Real Estate Lending - Validator - (Phoenix) in Phoenix, Arizona For Sale

The Validator position involves the pre-underwriting and validation of first mortgage loans prior to being sent to First Mortgage for processing. The role of the Validator is to review more complex files and ensure that the necessary documentation has been obtained as required by the investor. The ability to maintain a high level of member service while adhering to regulatory requirements and investor guidelines will be necessary. The incumbent must be open-minded and solution oriented, as they will be relied upon to find solutions for the most difficult loans, which may not have been approved initially. Flexibility will also be critical in this fast paced, quickly changing environment. In addition, the incumbent must have the expertise necessary to accurately calculate all types of borrower income and must possess the skills necessary to analyze tax records including personal tax returns, partnerships, corporations, etc. Strong time management and follow-up skills are critical to ensure timely flow of applications and closing dates are consistently met. This individual is responsible for the final review of each file to ensure no exceptions exist that would otherwise restrict the ability to further process the loan. In the event an automated underwriting tool is used, the Validator must ultimately be responsible to ensure the loan conforms to the required approval parameters and all conditions have been properly satisfied. The incumbent must also have detailed knowledge regarding the requirements of the secondary market to ensure each file processed is saleable. The Validator will further verify that regulations are closely adhered to, including verification that members have received all necessary disclosures within the required timeframes. Documents obtained which may seem questionable in nature must be further verified and every effort should be made to eliminate fraud. Once documents are obtained and verified, it is the responsibility of the Validator to ensure that the file is complete and any exceptions are properly substantiated with appropriate compensating factors. After final review, the Validator will approve the file to be moved to the First Mortgage area for processing. The Validator will also be responsible for updating the department employees (Mortgage Loan Officers) on new investor guidelines as well as maintaining department reference material. The Validator will assist management in department training in the areas of quality, underwriting and product guidelines as well as investor requirements. The Validator will be responsible for tracking and maintaining compliance reports to document completion of the necessary disclosures on all completed loan applications. In addition, the Validator will monitor the active pipeline of preapproval to ensure the proper follow-up and file maintenance is completed. Other duties as assigned.
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