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Location: Bangalore, KA, India
Job ID: 1001495
The role of the Pre-Purchase Reviewer is to review the closed loan file documents and ensure that the loan closed according to the approval, meets all federal, state, local and investor requirements and that the data in the LOS matches the data in the mortgage loan documents. The position requires a thorough understanding and familiarity of both credit and closing documents.
JOB FUNCTIONS AND RESPONSIBILITIES:
The Pre-Purchase Reviewer will be responsible to review the closed loan submitted for purchase. The job responsibilities include but are not limited to the following:
• Review the loan documents using the Pre-Purchase Review checklist for completeness and accuracy
• Strong knowledge of ATR/QM, RESPA, TRID and mortgage compliance regulations
• Review all loan types including Conventional, FHA and VA
• Add suspense conditions in a clear concise manner in LOS for any deficiencies noted as part of the above review
• Enter and/or update delivery data in LOS
• General knowledge of Fannie Mae, Freddie Mac, FHA and VA guidelines a plus
• Detail oriented
• Adhere to strict timelines prescribed by the Management and provide the review response in the desired timeframe
• Flexibility to work in Night Shift (if needed) or change the shift at minimum notice
• Excellent written and verbal communication skills
• Should have good comprehension skills and ensure all changes and updates are immediately adopted
• Experience working in a production environment preferred.
EDUCATION / EXPERIENCE
• Minimum high school degree
• 2+ years of experience in US Residential Mortgage Originations Closing
TRAINING / LICENSING REQUIREMENTS (only add if needed)