• Job Description

  Req#: wu3498L0bRgc
  Description
  
  Position at loanDepot
  
  Position Summary:
  
  Responsible for the day-to-day review of investor repurchase demands and impaired loans referred to the Asset Disposition (AD) Group. Reviews multiple types of mortgage lending programs with an emphasis on conventional loans, ensuring compliance with appropriate company, agency/investor standards and all applicable state/federal laws. Responsible for analyzing credit risk, validating the underwriter's approval logic, identifying underwriting and compliance deficiencies and ultimately determining the salability of the loan. Interacts with external lending partners (agencies/investors/3rd party vendors), recommending a course of action to cure identified defects or provides a thorough, sound, written argument in instances where no defects were identified. Interacts with internal partners that includes, but not limited to, Sales, Secondary, Post Closing, Shipping, Servicing, Appraisal, Credit Policy, Counsel, Treasury, etc. in order to evaluate impaired assets and mitigate potential losses. This position ensures the performance of all duties in accordance with the company's policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.
  
  Responsibilities:
  
  • Conducts forensic research and analysis of closed loans to determine nature and validity of the defect cited by the investor, analyzing the information collected before, during and after the loan closed. The research and analysis activities include creating a holistic view of the loan scenario that may expand beyond seller guidelines.
  • Prepares a thorough written defense of a loan when no defects are observed or established and implements a course of action to minimize the impact when defects are observed. This includes submitting an appeal or recommending corrective refinance, reprice, repurchase alternative or scratch & dent. The action plan may require multiple follow up calls/emails to various parties to obtain the documentation or information needed to mitigate the defect.
  • Provides a thorough, accurate written assessment of the research and review results that defends the approval decision and ensures the investor retains the loan or, clearly documents the nature and impact of the impairment that supports the remediation decisioning.
  • Manages a pipeline (volume varies) of open and closed repurchase/indemnification notices that ensure repurchase demands are reviewed within agency/investor timelines, and the designated database is updated with applicable dates, documents, review summaries, various loan data elements and final actions.
  • Acts as a subject matter expert on agency/investor guidelines and underwriting related matters to various internal departments including investor solutions, post-closing, Government insuring, Defect Resolution Team and Quality Control.
  • Communicates emerging issues and trends to Senior management.
  • As needed, represents Asset Disposition by attending various meetings with agencies/investors, internal origination/operations teams and ad-hoc project meetings.
  • Attends all internal team meetings and performs other duties and projects as assigned by the VP of Enterprise Quality.
  
  Requirements:
  
  • Bachelor's Degree preferred.
  • Minimum of Seven (7) years' experience as a Repurchase Auditor/Analyst, Underwriter, Fraud/Red Flags Auditor/Analyst Originations Quality Control Auditor, or similar field required
  • Familiarity with Empower LOS a plus.
  • Demonstrates a current working knowledge of industry guidelines, policies, trends and practices from Fannie Mae and Freddie Mac specific to originations.
  • Demonstrates a basic understanding of state/federal compliance regulations specific to mortgage originations.
  • Ability to recognize red flags of misrepresentation and maintain a working knowledge of emerging fraud schemes both internally and industry wide.
  
  
  Why work for #teamloanDepot:
  
  • Aggressive compensation package based on experience and skill set.
  • Inclusive, diverse, and collaborative cultures where people from all backgrounds can thrive.
  • Work with other passionate, purposeful, and customer-centric people.
  • Extensive internal growth and professional development opportunities include tuition reimbursement.
  • Comprehensive benefits package including Medical/Dental/Vision.
  • Wellness program to support both mental and physical health.
  • Generous paid time off for both exempt and non-exempt positions.
  
  
  About loanDepot:
  
  loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster, and less stressful to purchase or refinance a home. Today, as the nation's second largest non-bank retail mortgage lender, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional, and national philanthropic efforts.
  
  Base pay is one part of our total compensation package and is determined within a range. This provides the opportunity to progress as you grow and develop within a role. The base pay for this role is between $49,000 and $85,500. Your base pay will depend on multiple individualized factors, including your job-related knowledge/skills, qualifications, experience, and market location.
  
  We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

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