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.  

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.