Mortgage Compliance Underwriter – Full Time
Website PHOENIX COLLATERAL ADVISORS, LLC (FLHOME)
Residential mortgage due diligence and quality control company looking for Remote Employees to join its existing team of TRID Compliance / Post-Close Due Diligence Analysts.
Phoenix Collateral Advisors, LLC (PCA) is a Residential Asset Management provider serving the Residential lending and servicing industry. Established in 2005, PCA has developed a platform focused on the diligence, oversight and disposition of mortgage and real estate assets. Our focus is on attaining optimal performance at the individual asset level to help our client partners achieve long term profitability. PCA offers a comprehensive product line including, but not limited to: full credit, compliance and collateral reviews, loss mitigation and loan default oversight, put-back forensics and rebuttals, servicing quality control, REO asset management and surveillance. PCA also offers a wide range of professional services catering to the financial and professional services industry related to quality control and loan file reviews for the mortgage origination and servicing industry.
TRID Compliance and Due Diligence Underwriter
Essential Job Functions
Review loan files for completeness and accuracy to formulate a complete assessment, while applying all client and lender guidelines, in addition to Federal and State regulations.
Forming intelligent decisions to identify deficiencies through a detailed, TRID-focused review of all applicable documentation including required initial disclosures, Loan Estimates, Closing Disclosures, and Changed Circumstances for timing and tolerance variances.
Limited review of credit documents, including, but not limited to loan applications, lender approval, credit and income documentations, title reports, appraisals, and all applicable compliance documents.
Limited evaluation of debt ratio, loan-to-value ratios, credit score, property valuation, and various other factors.
Analyzation of collateral documents.
Accurately input data into the company’s proprietary diligence software system.
Comprehend compliance exceptions and failures identified from third party compliance systems, such as ComplianceEase and Mavent and determine validity of results by comparing analyst input errors versus documentation error.
Achieving productivity standards while efficiently management of time and meeting strict deadlines.
Required Minimum Qualifications
Proficiency in TRID regulatory compliance A MUST, including ability to review and data capture of initial and revised disclosures for timing and tolerance variances.
5+ years of experience in the residential mortgage industry.
Familiarity with best practices for post-close quality control on newly and seasoned originated mortgages.
Determining and documenting loan conditions and communicating requirements and/or decisions.
Proficiency of FNMA/FHLMC guidelines, QM/ATR.
Excellent working knowledge of guidelines and policies for VA, FHA, and USDA programs including upfront MI and monthly premiums in relation to post-close compliance reviews.
Detail-oriented while maintaining production goals and strict deadlines.
Superior verbal and written communication skills.
Experience a plus: Ability to analyze servicing/collection comments and identify risk and possible exit recommendations. Identify the root cause of default resulting from the client’s underlying business practices, underwriting, and/or fraud exposure.
Prolonged periods of sitting at a desk, working on a computer, and being available and responsive via email/phone/messaging.
Required to regularly communicate to superiors, specifically as it relates to work availability, in addition to any questions that arise, or discuss feedback with superior for response.
Must be able to lift up to 15 pounds at times.
If remote contractor (does not apply to full time employee):
Pertinent equipment set-up, including dual monitors, high speed internet, and up-to-date software systems.
Phoenix offers flexibility, training and competitive compensation.
· Successful completion of required knowledge-based assessments for employment consideration.
Job Type: Full-time