What are the responsibilities and job description for the Mortgage QC Underwriter position at Canopy Mortgage?
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:
Fair Credit
Flood
HMDA – Reg C
RESPA – Reg X
TILA – Reg Z
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
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
- 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