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Trovy

Home equity-based credit card with rewards

Mortgage Underwriter

Retail & Commercial BankingUpdated on Nov 14
Full-timeSouth Jordan, UT, USA

About the Job

Requirements

  • At least 5 years of mortgage or home equity underwriting experience, including 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.
  • 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.
  • Ability to make independent decisions, defend them in writing, and know when to escalate.
  • Strong organization and attention to detail, maintaining accurate, well-documented work when volume increases.
  • Clear written and verbal communication, including the ability to explain conditions and decisions in plain language.
  • A process-oriented approach with a bias toward improvement and knowledge of effective credit operations.
  • Comfort working in a startup environment where processes are still being built.

Responsibilities

  • Underwrite HELOC applications from start to final decision, evaluating income, credit, assets, collateral, and title against Trovy’s credit policy.
  • Perform complex income analysis for self-employed borrowers, including Schedule C, Schedule E, K-1s, and business returns (Forms 1120S, 1065, and 1120), using business cash flow analysis consistent with Trovy’s credit policy.
  • Assess business stability and borrowers’ access to business income, including ownership percentage, distributions, liquidity, and year-over-year trends.
  • Calculate and validate employment, rental, investment, and other income types, and verify income through tax transcripts, paystubs, W-2s, and third-party verification tools.
  • Review credit reports, calculate DTI, and evaluate credit history, liabilities, and layered risk factors.
  • Evaluate collateral using AVMs and other valuation tools, and review lien position, title, and property ownership, including trust-held property.
  • Identify red flags and potential fraud, and condition or escalate files appropriately.
  • Document the rationale for every decision, including exceptions and conditions, so files are audit-ready.
  • Communicate conditions and document requests to the operations team and, when needed, to borrowers.
  • Support adverse action processes and ensure decisions comply with ECOA and Reg B, FCRA, and fair lending requirements.
  • Help build Trovy’s underwriting playbook by drafting procedures, income worksheets, and job aids, and flagging policy gaps or inconsistencies.
  • Partner with credit policy, operations, and product teams to improve decisioning workflows, automation, and the applicant experience.
  • Stay current on Trovy’s credit policy, state-specific requirements, and applicable lending regulations.

Desired Qualifications

  • Non-QM or HELOC underwriting experience is a strong plus.

About the Company

Trovy

Home equity-based credit card with rewards

Trovy provides a home equity-backed credit card that lets homeowners access their property value through a consumer lending product. The card offers lower interest rates than many traditional cards and includes built-in flexibility plus a cash-back rewards program on every purchase. Lending is facilitated by Trovy Lending Co. around New York, with a direct-to-consumer model and revenue from interest on carried balances and interchange fees. Compared with typical credit cards, Trovy centers on leveraging home equity to offer more favorable terms and a straightforward credit option for homeowners in the United States. The company’s goal is to give homeowners easier access to credit using the value tied up in their homes, through a specialized credit card product and supporting lending operations.

Company size
11-50
Company stage
Series A
Total funding
$25M
Headquarters
New York City, New York
Founded
2024

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