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Truist Production Risk Monitoring Analyst II United States, North Carolina, Greensboro 835163273
25.09.2024
Regular or Temporary:
English (Required)
1st shift (United States of America)
Please review the following job description:Responsible for independently reviewing and validating Retail and Correspondent residential mortgage loan underwriting decisions for adherence to Mortgage product guidelines.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
1. Perform detailed re-underwriting analysis on Truist Mortgage loan products including calculating all income types (e.g. wage earner, retirement, self-employed, etc.), calculating complex financial analysis as needed, analyzing real estate appraisals to determine if collateral is acceptable, analyzing title report and lien information, reviewing hazard and flood insurance for adequate coverage, reviewing all financial statements, and reviewing all additional documentation to determine accuracy and compliance with portfolio and investor, FHA, VA, and USDA guidelines. Ensure that all loan files are documented to guidelines for marketability to Fannie Mae, Freddie Mac, including FHA, VA, and USDA to ensure insurability.
2. Evaluate an appraisal report in adherence to Fannie Mae, Freddie Mac, FHA, VA, and USDA guidelines to determine if the opinion of value stated by the appraiser was supported with the comparable data provided, review for completeness, health and safety issues, as well as external obsolescence.
3. Determine credit worthiness of a borrower to include knowing how to read a credit report, identify fraud red flags and question items that are suspicious in nature that may result in unnecessary risk and fines to Truist and recalculate liabilities.
4. Review the rationale of the loan approval and the quantitative and qualitative factors used to justify the approval.
5. Clearly document, in an understandable, concise and consistent manner, detailed findings of review performed.
6. Develop and maintain a strong understanding of All Mortgage products including but not limited to Government-Sponsored Enterprise (GSE), Federal Housing Administration (FHA), Veterans Affairs (VA), United States Department of Agriculture (USDA) and portfolio products, policies, processes that support Truist, Investor/Insurer requirements.
7. Ensure proper safeguarding of confidential and proprietary information of consumers and other protected information under the Company's Information Security Policy.
8. Identify all red flags to ensure they are addressed accordingly and escalate files for fraud review.
9. Assist with the development and updating of departmental procedures.
10. Participate in training relating to the job and any other training programs as required.
2. Evaluate an appraisal report in adherence to Fannie Mae, Freddie Mac, FHA, VA, and USDA guidelines to determine if the opinion of value stated by the appraiser was supported with the comparable data provided, review for completeness, health and safety issues, as well as external obsolescence.
3. Determine credit worthiness of a borrower to include knowing how to read a credit report, identify fraud red flags and question items that are suspicious in nature that may result in unnecessary risk and fines to Truist and recalculate liabilities.
4. Review the rationale of the loan approval and the quantitative and qualitative factors used to justify the approval.
5. Clearly document, in an understandable, concise and consistent manner, detailed findings of review performed.
6. Develop and maintain a strong understanding of All Mortgage products including but not limited to Government-Sponsored Enterprise (GSE), Federal Housing Administration (FHA), Veterans Affairs (VA), United States Department of Agriculture (USDA) and portfolio products, policies, processes that support Truist, Investor/Insurer requirements.
7. Ensure proper safeguarding of confidential and proprietary information of consumers and other protected information under the Company's Information Security Policy.
8. Identify all red flags to ensure they are addressed accordingly and escalate files for fraud review.
9. Assist with the development and updating of departmental procedures.
10. Participate in training relating to the job and any other training programs as required.
QUALIFICATIONS
Required Qualifications:
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.
1. Ten years of mortgage banking experience in production quality assurance, quality control, mortgage underwriting or similar experience.
2. Seven years of residential mortgage underwriting loan experience.
3. Bachelor's degree or equivalent education and related training.
4. Extensive knowledge of all conventional and governmental underwriting guidelines including Fannie Mae/Freddie Mac/FHA/VA/USDA lending guidelines and quality control requirements.
5. Expertise of FHA Total Scorecard, Desktop Underwriter, Loan Product Advisor, Guaranteed Underwriting System and manual underwriting.
6. Ability to underwrite complex credit requests to include analysis of self-employed borrower with multiple business entities.
7. Exceptional attention to detail to produce high-quality work.
8. Ability to multi-task in fast paced environment.
9. Ability to work with minimal supervision while completing workloads.
10. Proficient computer skills (i.e., Microsoft Word, Excel, Outlook, SharePoint etc.).
Required Qualifications:
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.
1. Ten years of mortgage banking experience in production quality assurance, quality control, mortgage underwriting or similar experience.
2. Seven years of residential mortgage underwriting loan experience.
3. Bachelor's degree or equivalent education and related training.
4. Extensive knowledge of all conventional and governmental underwriting guidelines including Fannie Mae/Freddie Mac/FHA/VA/USDA lending guidelines and quality control requirements.
5. Expertise of FHA Total Scorecard, Desktop Underwriter, Loan Product Advisor, Guaranteed Underwriting System and manual underwriting.
6. Ability to underwrite complex credit requests to include analysis of self-employed borrower with multiple business entities.
7. Exceptional attention to detail to produce high-quality work.
8. Ability to multi-task in fast paced environment.
9. Ability to work with minimal supervision while completing workloads.
10. Proficient computer skills (i.e., Microsoft Word, Excel, Outlook, SharePoint etc.).
Preferred Qualifications:
1. Strong knowledge of mortgage loan origination systems and overall mortgage production processes (e.g. origination, processing, underwriting, closing, and government insuring).
2. Direct Endorsement (DE) Underwriter Certification.
3. Veterans Affairs Staff Appraisal Reviewer (VA SAR).
1. Strong knowledge of mortgage loan origination systems and overall mortgage production processes (e.g. origination, processing, underwriting, closing, and government insuring).
2. Direct Endorsement (DE) Underwriter Certification.
3. Veterans Affairs Staff Appraisal Reviewer (VA SAR).
OTHER JOB REQUIREMENTS / WORKING CONDITIONS
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