Yuki Armstrong Delacroix — Mortgage Underwriting Director, Private Client

Yuki runs a private-client underwriting team at a bank that specializes in mortgages for high-compensation tech employees. Her borrower profile is consistent: base salary of $180k to $400k, total compensation two to four times that, most of the excess in RSUs that vest quarterly, and a desire to buy a $2M to $6M home. Traditional agency underwriting ignores most of the RSU income, so her team runs a different playbook built around documented vesting history and projected future vests.

The file she underwrites repeatedly is the borrower whose 1003 looks thin and whose reality is not. A principal engineer has $240k base, $520k of RSUs that vested in the prior 12 months, and another $2.1M scheduled to vest across the next 36 months per the grant agreements. Fannie guidance allows a two-year average of RSU income only if there is documentable continuation, which Yuki builds out of current-year paystubs, the employee portal grant statements, and an employer verification letter. That qualifies the client at roughly $630k of usable income rather than the $240k a vanilla underwriter would take. She also runs asset-depletion calculations for pre-IPO clients whose income is modest but whose vested-in-money private stock runs into the low eight figures.

She reviews content on mortgage qualification, RSU income documentation, and the private-bank alternatives to agency lending.