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Quality Assurance Underwriter

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Description

Summary

This position is responsible for a variety of quality control functions to ensure we are in compliance with regulatory and investor underwriting and servicing requirements and guidelines. Incumbent will perform monitoring, testing and reporting on various functions within the Loss Mitigation department. Incumbent will be responsible for ensuring all time frames are met and document findings. As this work is highly variable based upon regulatory and investor changes, this individual should expect to take on additional tasks related audits, and Loss Mitigation functions as appropriate.

Essential Job Functions:

  • Perform a QA review of incomplete packages and missing item letters for accuracy based on the required doc matrix.
  • Re-Calculate modification principal balance capitalization for approved retention options, taking into account past due interest, escrow, and 3rd party advances.
  • Maintain a balance between company policy and customer benefit in decision making. Handles issues in the best interest of both customer and Freedom Mortgage, offering options and alternatives to best fit the situation.
  • Develop an understanding of loss mitigation options as well as the overall delinquency resolution process.
  • Willing to assume other duties/projects as assigned and manage responsibilities with little to no supervision, ensuring deadlines are met. Handle critical deadlines and projects as assigned by the supervisor.
  • Responsible for completing a secondary review of all documentation in FMC the servicing system, investor/insurer systems ie. SMDU/UI and workout prospector, review accuracy of appropriate letters and/or tasks, as well as verify documentation in EDMS to substantiate the loss mitigation decision made for each account.
  • Complete validation of all loss mitigation files for incoming/outgoing servicing transfers.
  • Review and reconcile all vendor invoices for loss mitigation and IClear errors.
  • Monitor all exceptions for trial and forbearance plans performance, follow up on unsigned agreements.
  • Maintain extensive knowledge of investor, insurer and client guidelines and time frames required for processing a loan workout.
  • Extensive knowledge of investor, insurer workout guidelines and functional knowledge of residential mortgage documents.

Supervisory Responsibilities:

This job has no supervisory responsibilities.


Qualifications:

To perform this job successfully, an individual must be able to perform each essential funtion satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.

Education and/or Experience:

  • Bachelor’s Degree from a Four (4) year College or University
  • One (1) to two (2) years related experience and/or training

Language Skills:

Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or government regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.

Mathematical Skills:

Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

Reasoning Ability:

Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

Certificates, Licenses, Registrations:

None required

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.

Work Environment:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.

Employer’s Rights:

This job description does not list all the duties of the job. You may be asked by your supervisors or managers to perform other duties. You will be evaluated in part based upon your performance of the tasks and functions listed in this job description. The employer has the right to revise this job description at any time. The job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.