In this role, you will:
- Perform in-depth review of mortgage loan file including Credit, Capacity, Capital and Collateral documents
- Detailed review of Credit related documents such as Credit Report fromExperian/Transunion/Equifax,Credit Supplements, Mortgage Statement, and Letter of Explanation etc.
- Detailed review of Capacity related documents such as Paystub, W2, VOE, Award letters and Bank Statements etc.
- Detailed review of Capital related documents such as Bank Statements, Gift letter, Stocks and Bonds etc.
- Detailed review of Collateral related documents such as Property Appraisal Report, Flood Report, and Purchase Agreement etc.
- Recommend borrower’s eligibility in accordance with internal policies and procedures, agency guidelines and overlays utilizing Automated Underwriting System (AUS)
- Ability to identify potential red flags relating to customer information, income, assets, property, all parties to the transaction, etc.
- Analyze risks and offsets related to performing in-depth, prefund loan reviews. Present recommendations for resolving various issues related to reviews and loan files
- Utilize current knowledge of credit policy guidelines and procedures, use available tools and resources to recommend credit decision
- Ability to clearly document the loan rationale findings in loan notes
- Reviewstipulations/conditionsfor compliance and completion of loan file specific to the borrower profile, loan program and product
- Receive direction from more experienced managers and exercise judgment on relevant reviews within rules and regulations while developing an understanding of internal company requirements
- Provide communication regarding overall process and transaction quality to appropriate parties
- Research, review, document, and present findings related to issues, records, policies, and procedures for which answers can be quickly obtained
- Receive direction from supervisors and exercise judgment within defined parameters while developing understanding of function, policies, procedures, records, and other business information
- Collaborate and consult with peers, colleagues, and managers to implement actions in support of risk-mitigation and control initiatives
Required Qualifications:
- 6+ months of risk management, business controls, quality assurance, business operations, compliance, or process experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.
Desired Qualifications:
- Basic Microsoft Office skills
- Excellent verbal, written, and interpersonal communication skills
- Strong analytical skills with high attention to detail and accuracy
- Ability to take initiative and drive for results with minimal supervision
- Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex fast paced environment
- 3 to 6 years of US residential mortgage processing and underwriting experience with experience in income calculation, credit and assets review
- Working knowledge on Agency / Conventional loan Underwriting for primary residence (Purchase and Refinance)
- Graduate incommerce/finance/managementstream
Job Expectations:
- The candidate must be willing to work within US hours typically between 6:30 PM to 3:30 AM Indian Standard Time for initial 6 months (and as business requires) and 1:30 PM to 10:30 PM Indian Standard Time after 6 months
27 Feb 2025
Wells Fargo Recruitment and Hiring Requirements:
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.