The Renovation Underwriter will help RenoFi reinvent renovation underwriting. The ideal candidate is an experienced mortgage lending professional looking for an opportunity to break away from the archaic processes of the traditional mortgage world and join the leading fintech changing the game for the $300bn/yr home renovations market.

As a renovation underwriter you’ll be responsible for reviewing eligibility documents along with a host of renovation documentation. You’ll collaborate with your operations teammates to enhance our proprietary renovation underwrite process. The individual should be organized, creative and customer obsessed as well as passionate about being a part of a leading innovative fintech start-up.

RenoFi is a fully distributed team, meaning you can work from anywhere. We are seeking the best talent regardless of location. RenoFi is not a lender but we work with them hand-in-hand to ensure they get the best qualified consumers with the most accurate and complete data to do their job.

WHAT YOU'LL BE DOING:

Underwrite large volumes of fast moving renovation style mortgages (1st and 2nd lien) to internal, and third party, guidelines.
Collaborate with the operations team to perfect the underwriting and customer experience process and guidelines.
Be a forward thinker with an open mind to break away from legacy mortgage practices while beholding to underwriting standards consistent with mortgage industry best practice.
Be a champion for RenoFi throughout the mortgage ecosystem.

WHAT WE'RE LOOKING FOR:

7+ years mortgage underwriting experience
Experience underwriting both 2nd and first mortgage product knowledge is required including HELOCs, fixed rate Home Equity loans, 203K loan, CTP, and others.
Experience reviewing renovation documents including contracts, budget estimates, renovation plans, and renderings.
Understanding of mortgage regulations
Experience working with wholesale lenders like UWM, Flagstar and plus.
Strong organizational and communication skills
Experience working remotely
Experience working paperless

We are committed to hiring and cultivating a diverse team. If you are uncertain about whether you meet our requirements, please apply anyway!

ABOUT US:

The demand for home renovations has never been stronger, yet, it's surprisingly difficult for a new homeowner to renovate. It can take a decade to build up enough home equity and savings to pay for a major renovation. As a result, recent homeowners do a lot of financially-suboptimal things to compensate like borrow from their 401k, rack up credit card debt, and use high-interest personal loans. Or they just live unhappily for years in a home that doesn't meet their family's needs.

But by completing a major renovation, homeowners are increasing the value of their home. Professional real estate investors leverage this After Renovation Value (ARV) to roll the increase in value into new properties all the time. But there hasn't been a great way for homeowners to take advantage of this. If homeowners had an ability to borrow against the ARV, they could increase their borrowing power up to 10x.

To meet this need, RenoFi created a platform that enables homeowners to borrow funds from RenoFi approved lenders in the form of the first home equity loan purpose-built for renovations! Unlike standard home equity loans, RenoFi Loans use the value of your home post-renovation which lets you borrow the most money at the best possible terms. RenoFi is creating a full suite of renovation loan products to better suit the needs of today’s homeowners!

For homeowners, RenoFi makes it possible to renovate years earlier than might be otherwise feasible. For contractors, we empower the financing of renovations at the point of sale, reducing instances of scope reduction, and ensuring prompt payment. Our lender partners, most often credit unions, rely on RenoFi's platform to generate loans, create efficiencies, and grow membership. The lenders pay RenoFi for the new loans, which allows us to offer our services to homeowners for free. RenoFi is truly a win-win-win for everyone involved.

RenoFi is backed by some of the best startup investors in the world, including First Round Capital, Comcast Ventures, and Canaan Partners.

WE ARE A GLOBALLY DISTRIBUTED TEAM

RenoFi has been built from the start as a fully distributed team with an intentional focus on growing a strong team and culture that spans timezones and nationalities. Here's one fun example!

Please highlight any prior experience working remotely when applying. US or GMT-adjacent timezones will be prioritized.

RenoFi offers competitive cash and equity compensation. Some benefit offerings will vary from country to country. In the United States, we offer competitive health and retirement plans. All staff across the globe enjoy a flexible vacation policy.

READ MORE ABOUT RENOFI

Our post announcing our funding: https://www.renofi.com/blog/financing-should-not-be-the-hardest-part-of-renovating/

Blog post by our lead investor announcing his investment in RenoFi: https://www.canaan.com/latest/brendan-dickinson-announcing-our-investment-in-renofi

National coverage by Housing Wire: https://www.housingwire.com/articles/renofi-raises-6-4-million-to-help-lenders-offer-home-renovation-loans/

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