Cake Mortgage Corp · 1 month ago
Condo Underwriter
Chatsworth,CA,US
Full-time
Onsite
Mid Level
3+ years expCAKE Mortgage is a cutting-edge wholesale mortgage lender specializing in Non-QM products. The Condo Underwriter is responsible for reviewing and approving condominium projects for Non-QM loans, conducting assessments of project documentation, and ensuring project eligibility.
CreditFinanceFinancial ServicesLendingMortgage
Responsibilities
Review and underwrite condominium project approvals for Non-QM loans in accordance with company guidelines and investor standards
Analyze HOA documents, budgets, insurance policies, and legal project materials to determine project eligibility and financial stability
Evaluate key project characteristics such as occupancy ratios, litigation, special assessments, and reserve funding
Collaborate with collateral, credit, and operations teams to ensure all documentation required for condo review is complete and accurate
Maintain up-to-date knowledge of Non-QM condo project requirements and regulatory guidelines impacting condominium financing
Identify, assess, and mitigate potential project risks that could affect loan salability or investor acceptance
Prepare detailed project review summaries and communicate findings clearly to internal teams and management
Provide guidance and support to underwriters and account managers regarding condominium eligibility standards
Partner with management to recommend enhancements to condo review policies, procedures, and workflows
Assist in developing review templates, job aids, and process improvements to promote accuracy, consistency, and efficiency
Participate in quality control reviews and audits related to condominium underwriting
Maintain accurate records of all condo reviews and approvals in accordance with company documentation standards
Coordinate with internal and external stakeholders to resolve pending items and obtain final condo approval decisions
Qualification
Required
3–5 years of experience in condominium underwriting, project review, or collateral analysis within the mortgage industry
Strong understanding of condominium project eligibility requirements for Non-QM or portfolio lending programs
Familiarity with investor and regulatory guidelines related to condo approvals (e.g., FNMA, FHLMC, and Non-QM equivalents)
Experience with loan origination systems (LOS), preferably Encompass
Excellent analytical and problem-solving skills with strong attention to detail
Strong written and verbal communication skills
Ability to work independently while contributing effectively within a team environment
Proven ability to manage multiple condo reviews in a fast-paced, deadline-driven environment
Benefits
Competitive compensation and performance-based bonuses.
Collaborative and entrepreneurial culture.
Opportunities for career advancement and innovation.
Company
Cake Mortgage Corp
Our Mission is to be a Partner For Life by empowering our customers to get the most value out of their biggest investment–whether they’re purchasing a new home, refinancing to a lower rate or tapping some hard-earned equity, we’ll stop at nothing to make every stage of home ownership a piece of Cake.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
Hilton Sher
Cyber Security Information Executive & CTO
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