Mortgage QC Underwriter

Canopy Mortgage LLC•Lindon, UT

9d•Hybrid

About The Position

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

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

Responsibilities

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