Job Description

OVERVIEW: The scope of the audits will vary but include Target, EPD, Denied and Discretionary audits. Responsibilities include reviewing mortgage loans at post-closing stage for adherence to company standards, agency guidelines and regulatory compliance laws.

JOB DUTIES:

THE LOAN AUDITOR WILL WORK ON DIFFERENT AUDITS AS ASSIGNED WHICH MAY INCLUDE :

• Documentation Review - Review of the entire loan file to determine whether all items requiring documentation have been properly recorded and are retained in file.
• Process/ LOS Review - Review the completeness and accuracy of the information obtained in the mortgage origination process including, evidence that all copies of the AUS assessment are included in the file; . compare the information contained in the file against the information provided to the Automated Underwriting system.
• Underwriting Review - Review the mortgage file documents, including any re-verifications, to confirm that the file was properly underwritten based on best practices and sound underwriting judgment, including recalculating debt ratios, a credit analysis and verification of compliance with program and agency guidelines, source of funds and income documentation and confirmation that underwriting conditions were met.
• Closing and Legal Documentation - Review of closing and legal documents to ensure that the mortgage file information is complete, accurate and consistent with other documents in the mortgage file; verify that the loan was closed and funded in accordance with the underwriting and closing instructions.
• Compliance - Ensure compliance with RESPA regulations, including but not limited to, reviewing the loan documentation for the presence and timeliness of the Transfer of Servicing Disclosure and Good Faith Estimate (LE); and that initial disclosure documentation was provided.

JOB REQUIREMENTS:

Minimum of 5 years of underwriting  or quality control experience in the mortgage lending;

· Familiar with Desktop Underwriter, Collateral Underwriter, Loan Prospector, and TOTAL Scorecard;

· Able to calculate income and assets and reconcile credit information in accordance with investor requirements and industry standards;

· Knowledge of Conventional (FNMA/FHMLC) FHA and VA guidelines

· Proficiency with Microsoft Office.

· Strong research and computer skills;

· Working knowledge of Federal and State laws applicable to mortgage banking;

· Strong reasoning, problem solving and critical thinking skills;

· Ability to pay significant attention to details;

· QC/QA experience preferred.

Company Description

InterSearch Associates provides recruitment and staffing services. Our client companies are employers with a demonstrated and consistent record of growth and awesome work environments! We select our clients!