Coordinate the monthly quality control audits that are outsourced to a third party vendor on loans originated for Fannie Mae, Freddie Mac, FHA, VA and other investors.
Complete a minimum of 10% review of the vendor’s work to ensure they are meeting the standards described in the contract.
Preform the monthly quality control audits of a minimum 10% of the loans originated for the Bank’s portfolio. You should evaluate the thoroughness of the customer information gathering process, the underwriting process, approval authorities, product appropriateness and regulatory compliance.
Complete weekly pre-funding application review for underwriting conditions and conformance with investor guidelines.
Track monthly findings trends to identify deficiencies in origination, processing, underwriting or closing processes; develop final reports for executive management.
On a quarterly basis, coordinate the Consumer quality control audits with a third party vendor. Report the findings, including the responses, to executive management.
Stay current on the latest industry trends and attend training courses or seminars deemed appropriate by supervisor.
Serves as point person for mortgage quality and fraud related matters.
Evaluate and adapt to changing regulatory issues as they arise to ensure Univest’s compliance with such laws.
Responsible for compliance with laws and regulations that apply to this position, including the Univest Code of Conduct.
Assist the Operational Risk Management team to conduct branch audits of all Univest financial service centers.
All other duties as assigned.
A bachelor’s degree in a related field; or equivalent training/experience.
FHA DE and VA LAPP credentials preferred, but not required.
Minimum 5-7 years of Underwriting or Processing experience required (preferably within a regulated banking institution), with demonstrated ability to impact change in Processing and Closing functions.
Understanding and working knowledge of bank loan products, services, operations and regulations, including the BSA/AML; Fair Housing Act; Equal Credit Opportunity Act; Fair Credit Reporting Act/FACT Act; Home Mortgage Disclosure Act; Privacy; Real Estate Settlement Procedures Act; and Truth in Lending Act.
Experience with and working knowledge of investor requirements and guidelines.
Strong verbal, written and interpersonal communication skills.
Must demonstrate sound judgment (common sense) in making decisions while balancing investor requirements with the Bank’s risk profile.
Must be well organized with the ability to work independently, and as part of a team.