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Form of workJob Description
Summary:
This position will ensure FirstBank employees are adhering to all underwriting policies in regard to our credit risks by documenting any significant trends or climate changes to our business. The Quality Review Specialist will work closely with all Lines of Business of First Bank Mortgage and our business partners. Primarily will conduct pre-funding reviews of all types of residential loans (Conventional, FHA & VA) in accordance with the bank’s Quality Assurance program and accepted agency Quality Control standards. Responsible for ensuring that the loans are of investment quality, were processed and underwritten according to FirstBank’s policy as well as secondary market, investor guidelines, and will comply with all applicable federal and state laws / regulations.
Essential Duties and Responsibilities include the following:
- Complete a thorough review of the underwriting, credit and closing files according to FirstBank’s QC checklist.
- Assist with collection of data for deficiencies needed to clear any discrepancies.
- Assist team with uploads to outside QC Vendors, i.e., FHLMC, FNMA, MI companies and investors
- Perform risk analysis and make decision regarding deficiencies identified during the review process.
- Review and analyze mortgage applications, credit reports, appraisal, income and asset documents to determine accuracy and completeness per guideline requirements.
- Perform a data integrity review for loans underwritten with DU or other automated underwriting systems.
- Analyze data to detect deficient controls, identify transaction components that indicate a potential for fraud (or material misrepresentation) and perform sufficient investigative work to confirm or disprove issues that are identified.
- Ability to read, analyze and interpret financial reports and/or legal documents.
Qualifications:
Education and/or Experience:
- College degree preferred- or equivalent work experience in the financial industry
- 5+ years Mortgage Experience Required-DE and VA designation desirable
- Working knowledge of various consumer compliance regulations
