About This Role
This Underwriter role is a core member of Trovy's credit team, making sound, well-documented credit decisions on HELOC applications. The position focuses on complex files, especially self-employed borrowers and business owners whose income runs through various corporate structures. It suits an experienced underwriter who can analyze tax returns, identify risks, and contribute to sharpening credit policy and procedures.
Responsibilities
- Underwrite HELOC applications from start to final decision, evaluating income, credit, assets, collateral, and title against Trovy’s credit policy
- Perform complex income analysis for self-employed borrowers, including Schedule C, Schedule E, K-1s, and business returns (Forms 1120S, 1065, and 1120), using business cash flow analysis consistent with Trovy’s credit policy
- Assess business stability and the borrower’s access to business income, including ownership percentage, distributions, liquidity, and year over year trends
- Calculate and validate employment, rental, investment, and other income types, and verify income through tax transcripts, paystubs, W-2s, and third-party verification tools
- Review credit reports, calculate DTI, and evaluate credit history, liabilities, and any layered risk factors
- Evaluate collateral using AVMs and other valuation tools, and review lien position, title, and property ownership, including trust held property
- Identify red flags and potential fraud, and condition or escalate files appropriately
- Clearly document the rationale for every decision, including exceptions and conditions, so files are audit ready
- Communicate conditions and document requests clearly to the operations team and, when needed, to borrowers
- Support adverse action processes and ensure decisions comply with ECOA and Reg B, FCRA, and fair lending requirements
- Help build Trovy’s underwriting playbook: draft procedures, income worksheets, and job aids, and flag policy gaps or inconsistencies as you find them
- Partner with credit policy, operations, and product teams to improve decisioning workflows, automation, and the applicant experience
- Stay current on Trovy’s credit policy, state specific requirements, and applicable lending regulations
Requirements
- At least 5 years of mortgage or home equity underwriting experience, with substantial experience underwriting self-employed borrowers
- Expert command of complex income analysis, including personal and business tax returns, K-1s, business cash flow analysis, and comparative year over year income review
- Experience applying written credit policy and income guidelines consistently; non QM or HELOC experience is a strong plus
- Solid understanding of credit, collateral, and title review, including CLTV, lien position, and valuation methods such as AVMs
