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 auditors mortgage loans.
Review, audits, and 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 policy, 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.
Obtain documents required and/or requested for Quality Control audits and/or documents requested from Investors for loans sold service released.
Complete and check all screens in our mortgage system to make sure the data agrees with the documentation uploaded in our system.
Complete the funding screen and enter data required prior to funding.
Check offset tickets, checks, and credits to ensure they balance on all tablefunded loans.
Ability to learn new processes quickly, retain information, and validate received information as applicable.
Ability to understand, apply knowledge, and resolve issues that arise with early check, Truth in Lending, HOEPA checks, etc.
Knowledgeable of mortgage legal documents
Knowledgeable of insurance and real estate taxes
Knowledge of Federal laws and regulations associated with mortgage loans, legal documentation, and investors guidelines
Good organizational and time management skills
Good verbal and written communication skills
Good PC skills
Data Entry Skills (test)
One or more years of experience in reviewing mortgage loan, consumer loan, or real estate loan documentation including legal and compliance documents. This may include mortgage processing experience within a business such as a bank, credit union, legal firm, etc.