Quality Monitoring TRID Compliance Risk Underwriter

BB&T   •  

Greenville, SC

Industry: Accounting, Finance & Insurance


5 - 7 years

Posted 191 days ago

This job is no longer available.

Essential Duties and Responsibilities:

The following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.

1. Validate/re-underwriteloans by performing a comprehensive loan level underwrite, systems risk and compliance analyses of mortgage loan origination operations (Retail, HMD and/or CL) for adherence to all investors, insurers, federal regulations and BB&T.

2. Review income tax returns with all schedules and communicate calculations verbally and in writing.

3. Determine credit worthiness of a borrower to include knowing how to read a credit report, identify red flags and question items that are suspicious in nature that may result in unnecessary risk and fines to BB&T.

4. Review bank statements or quarterly financials to determine borrower’s account activity including evaluating large deposits as defined in the investor/insurer guidelines.

5. Evaluate an appraisal report in adherence to investors and insurer guidelines to determine if the opinion of value stated by the appraiser was supported with the comparables provided.

6. Complete HUD Branch Office reviews to make sure the branch is setup properly and complies with all requirements set forth by HUD. Reviews will be completed on and offsite.

7. Review non-originated loans for regulatory compliance with Equal Credit Opportunity Act, Fair Lending, Regulation B and Regulation C (HMDA).

8. Identify, create, and ensure follow-up of action plans identified during quality monitoring ensuring to escalate any issues that are not being remediated promptly by partnering with the appropriate line of business (LOB) to resolve.

9. Perform scheduled testing of various mortgage loan origination operations policies and procedures.

10. Analyze data and produce scheduled quality control reports and make recommendations as to appropriate corrective action or gap-related solutions.

11. Report to Mortgage Lending Production Quality Monitoring Investor and Insurer Risk Manager material findings with respect to violations of federal regulation, investor/insurer guidelines, or suspicious loan activity.

12. Assist with the development and updating of departmental procedures.

13. Act as an alternate information security liaison for Retail, HMD and/or CL.

14. Assist with monitoring internal control records and business recovery plans for Mortgage Lending Administration (MLA).

15. Assist in management and coordination of audits performed by internal/external auditors with respect to mortgage Retail, HMD and/or CL.

16. Assist with research and analyses of emerging loan origination related industry actions and concerns.

17. Embrace change, acting as a role model and promoting a mindset of continuous improvement.

18. Promote effective communication with business partners to achieve optimum feedback and improve the value of the recommended actions to the LOB. Ability to discuss findings and supportunderwriting decisions rendered.

19. Ensure all actions are aligned with BB&T Mission, Vision and Values.

Required Skills and Competencies:

The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

1. Bachelor’s degree or equivalent education and related training

2. Five years of experience in quality assurance, quality control, mortgage underwriting or similar experience, risk management, and/or regulatory compliance

3. Experience underwriting Freddie Mac/Fannie Mae loans

4. Strong knowledge of investor/insurer guidelines, applicable laws, regulations, and company audit policies and procedures and the ability to effectively interact with all levels of senior management, Federal Deposit Insurance Corporation (FDIC), and Consumer Financial Protection Bureau (CFPB)

5. Strong understanding of mortgage documentation and regulatory compliance requirements (e.g. allowable fees, Good Faith Estimate (GFE) to Housing and Urban Development (HUD-1) comparisons, exception tolerances)

6. Ability to support multiple tasks, with varying levels of complexity, importance and involvement

7. Excellent interpersonal, leadership, analytical and problem-solving skills

8. Excellent verbal and written communication skills

9. Detail-oriented, motivated and function well in a team environment

10. Must exhibit a keen attention to detail and the ability to quickly comprehend information

11. Demonstrated proficiency in basic computer applications, such as Microsoft Office software products

12. Ability to travel, occasionally overnight

Desired Skills:

1. Master’s in Business Administration (MBA) supplemental education and/or experience in mortgage loan origination operations (Retail, HMD and/or CL), including audit, quality control, underwriting or regulatory compliance

2. Strong knowledge of the Unifi mortgage loan origination systems and overall mortgage production processes (e.g. origination, processing, underwriting, closing, and government insuring)

3. Veterans Affair - Staff Appraisal Reviewer (VA SAR)

4. Experience with identifying operational risks and developing mitigating controls

5. Experience in following and/or validating the following regulatory requirements:

TILA - Truth In Lending (Regulation Z) - TRID

RESPA - Real Estate Settlement Procedures Act (Regulation X)

Regulation O - Loans to Executive Officers, Directors, and Principal Shareholders of member banks

Privacy - Privacy of Consumer Financial Information (Regulation P)

HPA - Homeowners Protection Act

HMDA - Home Mortgage Disclosure Act (Regulation C)

Flood - Loans in area having special Flood Hazards

FCRA - Fair Credit Reporting (Regulation V)

ECOA - Equal Credit Opportunity Act (Regulation B)

BHCA - Bank Holding Company Act