QUALITY CONTROL REPURCHASING UNDERWRITER

QUALITY CONTROL REPURCHASING UNDERWRITER

American Home Mortgage (NASDAQ – AHMH), America’s 14th largest mortgage lender, is experiencing tremendous growth nationwide. We have an excellent career opportunity for an experienced individual in our Melville, Long Island headquarters.

You will be responsible for implementing the Repurchase Process for loans - receiving and tracking all repurchase, indemnification or making whole requests from investors, HUD, private mortgage insurance companies, etc. for loans that have been originated and/or sold.

Specific duties will include:

•Investigate loan files and work with Regional Operations Managers to prepare rebuttals to investor repurchase requests

•Review investor requests, loan sale agreement requirements and loan payment histories for repurchase and indemnification requests due to early payment default to determine whether requests are valid

•Coordinate with department administrative assistant to ensure that all investor requests are logged into the Repurchase Loan Database

•Review all loans that repurchase or indemnification requests are received on to determine if any errors were made by loan officer, processors, underwriters or other origination staff and note the error type in the Repurchase Loan Database

•Work with Quality Control Manager to ensure that all loans with significant quality problems and loans with early payment defaults are audited and sources are considered for increased sample size in monthly QC reviews

•Negotiate with investors when feasible to avoid repurchase or to indemnify in lieu of repurchase
REQUIREMENTS
Requirements include:

•Several years experience in loan processing and preferably underwriting or quality control reviews at an institution selling mortgage loans into the secondary market,

•Experience in working with secondary market investors preferably in regards to handling of repurchase loan requests.

•Knowledge of Fannie Mae, Freddie Mac, HUD, VA credit standards.

•Demonstrated ability to analyze complex closed loan files to determine if guidelines were met.

•Some working knowledge of MS Excel is helpful.

•Undergraduate degree preferred.

Please respond with resume and salary requirements to: [Click here for email]

Equal opportunity employer m/f/d/v.

AMERICAN HOME MORTGAGE