POSITION SUMMARY: REMOTE OPPORTUNITY
THE CLOSED LOAN UNDERWRITING AUDITOR IS RESPONSIBLE FOR REVIEWING CLOSED LOAN FILES AGAINST THE INVESTOR GUIDELINES AND BAYVIEW/LAKEVIEW OVERLAYS PRIOR TO PURCHASE BY BAYVIEW/LAKEVIEW LOAN SERVICING, LLC. THE PURPOSE OF THIS REVIEW IS TO DETERMINE WHETHER THE MORTGAGE LOAN WAS ORIGINATED IN COMPLIANCE WITH APPLICABLE UNDERWRITING STANDARDS AND MEETS INVESTOR, AGENCY AND REGULATORY GUIDELINES. THE IDEAL CANDIDATE WILL POSSESS A SOLID TRACK RECORD OF UNDERWRITING JUMBO AND CONFORMING CONVENTIONAL LOAN FILES. PREVIOUS DUE DILIGENCE EXPERIENCE IS PREFERRED.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
• Compare the closed loan file documentation to agency and internal guidelines.
• Re-calculate the LTV/CLTV, income, liabilities and debt-to-income ratio and ensure matches to the documentation in file and meets all underwriting/credit requirements.
• Analyze asset statements and confirm the funds to close and reserves meet agency and internal guidelines.
• Confirm credit scores (FICO) and credit histories meet agency and internal guidelines.
• Confirm correspondent has documented borrower’s willingness and ability to repay the obligation.
• Review title binder/final title policy to no hindrance to lien position and all insurance binders to ensure accuracy and sufficient coverage.
• Review appraisal to confirm value matches to file documentation, meets agency and internal guidelines and exhibits no health or safety concerns.
• Review fraud report and address any high risk items, including escalation to Fraud Review team if misrepresentation is suspected.
• Perform clear and accurate conditioning of the loan file and clear conditions as they are submitted, meeting service level agreements.
• Maintain knowledge of all application underwriting/industry guidelines.
• Maintain an acceptable quality rating.
• Performs related work as assigned by department head.
• Able to identify fraud and layered risk.
• Able to effectively and professionally communicate to others verbally and in writing.
• Is attentive to detail and thorough.
• General knowledge of FNMA, FHLMC, GNMA, FHA, VA, USDA.
• Problem solving and decision making skills.
• The ability to work well in a collaborative team environment
• Ability to manage to deadlines.
• General computer knowledge, including familiarity with Microsoft Office applications. Familiarity with various mortgage loan originations/operations systems.
EDUCATION AND EXPERIENCE:
• Knowledge of FNMA, FHLMC, GNMA and FHA underwriting guidelines. Knowledge of federal and state compliance regulations.
• Bachelor’s degree preferred
• Minimum 5 years of full-time experience in residential Underwriting or QA/QC.
CERTIFICATIONS, LICENSES, AND/OR REGISTRATION:
PHYSICAL DEMANDS AND WORK ENVIRONMENT:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit and use hands to handle, touch or feel objects, tools, or controls. The employee frequently is required to talk and hear. The noise level in the work environment is usually moderate. The employee is occasionally required to stand; walk; reach with hands and arms. The employee is rarely required to stoop, kneel, crouch, or crawl. The employee must regularly lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, color vision, and the ability to adjust focus.
Bayview is an Equal Employment Opportunity employer. All aspects of consideration for employment and employment with the Company are governed on the basis of merit, competence and qualifications without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, or any other category protected by federal, state, or local law.
Loan To Value Ratios
Complex Problem Solving