Quality Assumptions Underwriter

Requisition ID
Position Type
Mortgage Operations
Years of Experience
$50,000 - $75,000


Pennymac (NYSE: PFSI) is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. 


At Pennymac, our people are the foundation of our success and at the heart of our dynamic work culture. Together, we work towards a unified goal of helping millions of Americans achieve aspirations of homeownership through the complete mortgage journey.

A Typical Day

The Qualified Assumption Underwriter will be responsible for underwriting qualified assumptions on agency and government loans to established company and investor guidelines. As the Underwriter, you will review to ensure all requirements are met on all loans, loan is insurable and PNMAC overlays applied.


The Qualified Assumption Underwriter will:


  • Review all income documentation to calculate the qualifying income for each borrower

  • Review all asset documentation to calculate the available liquid and non-liquid assets for each borrower

  • Review loan application and other property related documentation to ensure the information for rental properties is accurate

  • Input all required information and required conditions into Encompass system accurately and within established time frames

  • Collaborate with Sales and Processing teams to obtain the proper documentation and proper loan details loan details

  • Perform other related duties as required and assigned

  • Demonstrate behaviors which are aligned with the organization’s desired culture and values

  • Review Post Approval conditions, update initial income and asset tools as required, and clear conditions when applicable

What You’ll Bring

  • 5+ years of relevant work experience in the mortgage industry

  • Ability and willingness to train and mentor less experienced associates

  • Proficiency with asset and income documentation, including but not limited to, tax returns, fixed income sources, paystubs, W2’s, retirement statements, bank statements, 

  • Must be highly proficient in Gmail, Excel and Word, preferably previous experience with Encompass

Why You Should Join

As one of the top mortgage lenders in the country, Pennymac has helped over 4 million lifetime homeowners achieve and sustain their aspirations of home. Our vision is to be the most trusted partner for home. Together, 4,000 Pennymac team members across the country are guided by our core values: to be Accountable, Reliable and Ethical in all that we do. 

Pennymac is committed to conducting a business that makes positive contributions and promotes long-term sustainable growth and to fostering an equitable and inclusive environment, where all employees and customers feel valued, respected and supported. 


Benefits That Bring It Home: Whether you're looking for flexible benefits for today, setting up short-term goals for tomorrow, or planning for long-term success and retirement, Pennymac's benefits have you covered. Some key benefits include: 

  • Comprehensive Medical, Dental, and Vision
  • Paid Time Off Programs including vacation, holidays, illness, and parental leave 
  • Wellness Programs, Employee Recognition Programs, and onsite gyms and cafe style dining (select locations)
  • Retirement benefits, life insurance, 401k match, and tuition reimbursement 
  • Philanthropy Programs including matching gifts, volunteer grants, charitable grants and corporate sponsorships


To learn more about our benefits visit: https://pennymacnews.page.link/benefits


Compensation: Individual salary may vary based on multiple factors including specific role, geographic location / market data, and skills and experience as defined below:

  • Lower in range - Building skills and experience in the role
  • Mid-range - Experience and skills align with proficiency in the role 
  • Higher in range - Experience and skills add value above typical requirements of the role 


Some roles may be eligible for performance-based compensation and/or stock-based incentives awarded to employees based on company and individual performance. 



$50,000 - $75,000

Work Model



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