Team Lead - Consumer Underwriting - 0900037296

JOB DESCRIPTION

Description

Reports to Investor Audit - Outbound Underwriting/Compliance Manager - This is Not a Front End, Credit Decisioning Underwriting Position.



Basic Requirements:

-Responsible for underwriting reviews of risk based mortgage loans (conforming, jumbo and FHA/VA) POST PURCHASE for compliance with contract reps and warrants

-Researches cases for fraud, violations of underwriting policies and procedures, credit, compliance, collateral quality and overall misrepresentation

-Strong ability to identify issues during file review process that present a risk to Bank of America and/or renders the loan ineligible for delivery to FNMA/FHLMC or secondary market.

-Must have the ability to review loan level documentation and communicate audit findings in a professional and accurate manner. Excellent writing skills are required as audit reviews are sent to Executive Level Management on a monthly basis.

- Individuals that do not possess FHA/VA, FNMA or FHLMC knowledge will NOT be considered. Special consideration in this position for candidates with Government Underwriting Experience.



Team Lead responsibilities:

-Supervise a team of Sr. Underwriters and Support personnel conducting Post Risk Based Underwriting/Compliance Reviews.

-Responsible for Training, Coaching, and 2nd level reviews as Team Lead. -Strong Federal and State Mortgage Compliance Background required. Responsible for Compliance questions and 2nd level reviews.

-Responsible for Reports and Tracking utilizing excel spreadsheets and current databases.

-Responsible for Performance Review creation and administration but not Salary Administration.
Leads a team of consumer underwriters involved in consumer lending to creditworthy customers. Ensures compliance with policies and procedures, leads a team of associates providing coaching, development opportunities and monitoring performance. May provide an additional level of approval authority for exceptions to policy or more complex transactions. May be an intermediary to third parties such as dealers or banking center associates. Responsibilities may include managing a team of associates. 

Qualifications
In-depth Federal/State Mortgage Compliance Experience - min 3 years

Mortgage Underwriting Experience - min 5 years

Supervisory experience - min 2 -3 years

Strong research skills

Strong Written Communication skills

4 year degree in Business or related area

QC or Audit Experience

Excel - Reporting capabilities

Mortgage Fraud Research