benefits, including 401 (k) plan with match.

BNC Mortgage, Inc. is committed to the principles of equal employment opportunity. BNC does not discriminate against any employee or applicant for employment because of race, color, religion, gender, national origin, veteran status, disability, age, citizenship, marital or domestic/civil partnership status, sexual orientation, gender identity or expression, or because of any other criteria prohibited under applicable law.

General Summary:

Responsible for assisting in the sale of whole loans to investors. Also responsible for assisting in the early payment default review process.

Essential Duties:


Review and respond to investor underwriting, compliance, and appraisal issues during a loan sale.

Obtain documentation needed to reverse investor issues and make loans compatible to investor purchase.

Re-underwrite to various loan programs to enable loan to meet specific guidelines.

Review and obtain documentation to verify compliance with federal and state regulations.

Enter disposition and findings in Loan Tracking database.

Provide information and feedback to manager relative to issues identified in review process so that they can be communicated back to the branch, to the training department, and any other associates as management finds appropriate

Assist in the creation of reports to management as required

Participate in regularly scheduled and/or ad hoc departmental meetings as required.

Willingness to assist on ad hoc projects such as special audits as requested by Senior managementJob Requirements
Qualifications, Knowledge, Skills and Abilities:


Minimum 3 to 5 years' experience in underwriting in a subprime mortgage lending environment

Current knowledge of industry standard regulatory compliance and loan mortgage lending life cycle

Ability to work independently and meet deadlines

Working Knowledge of Microsoft Office and mortgage industry software

Good verbal and written communication skills

Ability to partner with various levels of team members

Working Conditions:


Office Environment