
Mortgage Expert
1 day ago
Job Overview:
Loan ReviewerThe Loan Reviewer plays a crucial role in ensuring the accuracy and compliance of loan files.
Key Responsibilities:
- Review loan applications to identify potential issues and ensure they meet investor guidelines.
- Analyze property appraisals to verify if the value is supported and the property meets all eligibility requirements.
- Verify borrower income sources as needed.
- Evaluate borrower debt load and calculate debt-to-income ratio.
- Determine whether loan elements meet investor guidelines.
- Identify and document defects during Quality Control review.
- Enter loan data into the Quality Control system.
- Review closing documents and disclosures on all loan files.
- Verify the accuracy of Note, Mortgage, and Assignment.
- Ensure presence of legal documents.
- Perform High Cost, APR, Amount Financed, and State Predatory tests in Compliance Review system.
- Comment on loan inaccuracies, deficiencies, and missing items.
- Assign loan-level defects based on severity and type.
Requirements:
- Minimum 1-5 years' experience in mortgage underwriting, processing, and/or quality control.
- Knowledge of Fannie Mae, Freddie Mac, FHA, and VA lending required.
- Bachelor's degree in business or related field; or equivalent work experience.
Compliance knowledge such as TRID is highly desirable.
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