Mortgage Underwriting Policy SME

Role Overview

As  Mortgage Underwriting Policy SME, you will serve as the subject-matter authority for U.S. residential mortgage underwriting policies and guidelines across Product, Engineering, AI, and Operations.

You will bring deep, hands-on underwriting expertise to help define, validate, and operationalize mortgage underwriting policies within the JazzX Mortgage Application. The role requires strong knowledge of Fannie Mae, Freddie Mac, FHA, VA, USDA, AUS findings, underwriting exceptions, compensating factors, and mortgage underwriting workflows.

You will work closely with Product, Engineering, AI, and Operations teams to translate complex underwriting policies into actionable rules, validate AI-generated underwriting decisions, and ensure that the product accurately reflects real-world mortgage underwriting practices.

This is a hands-on SME role requiring strong underwriting judgment, policy interpretation, analytical thinking, and the ability to work directly with U.S.-based stakeholders and clientsWhat You’ll Do

Mortgage Underwriting & Policy

• Serve as the Policy Owner / Mortgage Underwriting SME for the JazzX Mortgage Application.
• Interpret and apply U.S. residential mortgage underwriting guidelines and policies to complex underwriting scenarios.
• Review underwriting decisions, AUS findings, exceptions, compensating factors, conditions, and overrides.
• Apply Fannie Mae and Freddie Mac guidelines and, where applicable, FHA, VA, and USDA requirements.
• Provide clear and well-documented rationale for underwriting decisions and policy interpretations.
• Stay current with changes to mortgage underwriting guidelines, investor requirements, and industry practices.

AI Underwriting Validation

• Review and validate AI-generated underwriting decisions and recommendations against applicable mortgage guidelines.
• Compare automated underwriting outputs with expected manual underwriting decisions and identify discrepancies.
• Analyze root causes of policy or decisioning gaps and recommend corrective actions.
• Support the development of validation and QA frameworks for AI-assisted underwriting.
• Ensure automated underwriting decisions are accurate, explainable, traceable, and policy-compliant.

Policy-to-Product / AI Translation

• Translate complex mortgage underwriting policies and guidelines into clear, actionable business rules.
• Work with Product, Engineering, and AI/Data Science teams to convert underwriting requirements into AI decision logic.
• Define policy exceptions, fallback logic, conditions, acceptance criteria, and decision requirements.
• Help establish appropriate audit trails and documentation for automated underwriting decisions.
• Review product requirements, test cases, and releases from an underwriting-policy perspective.

Mortgage Workflow & LOS

• Apply knowledge of end-to-end mortgage workflows across Loan Officers, Processors, Underwriters, Closers, Post-Close QC, Servicing, and Investor/Secondary Market functions.
• Identify workflow gaps, handoff issues, data dependencies, and opportunities to reduce rework.
• Work with LOS/integration teams to map relevant loan data and fields to underwriting rules and conditions.
• Leverage experience with Encompass and similar mortgage technology platforms to support product requirements.

Client & Stakeholder Engagement

• Participate in discussions with U.S.-based clients and stakeholders to understand their underwriting requirements.
• Explain underwriting policies, decisions, exceptions, and interpretations to client stakeholders.
• Support client-specific mortgage applications and underwriting requirements.
• Partner with Product, Engineering, and Operations teams to ensure alignment between client requirements and product capabilities.

Knowledge Transfer

• Create and maintain underwriting playbooks, policy documentation, decision frameworks, and reference materials.
• Train Product, Engineering, AI, and Operations teams on mortgage underwriting policies and workflows.
• Serve as the primary domain reviewer for underwriting-related product specifications, test plans, and release readiness.

What We’re Looking For

Required Qualifications

• 10+ years of hands-on U.S. residential mortgage underwriting experience, preferably in senior, specialist, or policy-focused roles.
• Deep and current knowledge of Fannie Mae and Freddie Mac underwriting guidelines.
• Strong understanding of residential mortgage underwriting policies, guidelines, workflows, and decision-making.
• Experience interpreting AUS findings, underwriting conditions, exceptions, compensating factors, and overrides.
• Strong experience handling complex underwriting scenarios and applying appropriate policy interpretation.
• Hands-on experience with Encompass or other major mortgage LOS platforms.
• Ability to translate complex underwriting policies into clear, actionable business rules and decision logic.
• Strong analytical and problem-solving skills with a validation-oriented mindset.
• Excellent written and verbal communication skills.
• Ability to work effectively with Product, Engineering, AI/Data Science, Operations, and U.S.-based clients/stakeholders.

Preferred Qualifications

• Experience with FHA, VA, and USDA underwriting guidelines.
• Experience with government-backed mortgage programs.
• Experience in underwriting automation, AI-assisted underwriting, or underwriting QA/validation.
• Experience with post-close QC or secondary-market/investor requirements.
• Experience working with mortgage lenders, servicers, investors, or mortgage technology companies.

• Experience translating underwriting policies into technology/product requirements.
• Prior experience working directly with U.S.-based mortgage clients or stakeholders.

Skills & Competencies

• Deep mortgage underwriting and policy expertise.
• Strong ability to interpret and apply complex underwriting guidelines.
• Ability to convert domain knowledge into structured rules and decision logic.
• Strong attention to detail and a validation and risk-focused mindset.
• Strong stakeholder management and communication skills.
• Comfortable working in a cross-functional Product, Engineering, and AI environment.
• Ability to explain complex underwriting concepts clearly to both technical and non-technical teams.
• Strong ownership and ability to operate as the go-to domain expert for mortgage underwriting policy.