Mortgage Credit Quality Audit Associate

This is an exciting opportunity to join a growing company in an emerging market.  We offer a fast paced and fun environment where your input and experience are valued.

Company

Verus Mortgage Capital is an independent national mortgage investor. Verus offers its Sellers responsible non-prime and Jumbo prime lending products that fill the credit void in today’s market. Verus consistently evaluates today’s market and credible borrower financing needs to offer our partners innovative solutions. Verus Mortgage Capital is an affiliate of Invictus Capital Partners please visit our website at https://verusmc.com/.

Role

Verus Mortgage capital is seeking a Credit Quality Audit Associate to complete reviews of recently underwritten (pre-close) or closed mortgage credit loan files.  Report results to management and identify trends or opportunities for improvements.  The candidate must possess the interpersonal skills to facilitate a cohesive work relationship with both internal and external partners at various levels.  The ability to work and thrive both independently and collaboratively within an entrepreneurial small team environment is a must.

Accountabilities

  • Audit the underwrite of mortgage credit loan files including: legal collateral, credit, property, and compliance documents to ensure loans meet eligibility guidelines and represent an acceptable level of risk for purchase and securitization.
  • Recalculate income using paystubs, W-2s, tax returns, bank statements, and/or Profit & Loss Statements.
  • Review the accuracy of third party provided data in systems compared to credit files.
  • Report audit findings to management.
  • Identify and recommend procedures for process improvements.
  • Willingness to mentor other associates.
  • Research underwriting issues and/or concerns and present finding to internal partners and management as requested.
  • As needed, work with Operational team on other duties necessary to acquire assets or as assigned by management.

Education and Experience

  • In depth knowledge of mortgage underwriting, mortgage product guidelines and the mortgage production process.
  • Experience with GSE audit and QC requirements.
  • Minimum of 3 years current mortgage underwriting experience.
  • Recent experience manually calculating income based on bank statements, Tax Returns, P&L statements.
  • Non-QM underwriting knowledge.
  • Appraisal review experience.
  • Working knowledge of Microsoft Office suite with high degree of comfort with excel and review of spreadsheet data.
  • Strong oral and written communication skills. Attention to detail.
  • Current knowledge of state and federal compliance and regulatory environment.
  • Knowledge of non-owner occupied (business purpose) loan transactions a plus.
  • Ability to work both independently and collaboratively within a small team environment.

Required Skills/ Abilities

  • In depth knowledge of mortgage underwriting, mortgage product guidelines and the mortgage production process.
  • Non-QM underwriting knowledge.
  • Working knowledge of Microsoft Office suite with high degree of comfort with excel and review of spreadsheet data.
  • Strong oral and written communication skills.  Attention to detail.
  • Current knowledge of state and federal compliance and regulatory environment.
  • Knowledge of non-owner occupied (business purpose) loan transactions a plus.
  • Ability to work both independently and collaboratively within a small team environment.

Physical Requirements

  • Prolonged periods sitting at a desk and working on a computer.

All job duties and responsibilities must be performed within the guidelines of the Verus Residential Mortgage Employee Handbook and established company policies and procedures. It is the responsibility of each employee to maintain confidentiality of the company, its clients and to follow applicable laws and regulations in the performance of duties.

Verus Mortgage Capital is an equal opportunity employer. All qualified applicants are welcomed to apply and will receive consideration for employment without unlawful discrimination because of a person’s race, religious creed, color, national origin, citizenship status, ancestry, marital status, sex, age or sexual orientation, or because of a person’s disability or medical condition

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