Underwriting & Credit Policy Director

Who We Are

Tomo is a digital mortgage company on a mission to eliminate the greed and complexity in lending, helping homebuyers save thousands of dollars. Our AI-driven customer experience makes the lending process faster, less frustrating, and more affordable. By passing these savings directly to homebuyers, we eliminate excessive fees and inflated rates that cost Americans billions each year. Backed by top-tier venture investors, including Ribbit, Citi Ventures, NFX and Progressive Insurance, Tomo is poised to become one of the most valuable fintech startups of our generation.

Location: New York City (NYC) Office

Schedule: In-office Monday–Wednesday; remote flexibility Thursday–Friday

About the Role

Tomo is expanding our mortgage operations team and seeking an exceptional Underwriting & Credit Policy Director to lead these functions. In this pivotal role, you will oversee a high-performing mortgage underwriting and risk team. You have been instrumental in building the architecture and foundation for multiple high growth mortgage lenders. You revel in both the craft of underwriting and the grind of building and leading. You are a systems thinker who embraces first principles - we have no aloof executives at Tomo, we are all doers and thinkers.

Key Responsibilities

• Leadership & Team Management:

  • Evolve the architecture of our high velocity process driving precision and speed.

  • Foster a culture of accountability, continuous learning, and high performance.

• Underwriting Oversight:

  • Direct the underwriting operations, ensuring loan decisions are made in accordance with agency guidelines (FNMA, FHLMC, FHA, VA), investor overlays, and Tomo's internal credit policies.

  • Maintain high standards of accuracy, completeness, and sound risk assessment.

  • Continue to develop a team of excellent leaders

• Credit Risk Management:

  • Evaluate and approve complex loan files, including those with layered risk, non-standard income documentation, and non-QM transactions.

  • Establish and enforce credit risk tolerance levels in alignment with company objectives.

• Policy & Compliance:

  • Ensure full compliance with federal and state regulations, including RESPA, TILA, ECOA, and Fair Lending requirements.

  • Maintain up-to-date knowledge of agency and investor guideline changes and disseminate updates across the underwriting team.

• Collaboration & Communication:

  • Partner closely with Processing, Closing, Secondary Markets, and Sales leadership to resolve pipeline issues, provide underwriting guidance, and ensure smooth loan flow from application to close.

• Process Improvement:

  • Identify and implement workflow enhancements to increase underwriting efficiency, reduce turn times, and improve decision consistency.

  • Champion adoption of technology and automation tools to support scalable growth.

• Quality Assurance & Performance Management:

  • Establish and monitor KPIs including turn time, approval rates, suspense/decline rates, and post-close audit results.

  • Conduct regular file audits and provide targeted coaching to maintain quality benchmarks.

• Training & Development:

  • Design and deliver ongoing training programs covering underwriting guidelines, credit analysis, documentation requirements, and regulatory updates.

  • Build a strong pipeline of underwriting talent.

• Investor & Agency Relations:

  • Maintain productive relationships with agency representatives and investors.

  • Manage guideline exception requests and respond to audit findings, repurchase demands, or early payment defaults in a timely manner.

Required Skills & Qualifications

• Underwriting Expertise:

  • Deep, comprehensive knowledge of conventional, FHA, VA, USDA, and Non-QM underwriting guidelines, with experience underwriting complex transactions including self-employed borrowers, investment properties, and jumbo loans.

• Leadership:

  • Proven track record of leading and growing underwriting teams, with the ability to set clear expectations, provide meaningful feedback, and inspire a culture of excellence and accountability.

• Credit & Risk Analysis:

  • Strong analytical skills with the ability to evaluate complex financial profiles, assess layered risk, and make sound, defensible credit decisions aligned with policy and market conditions.

• Communication:

  • Excellent written and verbal communication skills with the ability to convey complex underwriting decisions clearly to processors, loan officers, borrowers, and senior leadership.

• Regulatory Knowledge:

  • Thorough understanding of applicable federal and state mortgage regulations including Fair Lending, RESPA, TILA, ECOA, and all relevant agency guidelines.

• Detail Orientation:

  • Exceptional attention to detail with a commitment to decision accuracy, documentation integrity, and consistent policy application.

• Technology Savvy & Future State Thinking:

  • Proficiency in leveraging underwriting technology platforms and a forward-thinking mindset toward automation, AI-assisted decisioning, and process innovation.

Preferred Qualifications

• Bachelor's Degree in Finance, Business, or a related field

• 10+ years of mortgage underwriting experience, with significant focus on purchase transactions

• 7+ years of experience managing or directing a mortgage underwriting team

• DE (Direct Endorsement) and SAR (Supervised Automatic Reviewer) certifications strongly preferred

• Ability to obtain and maintain NMLS registration

• Experience with Byte Pro, Encompass, or comparable LOS platforms

• Knowledge of Non-QM, jumbo, and broker transaction underwriting

• Experience responding to investor repurchase demands and agency audits

Employee Benefits

We strive to anticipate your needs in order for you to be a healthy, motivated, and happy team member. We provide a variety of competitive benefits including (but not limited to):

• Equity Ownership: All teammates receive stock options—we win together

• Comprehensive Medical, Dental, and Vision plans for you and your dependents with some plans 100% covered

• Work-life balance and a generous paid time off policy

• In order to support teammates who become parents, Tomo Mortgage provides paid parental leave

• 401(k) retirement plan