POSITION SUMMARY: REMOTE OPPORTUNITY
The Audit Resolution Underwriter will be responsible for the coordinated response to external and internal post close audits indicating mortgage loans did not meet required investor’s credit underwriting guidelines. The candidate will weigh all aspects of the individual loan credit risk to ensure loans are originated by third parties to meet secondary market guidelines and requirements and are eligible for purchase or recommend repurchase/mitigation.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
• Analyze loan files received to determine if they are in agreement with credit audit findings based on underwriting knowledge.
• Assess the credit, income, and asset documentation to validate if they meet investor guidelines.
• Review and evaluate appraisals, as needed, to determine if collateral is acceptable per secondary market requirements.
• Clear and respond to conditions in multiple external due diligence systems, in a professional manner and with minimal supervision, whether Bayview is in agreement with the finding or provide additional response in order to resolve.
• Partner directly with the Correspondent to clearly explain the deficiencies found and the appropriate trailing documentation needed to resolve based on credit underwriting knowledge and analysis of file.
• Review documentation provided to ensure all required documents have been provided to clear condition.
• Determine if file was accurately underwritten based on documentation in file and additional information received during course of Audit Resolution Underwriting review.
• Monitor Audit Resolution pipeline and perform regular follow-up with correspondents and due diligence firms to ensure clearing of conditions in timeframe required.
• Recommend loans for repurchase or downgrade with compensating factors if in agreement with findings.
• Prioritize multiple tasks and meet tight deadlines involved in responding to Agencies and publishing final results for sales and securitizations.
• Identify trends in audit findings and recommend potential action plans to Correspondent Underwriting management to be addressed with the Correspondent on a pipeline level.
• Assist the Closed Loan Audit Underwriters during times of high volume by performing pre-purchase reviews and clearing conditions.
• Perform other duties as assigned by management.
• Current conventional underwriting or quality analyst or quality control experience within the last five years is required.
• Current knowledge of FNMA and FHLMC mortgage underwriting guidelines.
• General knowledge of GNMA, FHA, VA, USDA, Non-Agency and Affordable Lending guidelines.
• Nonagency (jumbo), affordable lending and government experience is a plus but not required.
• Ability to analyze information relating to the position.
• Effectively and professionally communicate to others verbally and in writing.
• Proficient with MS Word and Excel. Familiarity with Access is a plus but not required.
• Is attentive to detail while having ability to multi-task and simultaneously manage multiple projects.
• Strong interpersonal skills and an ability to foster internal and external business relationships.
• Works well in a collaborative team environment.
EDUCATION AND EXPERIENCE:
• Minimum 5-10 years’ mortgage underwriting experience.
• Bachelor’s Degree preferred (concentration in Business, Real Estate or Finance) or 5 years’ equivalent years of experience in lieu of degree
CERTIFICATIONS, LICENSES, AND/OR REGISTRATION
• DE preferred, but not required
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.