Mortgage QC Underwriter

Canopy Mortgage


Date: 2 weeks ago
City: Remote, Remote
Contract type: Full time
Remote
Description:

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 Desk Reviews to ensure that appraisal accurately reflects the market value, condition, and marketability to confirm adequate collateral for the Mortgage. Review for completeness, health and safety issues, and external obsolescence.
  • Identify all red flags within a loan file and ensure they are addressed accordingly
  • CD Reviews
  • Ensure only Lender required fees are included on the Specific Closing Instructions
  • Determine proper designation for title, title services and all other shop-able fees
  • Compare fee payee names listed on the CD to invoices or other docs in file to validate accuracy of information
  • Review LE and CD for accuracy and compliance (fees, amounts, loan terms, principal and interest, escrow information)
  • Compare fee payee names listed on the HUD-1 to invoices or other docs in file to validate accuracy of information
  • Compare HUD-1 to Specific Closing Instructions for accuracy (fees and amounts)
  • Compare HUD-1 page 3 data to Specific Closing Instructions and Addendum and client GFE Tool for accuracy (fees, amounts, 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
  • Other Ad Hoc Reviews
  • Call Monitoring
  • E-mail / template usage
  • Compliance with Licensure
  • Follow quality control policies and procedures to ensure compliance with scopes of work
  • Support the Unit(s) by providing accurate, concise, and constructive feedback details to Team Managers and responsible team members
  • Identify training opportunities pertaining to quality reviews and communicate with Quality Manager to implement such needed sessions
  • Must be able to fulfill the role of subject matter expert for the team and scope assigned
  • Assist with required and/or identified training needs as it relates to quality control

Requirements:

  • 3+ years’ Pre-Fund and Post-Close QC experience
  • Minimum two years’ experience underwriting to FNMA, FHLMC, FHA, VA and USDA 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

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