SHANMUGA PRIYA K

JOB DESCRIPTION:

• Hands on experience in Correspondent channel Pre Purchase Review of mortgage in [Delegated & Non-Delegated] and [TJP , Non-QM products]
• Organized closing documents systematically all the closing/funding docs in the tool
• Setting up the file for Compliance and Pre-Purchase Review.

Pre-Purchase Review:

Delegated:

• Exposure on reviewing and verifying the Credit, Capacity, Capital and Collateral documents to support the underwriting decision.
• Reviewing all the Closing Documents like Note, Deed of Trust, Final AUS, Initial and Final 1003, Appraisal report, CPL, Title Commitment, Final CD, VVOE and Escrow Documents [HOI, Tax, IEAD, FPL] and adding a condition if any discrepancy.
• Processing loan products like Conventional, FHA, VA & USDA based on FNMA, FHLMC & GNMA guidelines.
• Performing Early check and LQA to validate LOS information.
• Verifying all the Income, Asset and Credit Documents as per Final AUS requirements and requesting for the lender if any discrepancies found.
• Verified accuracy of loan details including loan amount, appraisal value, purchase price, LTV/CLTV, DTI, and program code with Final AUS, ensuring delivery of files met quality standards.

Non-Delegated:

• Sound Knowledge in reviewing and verifying the Credit, Capacity, Capital and Collateral documents to support an underwriting decision.
• Reviewing all the Closing documents like Note, Deed of Trust, Final AUS, Initial and Final 1003, Appraisal report, CPL, Title Commitment, Final CD, VVOE and Escrow Documents [HOI, Tax, IEAD, FPL], LOS information and Final CTC
• Cross-checked loan details such as loan amount, appraisal value, purchase price, LTV/CLTV, DTI, and program code with Final AUS, consistently delivering files to standard quality.
• Processing loans products like Conventional, FHA, VA & USDA based on FNMA, FHLMC & GNMA guidelines and performing Early check and LQA to validate LOS information for conventional loans
• Coordinated with Non-Del Underwriter to address discrepancies in underwriter-related documents and requested corrected closing documents from the lender as necessary.
• Resolved loan conditions by verifying provided documents for compliance
• Reviewing PTF Condition and clear it if necessary documents have been provided.
• Following up clarification loans sent to Non-Del Underwriter until file is moved to next milestone
• Non-QM and TJ Loans.
• Loan is processed based on the Non-QM and TJ Overlays
• Reaching Underwriter for any mismatch and following up clarification until file is moved to next milestone
• Compliance Reviewer
• Hands on experience in Correspondent channel Compliance Review of mortgage in [Delegated & Non-Delegated] and [TJP , Non-QM products]. Receiving the files through a client-based application and working on the files in the priority basis.
• Working on Loan programs like FHA, VA, USDA and Conventional.
• Reviewing the documents like Loan Estimate, Closing Disclosure based on TRID/TILA rules.
• Updating the information given in Loan Estimates and Closing Disclosures in Client Web-Based application.
• Calculate the 0% Tolerance and 10% Tolerance from the Loan Estimate to Final Closing Disclosure.
• If the tolerance limit exceeds, we request the Lender to provide Change of Circumstance or reimbursement to the borrower based on the scenario.
• Also reviewing documents like Homeownership Counseling Disclosure, Settlement Service Provider List, Intended to Proceed, Privacy Policy, Notice of Service Transfer, Compliance Agreement, etc.
• Fetching the Compliance Report executed in Client Web-Based application and uploading in the client based application

Underwriting:

• Trained in Conventional Underwriting within 5 Weeks.
• Certified in Conventional Underwriting.

Process:

• Executed loan processing, ensuring accurate evaluations for clients.
• Based on Loan Scenarios we analyze, verify and calculate the Income using the Client web based application and Qualify the Borrower.
• For Salaried Borrower(s) we do order the Work Number VOE using Client based web application.
• Hands on experience in Conventional Loans. Receiving the files through a client-based application and working on the files in the priority basis.
• Reviewed documents including credit reports, AUS, AVM, 1003, and income statements based on scenarios.
• Verifying and running Fraud Guard.
• Verify and run AUS based on the Loan product.
• Once documents received, work on the file and move the milestone.
• Check the loan passes the fast track eligibility.

Document Review:

• Reviewed and validated documents received through NetOxygen based on Underwriter requirements and loan conditions.
• Verified that all required documentation was received, and accurate and sufficient to satisfy outstanding conditions.
• Audited offshore agent-processed files, preparing daily quality reports to identify findings and discrepancies.
• Distributed files to team members based on workflow demands, while monitoring file status for timely processing.
• Managed and tracked the Loan Completion status to support timely file completion.
• Coordinated with team members to resolve document-related discrepancies, ensuring prompt completion of files.
• Executed thorough document reviews while collaborating closely with supervising attorneys.
• Formulated innovative strategies to enhance efficiency in the document review process.
• Performed in-depth research on key topics pertinent to the document review process.

LRA – Conventional Submission

• Audit and review underwriting files completed by Underwriters to ensure accuracy and compliance with applicable guideline.
• Analyse borrower creditworthiness through review of Credit Reports, Credit Supplements, Mortgage Statements and other supporting credit documentation.
• Evaluate borrower income using Paystubs, W-2s, VOEs, Individual and Business Tax Returns and other required income document.
• Review and verify borrower assets, including Bank Statements, 401(k)/IRA Statements, VODs, Gift Letters and other required documentation.
• Review Appraisals and Purchase Contracts to validate property information, appraised value and potential red flags.
• Review Title documents to validate Proposed Insured, property vesting and lien position.

Co-Issue:

• Perform post-closing quality assurance reviews of mortgage loan files by validating required documents and loan data against applicable guideline.
• Review initial and final loan estimates (LE) for accuracy, including issue dates, while maintaining updated QA worksheets for traceability.
• Verify Closing Disclosure (CD) issue and receipt dates and document missing or inconsistent information in the QA worksheet.
• Cross-check loan setup and discrepancy reports against supporting documents to identify data mismatches and ensure accuracy.
• Perform exclusionary list checks for Appraisers, Settlement Agents and associated companies to identify potential compliance concerns.
• Review Private Mortgage Insurance (PMI) certification for conventional loans and validate coverage against AUS requirements and supporting documentation.
• Verify Flood Certification details including borrower name, property address, flood zone, certification date and approved flood service providers.
• Validate key loan and closing data across LE, CD, AUS, PMI, Flood Certification and other supporting documents.
• Identify document and data discrepancies and accurately record observations in QA worksheets for further review and resolution.
• Ensure loan files comply with investor, lender and internal quality control requirements through detailed document and data validation
• Oversaw daily management of MIS reports and tracker updates to provide timely insights for business teams.