ESSENTIAL DUTIES AND RESPONSIBILITIES
- Complete credit re-underwrite on all loan files pursuant to AUS findings or manual loan approvals.
- Analysis of property appraisal to determine if value is supported and property meets all eligibility requirements.
- Analysis and recalculation as required of all borrower income sources.
- Analysis of borrower’s debt load and calculation of debt to income ratio.
- Make determination that loan elements are acceptable to appropriate investor guidelines.
- Must be able to seek out and identify potential misrepresentation and fraud.
- Identify any potential defect trends noted within a particular QC period or series of periods.
- Interpret the results of any re-verifications received at the time of the QC review and cite defects accordingly.
- Enter defined loan data into Quality Control system.
- Complete review of all closing documents and disclosures on all loans files.
- Analysis of Note, Mortgage, and Assignment with emphasis on accuracy.
- Check file for all legal documents
- Perform appropriate High Cost, APR, Amount Financed, and State Predatory tests in the Compliance Review system.
- Comment on loan inaccuracies, deficiencies, and missing items.
- Assign loan level defects pursuant to the severity and type of deficiency with an emphasis on overall investor and agency risk.
- Performs other duties as required.
EDUCATION AND/OR EXPERIENCE
- Five - 10 years mortgage underwriting/audit experience
- Bachelor’s degree in business, or related field; or equivalent work experience.
KNOWLEDGE AND SKILLS REQUIREMENTS
- Knowledge of Fannie Mae, Freddie Mac, FHA, and VA lending requirements and lending compliance.
- Excellent verbal and written communication skills.
- Sound decision and judgment making skills.
- Ability to read, analyze, and interpret common mortgage and financial documentation.
- Ability to effectively document and explain specific mortgage loan defects in a concise but thorough manner.
- Use of proper grammar and spelling is a must.
- Ability to define problems, collect data, establish facts, and draw valid conclusions.
- Ability to perform self-directed research using agency guidelines, regulatory policies and state level compliance guidelines.
Who We Are
ThoughtFocus is a privately held IT services, software engineering and business process management firm with offices in the US, India and the Philippines. It helps clients in the financial services, manufacturing, education, aerospace and technology industries with their key business and technology challenges. ThoughtFocus brings critical program acceleration to client initiatives while minimizing costs and risks with intellectual capital, technical and process frameworks, operating models and software infrastructure.
We have 1900 + employees globally and is growing rapidly across all its offices. In the US ThoughtFocus has locations in California, New York, New Jersey, Wisconsin, Georgia and Texas. As an organization, ThoughtFocus strives to build lasting relationships. ThoughtFocus was founded in 2004 and continues to be an employee owned company with a minority investment from the Blackstone Group.