Your potential. Your opportunity.
Are you passionate about creating an exceptional client experience?
Discover your opportunity with Union Bank®, a division of the Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world. At Union Bank, we have our clients' best interest in mind and draw on more than 160 years of experience to understand their distinct needs to tailor our solutions. We're part of 180,000 colleagues around the globe striving to be the world's most trusted financial group, knowing that trust starts with a culture of putting people first and empowering you to achieve your potential.
Join Union Bank, where being inspired is expected and creating results is rewarded.
This is a remote position. A member of our recruitment team will discuss location preferences with you in more detail.
Responsible for performing pre-funding audits of residential and consumer mortgage loans/lines to ensure and monitor adherence with bank, regulatory and investor guidelines. Responsible for performing additional Ad Hoc audit requests from internal customers. Performs training of new and existing auditors, ability to edit the work of others and provide feedback as necessary; ability to act as lead auditor on or other assignments; experience and ability to handle the QA Manager duties on a temporary basis. The position reports to the Operational Support Manager in Consumer Lending Operations Support. Operations Support is responsible for the day-to-day management of projects, work flow, operational policies/procedures, and compliance and risk issues having a direct impact on loan production/Consumer Lending operations. Major Responsibilities: 55%- Performs timely audit of loans selected for QA (residential and consumer reviews to evaluate, analyze and assess risk, to ensure adherence to policies and procedures, to detect the potential of fraud, and to detect errors and omissions in the underwriting, processing and closing functions. Recalculate loan applicant income to confirm the qualifying income (source and amount) determined by a Mortgage Loan Underwriter is accurate and acceptable based on bank and investor guidelines. Income calculations will be performed either manually or with the use of an electronic worksheet or job aid. Documents reviewed include, but are not limited to, paystubs, W2s, tax returns (personal, partnership, corporate), and P&Ls and/or other financial statements. Analyze available assets to confirm a loan applicant has sufficient assets from an acceptable source to cover down payment, closing costs, and cash reserves according to bank and investor guidelines. Documents reviewed include, but are not limited to, bank statements, investment statements, gift letters, etc. Review residential appraisal reports to ensure value is supported and the appraisal reports meets bank, regulatory, and investor requirements. Items to be reviewed include, but are not limited to, sale history, neighborhood characteristics, site characteristics, improvements, sales comparison approach, age of documentation, photos, floor plans, location maps, special property features or characteristics, and any related appraisal report addenda. Analyze credit reports to ensure proper calculation of debt service and capacity to repay. Compare liabilities on the credit report with obligations listed on the loan application, obligations that may appear on bank statements or pay statements, and those considered by the Mortgage Loan Underwriter in their calculation of debt to income ratios. Ensure discrepancies and delinquencies are address and documented in accordance with bank and investor guidelines. Ensure adherence to compliance and regulatory requirements. 10%- Handle Ad Hoc requests and meet time line requirements. 20%- Document all findings in the QA database(s) to record the results of each individual audit; strong writing skills to ensure findings are accurate and written in a clear and concise manner; maintain and update various logs to meet department and auditing requirements. 15%- Provide extensive training to newly hired auditors and to provide guidance to existing audit staff; strong audit and communication skills to perform audit function and lead auditor responsibilities.Requires a minimum of 10 years residential or consumer loan/line Quality Control auditing and/or underwriting and/or supervisory experience; or equivalent work experience. Requires strong working knowledge of the mortgage lending process, including the underwriting, processing, closing, and compliance areas. Working knowledge of FNMA/FHLMC underwriting standards and Seller/Servicer guidelines is required. Strong verbal and written communication skills, ability to effectively communicate with internal/external clients, and working knowledge of computer programs (Word, Excel, etc). BA/BS degree preferred or strong work history in mortgage industry.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
Some MUFG roles require that individuals be fully vaccinated against COVID-19, subject to exemptions for medical or religious reasons, as well as any other reason required by applicable law or order. Should you be selected for an interview, your recruiter will provide additional information.