Loan Review Specialist I

The purpose of this job is to review the Retail and Wholesale Correspondent closed loan files.  This position is an entry level training position for reviewers with little, if any, formal experience in auditing mortgage loans.

• Conducts post-closing reviews for accuracy and completeness. This includes checking the compliance documents and running system checks for data integrity.
• Ensures loans are closed and funded in accordance with the loan approval, and to ensure that all supporting loan documentation is in the file and properly executed.
• Responsible for clearing all exceptions by oral and written communication to the appropriate parties.
• Ensure compliance with bank and government regulations.
• Ensure compliant with MERS registration compliance.
• Obtain documents required and/or requested for Quality Control audits and/or documents requested from investors for loans sold service released.
• Complete and check our mortgage system to verify the data for the eight (8) critical fields reviewed in audits agree with the documentation uploaded in our system (UPB, Rate, Term, SSN, Borrower(’s) name(s), property address, maturity date, and P&I)
• Enter data required prior to funding and finalize the funding screen.
• Check offset tickets, checks, and credits to ensure they balance to the CD on all table funded loans.
• Remit and insure all government loans within the required 60-day timeframe.
• Perform additional duties as assigned.

• High school diploma or GED
• Minimum of one (1) year of experience in mortgage and/or banking knowledge of loan documentation with emphasis on mortgage real estate
• Ability to learn new processes quickly, retain information, and validate received information as applicable. Able to read, understand, and follow written procedures
• Good organizational and time management skills
• Active listening skills
• Good verbal and written communication skills
• Good PC skills (Excel and Word test required)
• Data entry skills (test required)
• Ability to multitask within several stages of review
• Two (2) years of college education preferred
• Knowledge of insurance and real estate taxes preferred

Physical Requirements/Working Conditions:  Must be able to sit for long periods of time and use computer keyboard and/or mouse, while viewing computer screens.

Note: This is a brief description of this position and is not limited to those described herein. Management retains the right to add, delete or modify any of these responsibilities at any time during employment.