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Pre purchase reviewer

Employer
Narvi Placement School
Location
Mumbai Mumbai Maharashtra, Maharashtra, India
Salary
500000 - 750000 INR per year
Closing date
Mar 2, 2024

View more

Job Role
Accounts Payable
Sector
Finance
Contract Type
Permanent
Hours
Full Time
Job Overview:

The role of the Pre-Purchase Reviewer is to review the closed loan file documents and ensure that the loan closed according to the approval, meets all federal, state, local and investor requirements and that the data in the LOS matches the data in the mortgage loan documents. The position requires a thorough understanding and familiarity of both credit, income, assets and closing documents to complete the applicable review questions in the questionnaire and provide results to Client.

Experience: -
  • 2 years & above: Recent experience of min 2 two years in PPR is Must.
  • Education Qualification:- Degree Or Equivalent.
  • Preference: - US Mortgage Process (Only Night Shifts).
  • Work From Home/Remote.


Key Required Skills:-
  • Ability to read various documents involved in Closing, Funding and Underwriting.
  • Expertise in Origination, Due Diligence, Pre-Purchase Review or Underwriting process.
  • Analysing Credit and Income.
  • Knowledge on Documents, Loan Origination Cycle.
  • Excellent knowledge on ATR/QM, RESPA, TRID and mortgage compliance regulations.
  • Should aware of Fannie Mae, Freddie Mac, FHA and VA guidelines.
  • Ability to make decision based on situation with Customer Service Skills


Job Roles and

Responsibilities:

  • Review and analyse the mortgage loan application to ensure eligibility, accuracy, completeness, and compliance with internal and regulatory guidelines to minimize risk factors.
  • Knowledge of Loan Origination Cycle- Loan Application, Origination, Due Diligence, Pre-Purchase Review or Underwriting process.
  • Knowledge of different types of mortgages and its functioning and ability to read various documents involved in Closing, Funding and Underwriting.
  • Review the loan documents using the Pre-Purchase Review checklist for completeness and accuracy.
  • Strong knowledge of ATR/QM (Ability-to-repay/Qualified Mortgage), RESPA (Real Estate Settlement Procedures Act), TRID (TILA-RESPA Integrated Disclosures) and mortgage compliance regulations.
  • Review all loan types including Conventional, FHA (Federal Housing Administration), VA (Veterans Affairs) & USDA (U.S. Department of Agriculture).
  • General knowledge of Fannie Mae, Freddie Mac, FHA and VA guidelines a plus.
  • Add suspense conditions in a clear concise manner in LOS for any deficiencies noted as part of the above review.
  • Strong Customer Service Skills, Detail Oriented with good analytical skills and the ability to make decisions based on the situation.


Qualification & Experience
  • Degree or Equivalent.
  • 2 - 10 years of experience in PPR / Underwriting.
  • Should be flexible working in night shifts.
  • Good written and oral communications skills in English.

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