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Salary: USD 32 - 40 / hourly
Trovy is building a financial platform for homeowners to manage their homes and access low-rate credit through home equity. The company is backed by Left Lane, Kleiner Perkins, DCM, and Camber Creek, and is led by fintech veterans.
As an Underwriter, you'll be a core member of Trovy's credit team, responsible for making sound, well-documented credit decisions on HELOC applications. You'll focus on complex files, particularly self-employed borrowers and business owners whose income flows through S corporations, partnerships, LLCs, and sole proprietorships.
Key responsibilities include:
- Underwriting HELOC applications end-to-end, evaluating income, credit, assets, collateral, and title against Trovy's credit policy
- Performing complex income analysis for self-employed borrowers using Schedule C, Schedule E, K-1s, and business returns (Forms 1120S, 1065, 1120)
- Assessing business stability, ownership percentage, distributions, liquidity, and year-over-year trends
- Calculating and validating employment, rental, investment, and other income types; verifying through tax transcripts, paystubs, W-2s, and third-party tools
- Reviewing credit reports, calculating debt-to-income ratios, and evaluating credit history and layered risk factors
- Evaluating collateral using AVMs and valuation tools; reviewing lien position, title, and property ownership
- Identifying red flags and potential fraud; conditioning or escalating files appropriately
- Documenting decision rationale clearly to ensure audit readiness
- Communicating conditions and document requests to operations and borrowers
- Supporting adverse action processes and ensuring compliance with ECOA, Reg B, FCRA, and fair lending requirements
- Contributing to Trovy's underwriting playbook by drafting procedures, income worksheets, and job aids; flagging policy gaps
- Partnering with credit policy, operations, and product teams to improve workflows, automation, and applicant experience
- Staying current on credit policy, state-specific requirements, and lending regulations
This is not a sales role. Success is measured by decision quality, accuracy, and consistency.
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
- Working knowledge of Reg Z (TILA), ECOA and Reg B, FCRA, and fair lending principles
- Experience with a loan origination system and third-party verification tools
- Sound, independent judgment; ability to make decisions, defend them in writing, and know when to escalate
- Highly organized with strong attention to detail; ability to maintain accuracy and documentation during high volume periods
- Clear written and verbal communication; ability to explain conditions and decisions in plain language
- Process-oriented approach with bias toward improvement; familiarity with how strong credit shops operate
- Comfort working in a startup environment where processes are still being built
