Securitization Credit Associate

This is an exciting opportunity to join a growing company in an emerging market. We offer a fast paced and fun environment where your input and experience is valued. This is an additional resource for an existing position within the Verus organization. You will have opportunities to exercise your leadership skills and take ownership of the process for this new business line.

Company:

Founded in 2015, Verus Mortgage Capital (VMC) is a non-QM correspondent investor backed by Invictus Capital Partners, a leading investment firm. VMC purchases loans in all 50 states and the District of Columbia and focuses solely on the non-QM market. It offers correspondent lenders a wide range of home financing products for credit worthy borrowers.

The Washington, D.C.-based company, with operations located in Minneapolis, has purchased $2.6 billion in expanded, non-QM loans since its inception. In addition, through its affiliates, VMC has completed six rated securitizations. Mortgage bankers can learn more about VMC’s investor products by visiting www.verusmc.com.

Role:

The role of the Securitization Credit Associate is to efficiently facilitate the preparation of mortgage assets for securitization. And work with sellers/clients and acquisition counterparts to successfully purchase viable mortgage transactions that can be successfully securitized. The ideal candidate must be extremely organized and detail oriented with strong time management skills.

Accountabilities:

  • Review underwriting exceptions and documented compensating factors for acceptability and/or to address questions at time of securitization.
  • Follow transaction timelines, loan documents, securitization documents, sites and multiple parties associated with the successful securitization of mortgage assets.
  • Interact with third-party diligence providers, rating agencies, attorney’s, banking partners and internal counterparts.
  • Work with internal counterparts and third-party diligence firms to ensure reviews and data of assets purchased is accurate and meets rating agency requirements for securitization.
  • Continual evaluation of existing loan portfolio including underwriting and product parameters to resolve any concerns regards securitization eligibility
  • Work with team to continually develop the process and procedures document related to securitization and credit processes.
  • Willingness to work with Operational team on any other duties necessary to acquire assets or as assigned by management.

All job duties and responsibilities must be performed within the guidelines of the Verus Employee Handbook and established company policies and procedures. It is also the responsibility of each employee to maintain the confidentiality of the company, its clients and to follow applicable laws and regulations in the performance of the employee’s duties.

Qualifications:

  • In depth knowledge of mortgage underwriting, product guidelines, production and securitization process.
  • Minimum of 5 years current mortgage underwriting experience with 3+ years of non-prime mortgage underwriting.
  • Strong underwriting and analytical skills with the ability to address credit risk issues from both a business and technical perspective.
  • Proficient with Microsoft Excel and Word
  • Project management skills, including a demonstrated ability to manage multiple parties involved in the securitization process where results and actions conclude with a successful closed securitization.
  • Experience managing third-party providers
  • Ability to work within short time-frames, good under pressure
  • Strong oral and written communication skills
  • Current knowledge of state and federal compliance and regulatory environment
  • Ability to work both independently and collaboratively within a small team environment.

Apply Online

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