Underwriting Guideline Review and Quality Control Manager
Position Description
BACKGROUND:
This individual would sit within the Financial Institutions counterparty team in CRM (Credit Risk Management). Specifically, they will be supporting the Warehouse Lending product. We are looking for a candidate to assist in the review, approval and oversight of warehouse lending counterparties.
RESPONSIBILITIES:
• Review warehouse borrower underwriting guidelines as part of warehouse lending transactions
• Set protective facility conditions related to underwriting guidelines and risk
• Monitor, track and approve changes and amendments made to existing guidelines
• Create and maintain comparables of guideline parameters across counterparties
• Monitor ongoing changes to Qualified Mortgage rules and other regulatory market requirements
• Manage and present the loan level Quality Control review, including:
o Select QC loan samples based on risk parameters
o Liaise with diligence vendor and the client during the review process
o Review vendor findings and work with the warehouse borrower to remediate findings where possible
• Review and approve:
o Investor scorecards
o Wholesale / correspondent on-boarding and approval process
o Warehouse borrower servicer reports
Skills Required
The ideal candidate has a background in consumer/mortgage lending and has experience reviewing underwriting guidelines. The ability to articulate the differences between guidelines and the corresponding risks associated with those differences is imperative to the role. The individual should have experience in reviewing/understanding third party due diligence reports and be able to articulate issues to clients. Candidate may have previously worked in an underwriting capacity, but is now looking for a role with broader scope, counterparty credit analysis and more institutional client interaction.
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