Analyzes loan transactions and documentation to determine credit quality and conformance with mortgage secondary market standards. Reviews investor programs and guidelines to provide operating guidelines for successful origination and sale of loans.
Essential duties include but are not limited to the following:
Perform pre-funding quality assurance audits in accordance with KMSI’s Quality Control Plan
Provide notification to management based on results of the reviews of errors, trends and opportunities for additional training
Adjust question sets based on inherent risks to test implemented controls are operating effectively in preventing compliance failures and/or unsalable loans
Keep informed of changes to regulatory requirements associated with maintaining compliant quality control plan, provide suggestions to management on changing requirements per GSE, FHA, or Investor Requirements
Review post-closing audits and provide suggestions and responses from reviews – ensure post-closing audits are being completed by third party vendor in accordance to the KMSI Quality Control Plan
Monitor the FHA Neighborhood Watch report on a monthly basis – perform a full audit on loans showing 60 days delinquent, provide report review to management and evaluate for trends (preventable or otherwise)
Suggest potential overlay requirements or action plans based on results of reviews
Review and respond to investor repurchase demands
Prepare summary reports for Pre-funding, Post-closing, Early Payment Defaults and Investor repurchase requests to be delivered to management monthly.
Keeps informed of trends and development in local market. Stays abreast of changing regulations and investor guidelines.
Clarifies risk by requesting additional information.
The ability to multi-task in a fast paced environment.
Exceptional attention to detail and strong organizational skills.
Excellent written and oral communication skills with the ability to interact with internal operation team members, loan officers and management.
About Key Mortgage
Key Mortgage is a full service mortgage lender known for superior customer service in the purchase mortgage loan business. We consistently rank among the top mortgage companies in the state and have been honored in multiple recent years as the Lender of the Year by Chicago Agent Magazine and the Chicagoland Real Estate Agent base.
Key Mortgage is growing and we’re looking to add mortgage lending operations staff to serve our clients in expanded ways. We’re a family owned company that employs the most advanced technology available to ensure that customers save money and close loans quickly and our experienced staff offer expertise in every area of mortgage lending, serving the lending needs of real estate professionals, builders and individual home buyers.
Minimum of 5 years mortgage underwriting experience required.
High School Diploma or equivalent required.
VA LAPP designation preferred.
DE designation required
Experience with POS approval processes using LP, DO/DU and other AUS
Knowledge of Consumer Financial Protection Bureau regulatory and compliance requirements
Knowledge of FNMA/FHLMC, FHA guidelines and standards; Familiar with IHDA guidelines a plus
Familiarity with industry quality control standards and fraud detection methods
Proficient computer skills including Microsoft Word, Excel and Outlook.
Excellent people skills.
Proficient knowledge of office machines (faxes, computers, printers, adding machines and telephones).
Excellent verbal and written skills required.
We offer the best mortgage tools available on the Internet - easy, convenient, online shopping for the best loan programs and most current rates available, together with the assistance of an experienced live loan officer to guide you through the often difficult and confusing process of choosing and getting the exact loan to meet your specific needs.