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Pre-Funding Auditor at Logix Federal Credit Union

Posted in Other 30+ days ago.

Type: Full Time
Location: Burbank, California





Job Description:

The Pre-Funding Auditor evaluates approved mortgage loans to ensure their accuracy, completeness, and if loans are in compliance with company and investor policy requirements, as well as State and Federal regulatory guidelines. This requires a detailed and thorough review of all loan files and residential loan product types, including analysis of income, assets, credit and collateral, prior to fulfillment and servicing.

- Examines residential loan documentation for accuracy, completeness, and compliance with appropriate company and secondary market investor standards.

- Evaluates credit decisions for accuracy based on established risk parameters and in accordance with policy, program and product guidelines.

- Calculates income which may include wage-earner, self-employment and complex tax returns to ensure the documentation in the file is accurate and meets the terms of the loan parameters and investor guidelines.

- Reviews assets to ensure documentation is accurate and meets terms of loan parameters and investor guidelines.

- Performs in-depth review and analysis of credit and collateral which includes; appraisals and preliminary title reports.

- Follows defined policies and procedures to cost-effectively assess the salability and serviceability of the loan files using pre-determined Audit Checklists.

- Through detailed summary notes, communicates with underwriting and processing teams to ensure appropriate identification of loan issues and adherence to policy and procedures.

- Recommends modifications to quality assurance, underwriting loan processing, servicing or fraud prevention procedures.

- Assists with fraud detection and prevention.

- Publishes and reports Monthly/Weekly loan errors and audit findings to appropriate department managers.

- Completes an allotted number of loan files that are assigned daily to meet department and division service level agreements.

- Makes recommendations for corrections or additional documentation, as necessary.

- Assists with the preparation of summary reports generated for Loan Quality Committee and Senior Loan Quality Committee.

- Maintains records of findings, produces and reports on trends, and recommends changes to loan audit processes and reports.

- Reviews automatic system approvals and processes; recommends changes, as necessary.

- Corresponds with investors and responds to any investor audit issues.

- Provides recommendations and feedback to processors, underwriters and managers.

Education and/or Experience

Must have:

- Must have 2-4 years' experience in real estate lending and underwriting to FNMA/FHLMC guidelines and a working knowledge of the Microsoft suite of office products.

- Thorough understanding of loan programs.

- Demonstrated ability to perform calculations to conduct financial projections and estimates.

- Prior experience analyzing credit.

- Prior experience reviewing personal and business financials.

- Prior experience conducting audits.

- Knowledge of TRID strongly preferred.

- Bachelor's degree (B. S.) or equivalent from four-year college with an emphasis in finance or real estate; or equivalent combination of education and experience preferred.

- Experience with automated lending systems is a plus.

Must also demonstrate conduct consistent with our Corporate Values:

- Practice open Communication with all levels;

- Be Accountable by taking ownership of customer issues and responsibility for one's actions;

- Foster Teamwork by cooperating and collaborating with other employees;

- Seek ways to make the workplace Fun for oneself & others;

- Conduct oneself with Integrity by being honest, trustworthy and ethical in all work activities and interactions;

- Work with a Service Orientation by having a genuine concern for the needs of one's customers and by being friendly, professional and following through on commitments; and

- Demonstrate Humility in all interactions and remember to leave one's ego at the door when one arrives to work.

Logix Federal Credit Union is an equal opportunity employer that does not discriminate in employment opportunities or practices on the basis of race, religion, color, sex, sexual orientation, gender identity, national origin, protected veteran or disability status, or any other status protected by law..


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