Mortgage QC Analyst II in Buffalo, NY at Key Bank- Corporate

Date Posted: 2/12/2020

Job Snapshot

Job Description

  • 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

REQUIRED QUALIFICATIONS

  • 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.

40431BR

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