Senior Quality Control Underwriter

National Mortgage Insurance Corporation•Emeryville, CA

5d•Remote

About The Position

The Senior Quality Control (QC) Underwriter re-underwrites and re-verifies simple to complex mortgage loans from all origination channels to determine compliance with GSE and National MI (NMI) underwriting guidelines and NMI post-close review tolerances; prepares detailed finding descriptions to share with origination lenders; and reviews rescission rebuttals to determine outcomes and write assessments.

Requirements

Bachelor’s degree or the equivalent work experience in mortgage operations.
Minimum of 5 years of mortgage underwriting experience required.
Excellent written and verbal communications and presentation skills required.
Ability to understand and interpret Fannie Mae and Freddie Mac requirements, and Desktop Underwriter and Loan Product Advisor findings.
Ability to learn National MI’s QC system, and origination and document imaging systems.
Highly proficient in MS Office Suite.
Strong customer service skills and values.
Ability to define problems, collect data, establish facts, and draw valid conclusions.
Excellent attention to detail.
Ability to interpret a variety of technical instructions and diagrams, forms and deal with abstract and concrete variables.
Works ethically and with integrity supporting organizational goals and values.
Completes work in a timely manner and meets deadlines.
Maintains confidentiality of information and uses information appropriately.
Contributes to building a positive team spirit and treats others with respect.

Nice To Haves

Forensic Audit review experience highly preferred.
MI risk experience review experience preferred.

Responsibilities

Re-underwrites and reverifies loans and grades individual components of the underwriting and the file overall; and considering the outcome of the review, applicable rescission relief principles, validation status, payment history and other factors; determines rescission relief (and rescission) implications and assigns responsibility for each finding and determines if rescission is appropriate.
Writes a detailed summary of the findings (incorporating the rescission relief implications) that is suitable for presentation to the senior management of lender customers and NMI.
Accurately reviews and analyzes income and asset documentation, credit reports, appraisals, and supporting loan documentation.
Calculates credit variables (i.e., DTI and LTV ratios) and other components of the underwriting decision.
Conducts re-verifications and/or investigations of income, employment, assets, credit and occupancy.
Identifies red flags and suspicious characteristics to determine risk and quality of loan for insurance.
Identifies quality trends and underlying causes leading to QC findings and recommends parties to the transaction for targeted audits and addition to the Watchlist.
Communicates directly with internal and external stakeholders to gather information needed for proper evaluations, and to provide audit findings.
Provides constructive feedback and suggestions to QC management to assist operations with development of remediation plans.
Utilizes the QC audit system to conduct audits and track results.
Provides ad hoc assistance, as needed.