KeyBank Mortgage QC Analyst II in Buffalo, New York
Mortgage QC Analyst IIinBuffalo, NYatKey Bank- Corporate
Date Posted: 2/12/2020
Employee Type: Full-Time
Location: 4224 Ridge Lea Road Buffalo, NY
Job Type: Admin - Clerical
Experience: Not Specified
Date Posted: 2/12/2020
Evaluate creditworthiness of borrowers and to idenifty errors. This includes but is not limited to the review of paystubs, W2 s, financial statements, tax returns, asset statements, bank account statements, credit reports etc.
Must ensure all loans meet or exceed corporate credit policy and be in compliance with the Ability to Repay (ATR) and Qualified Mortgage provisions of the Dodd-Frank Act.
Ensure compliance with appropriate company and Agency/Investor/FHA/VA guidelines.
Review transmittal & 1003 to make sure it is accurate and complete and matches the final AUS findings
Review credit report and compare to liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed.
Calculate income/self-employed cash flow using documentation and methodology required per investor, and CFPB regulations. Analyze the business s financial strength by examining annual earnings to determine stability and validity. Income must be verifiable, stable and ongoing.
Review assets to ensure adequate funds to close and required reserves. Ability to analyze bank statements for any recent large deposits and possible other debts that might impact ATR.
Review appraisal to ensure the report is accurate, complete and the value is supported and the collateral is acceptable. Recognize when additional field reviews may be necessary to support value
Ability to review Condo/PUD projects to ensure they meet salable or non warrantable guidelines
Review file to make sure state regulatory guidelines have been met and federal (patriot act)
Calculate net tangible benefit for those states that require this test
Ensure all tax, title, insurance and closing conditions is accurate and complete
Verify that the rate lock matches the underwriting file with the correct program, LTV, credit score and pre-payment penalty
Perform tracking of all loan reviews by utilizing QC database and effectively communicating the results with the area of responbility.
Review a minimum number of files per month as determined by management which would include new loan reviews, documentation to cure any defect found on initial review.
Maintain current and fluid knowledge of investor and agency guidelines and adapt to changes quickly
Communicate effectively and engage proactively with mortgage underwriters, processors and team leaders of any findings noted in the QC review
Perform other related duties and special projects as required by management
Demonstrate exceptional service philosophy in all interactions with internal peers and partners
Bachelor s Degree or equivalent work experience
5+ years of recent Mortgage Underwriting Experience (FHA, VA and Conventional) with strong agency guideline knowledge
DE, SAR and LAPP certifications ; experience is a plus
Strong working knowledge of ATR/QM Requirements
Working knowledge of ACES QC database is a plus
Working knowledge of Empower LOS is a plus
Strong analytical skills; accuracy, consistency and completeness is critical
Ability to work in a fast paced, fluid environment and be held to meet minimum production standards
High integrity and outstanding work ethic
Strong computer skills; proficient in Microsoft Word, Excel and Outlook
Must have proficient written and verbal communication skills
Proven knowledge of compliance and disclosure requirements
FLSA STATUS: Non-Exempt
KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.