Job Details
Job Location: MN - New Brighton, MN
Position Type: Full Time
Salary Range: Undisclosed
Job Shift: Day
Description
Professional and administrative work primarily involving performing post-closing and pre-funding quality control reviews to ensure compliance with all investor/agency guidelines, state and federal requirements, as well as lender-specific and client-specific overlays. Responsible for completing full file reviews including timely ordering of credit, income, asset, and additional reverifications, as required.
ESSENTIAL RESPONSIBILITIES & DUTIES:
Level I
- Supports the origination team by providing accurate, concise, and constructive audit exception details.
- Works with the quality control team to complete all required audit tasks for each workgroup in a timely fashion.
- Follows QC policies and procedures to ensure compliance with scopes of work.
- Incorporates feedback and new regulatory training into upcoming audits effectively.
- Reviews employment and asset documentation for completeness and accuracy per investor requirements on each review.
- Recalculates income, ratios, and asset figures.
- Reviews credit reports and recalculates liabilities.
- Performs desk reviews of appraisals.
- Analyzes individual loan files for compliance with Federal and State Regulations, lender conditions, and investor guidelines.
- Validates data integrity of loan documentation.
- Identifies all red flags within a loan file and ensures they are addressed accordingly.
- Escalates evidence of fraud and/or misrepresentation to management immediately.
Level II (all above plus)
- Successfully completes denied/cancelled/withdrawn reviews.
- Successfully completes early payment default reviews.
- Able to monitor and assist with production management.
OTHER DUTIES, KNOWLEDGE, SKILLS, ABILITIES:
Required:
- Knowledge of policies, principles, and practices of mortgage loan origination, processing, underwriting, and closing/funding.
- Familiarity with mortgage loan documentation.
- Ability to multitask between analytical projects and adapts to modification of the work flow.
- Demonstrates acceptable production and quality rating metrics.
- Experience with automated underwriting systems (such as DU, LP or GUS).
- Experience calculating underwriting ratios and income (DTI, LTV, CLTV).
- Familiarity with federal, state, and investor/agency requirements regarding mortgage origination.
- Basic proficiency in MS Word and MS Excel.
- Strong written and verbal communication skills.
- Excellent time management skills with an emphasis on quality.
- Works well with others in a team environment as well as independently.
- Strong attention to detail.
General:
- Must work the days and hours necessary to perform all assigned responsibilities and tasks. Must be available during regular business hours to accomplish work and company goals.
- Must maintain courteous, professional and effective working relationships with employees at all levels of the organization, customers, vendors and/or any other representatives of external organizations.
- Communicate information and state problems or challenges to be resolved in a clear, concise, courteous, nondiscriminatory and professional manner, and be able to provide clarification if necessary.
- Must be capable of adapting, with minimal or no advance notice, to changes in how business is conducted, and work is accomplished, with no diminishment in work performance.
- Actively participate in quarterly performance meetings; meet or exceed all performance metrics.
- Follows company policies and procedures.
- Perform other duties as required.
Qualifications
Education: High School Diploma
Experience: 2 years of QC, post-closing, compliance, and/or underwriting experience with FHA, VA, USDA, FNMA, FHLMC, and FHLB guidelines or equivalent knowledge and experience.
Licenses/Certifications: none