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VA Underwriter
2 months ago
Description:
To review, analyze, and report on ours risk, quality, service, and controls, to improve operational efficiency and effectiveness, mitigate risk and remediate operational and regulatory vulnerabilities. Conduct quality control reviews of overall loan documentation (application, appraisal, title, credit, loan to value, legal), processes and system to ensure compliance with Investors, federal and state regulatory requirements, industry standards, and operating procedures. Perform in depth and comprehensive gap analyses to determine the root cause of process gaps, investor noncompliance and regulatory compliance failures. Maintain data in the quality control system platform to ensure adherence with regulatory government agencies requirements. Monitor corrective action target dates to ensure prompt remediation and control implementation to comply with regulatory government agencies requirements. Maintain and update quality control procedural manuals, job aides, and tools.
Responsibilities:
- Evaluate underwriting decisions, process adherence, servicing standards, and regulatory requirements of mortgage loan files for compliance with applicable state and federal laws, investor guidelines, guarantor requirements and adherence to specific lender guidelines with an emphasis on buy-back possibilities
- Evaluate and monitor quality of mortgage collateral, documentation for completeness/errors/ omissions and credit quality according to agency and internal guidelines to identify any defects and to limit the risk exposure to our mortgage portfolio
- Perform and validate in-depth and comprehensive gap analyses to determine the root cause of process gaps and regulatory compliance failures
- Review/audit loan documentation, files, and or online transactions individually or in aggregate to determine if processes and documentation are in compliance with internal company requirements, insurer guidelines, investor requirements, and/or government regulations
- Develop solutions for risks and/or problems identified; maintain effective communication with business partners and support teams to identify target remediation dates; assist with implementation of corrective actions
- Optimize the performance of real estate lending operations by analyzing current and anticipating future performance
- Ensure loan quality through data integrity and risk management
- Stay abreast of applicable changes in the mortgage industry, as well as, changing or newly issued investors' servicing guidelines/requirements, federal, state and industry laws and regulations to understand any impacts and/or changes to processes and tasks as directed by management
- Research escalated issues as needed and determine or collaborate with team on resolution recommendations or actions
- Maintain effective communication with other business partners and support teams to remediate errors and assist with implementation of corrective actions related to non-compliance with policies and procedures
- Participate in interdepartmental initiatives/remediation planning in collaboration with business partners while focusing on business risk and impact
- Monitor industry and regulatory related news and developments, analyze the impact of changes to federal and state regulations and makes recommendations for changes to policies, procedures, and practices to ensure compliance
- Assist in ensuring a compliant Quality Control Program
- Adept at recognizing material deficiencies, red flag/ potential misrepresentation and providing feedback through appropriate channels of reporting
- Maintain clear and organized documentation in relation to overall transaction quality and noted deficiencies identified
- Serve as liaison with Internal Audit and Regulatory Compliance to ensure adherence with Enterprise and Compliance Risk Management requirements
- Support mentoring Analysts I and may assist with development of knowledge, skills, and analytical techniques to solve operational issues and support strategic initiatives
Must Have - Skills & Qualifications:
- VA Underwriting Experience
- Quality Control
- Understands Freddie Mac/Fannie Mae Guidelines
- Empower system experience is a plus
- ACES system experience is a plus
- Encompass system experience is a plus
About TEKsystems:
We're partners in transformation. We help clients activate ideas and solutions to take advantage of a new world of opportunity. We are a team of 80,000 strong, working with over 6,000 clients, including 80% of the Fortune 500, across North America, Europe and Asia. As an industry leader in Full-Stack Technology Services, Talent Services, and real-world application, we work with progressive leaders to drive change. That's the power of true partnership. TEKsystems is an Allegis Group company.
The company is an equal opportunity employer and will consider all applications without regards to race, sex, age, color, religion, national origin, veteran status, disability, sexual orientation, gender identity, genetic information or any characteristic protected by law.
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