Mortgage qc underwriter

Position Overview:

Perform quality control reviews of mortgage loan files for adherence to specific lender guidelines with an emphasis on pre and post-closing audits, compliance. Reviews include identifying potential fraud and/or misrepresentation, processing / underwriting deficiencies, compliance violations, and/or applicable scope specific opportunities.

Requirements Essential Job Functions:

• Review and provide Quality Control feedback on loan file reviews completed by internal staff
• Pre-Closing Reviews
• Confirm loan product is compliance with program guidelines and borrower eligibility
• Review employment documentation and re-calculate income documentation
• Review and recalculate asset and reserve documentation
• Review credit report and re-calculate liabilities
• Review title commitments, hazard and flood insurance
• Review and analyze borrower’s mortgage applications and related documents
• Review and analyze real estate purchase contracts, if applicable
• Perform Appraisal Reviews for completeness, health and safety issues, and external obsolescence
• Identify all red flags within a loan file and ensure they are addressed accordingly
• Determine proper designation for title, title services and all other shop-able fees
• Compare fee payee names listed on Final Settlement Statement to invoices or other docs in file to validate accuracy of information
• Compare Specific Closing Instructions for accuracy (fees and amounts)
• Compare Specific Closing Instructions for (loan terms, principal and interest, escrow information).
• Post-Closing Reviews
• Review final closing documents to ensure adherence with applicable law
• Validate compliance with state specific Non-borrowing spouse signing requirements.
• On NORTC eligible loans, verify compliance with Notice of Right to Cancel requirements of RESPA
• Confirm all documents and pre-funding conditions pertaining Title, Trusts and POAs have been satisfied
• Compliance Reviews - analyze individual loan files and determine compliance with applicable lender guidelines and/or loan approval
• ECOA – Reg B
• Fair Credit
• Flood
• HMDA – Reg C
• RESPA – Reg X
• TILA – Reg Z
• Follow quality control policies and procedures to ensure compliance with scopes of work
• Identify training opportunities pertaining to quality reviews and communicate with Quality Manager to implement such needed sessions

Requirements:

• 3+ years’ Underwriting / QC experience
• Minimum two years’ experience underwriting to FNMA and/or FHLMC guidelines and FHA and/or VA guidelines
• Must have demonstrable, relevant skills and experience in quality control support and practices in the mortgage loan industry (origination and post-closing)
• Demonstrate impeccable written and verbal communication skills
• Excellent time management skills with an emphasis on quality
• Knowledge and understanding of transaction components that indicate a potential for fraud and critical compliance violations
• Should have knowledge in the policies, principles and practices of mortgage loan processing, underwriting, and closing
• Must be self-motivated, creative and able to work in a team environment while thinking independently and sharing knowledge and ideas
• Must be able to multi task between multiple analytical projects and able to adapt to constant modification of the work flow
• Strong computer skills
• Could be in person or remote.