Post - Closing Quality Control Underwriter

Overview

POST - CLOSING QUALITY CONTROL UNDERWRITER

This role reports directly to the Post-Closing Quality Control Manager and focuses on performing thorough PCQC underwriting to ensure loan quality, detect defects, and maintain compliance with Fannie Mae's Selling Guide (Part D, Subpart D2: Lender Post-Closing Quality Control) and best practices from Fannie Mae's Beyond the Guide publications. The position involves collaboration with QC team members, underwriting, and compliance staff to mitigate risks such as fraud, errors, and repurchase demands.

• Conduct full post-closing QC underwriting reviews on selected loans, including analysis of credit, capacity, collateral, compliance, and legal documents to verify accuracy, completeness, and eligibility per Fannie Mae Selling Guide D2-1-01 and D2-1-02 requirements.
• Perform reverifications of borrower data (e.g., employment, income, assets, occupancy, sources of funds) using independent third-party sources to identify material misrepresentations, fraud, or changes, in line with Fannie Mae guidelines for detecting discrepancies.
• Review appraisals and collateral using Fannie Mae tools like Collateral Underwriter (CU) and Form 1033 to assess property valuation risks and integrate findings into defect evaluations.
• Identify and classify defects according to the organization’s defect taxonomy and severity levels, documenting findings with clear evidence and recommendations for corrective actions.
• Participate in the QC cycle, including initial reviews, management rebuttals, and final determinations, ensuring completion within 90 days of loan closing or securitization as required by Fannie Mae.
• Analyze loans from various channels, including third-party originations (TPOs), with targeted focus on high-risk attributes (e.g., early payment defaults, high DTI ratios, low credit scores, or fraud indicators).
• Utilize QC tools such as Fannie Mae's Loan Quality Connect (LQC), Desktop Underwriter (DU) for underwriting validation, Quality Insider for defect insights, and Ask Poli for policy research, alongside vendor tools like ACES Quality Management or Loan Logics for automated reviews and analytics.
• Contribute to root cause analysis for identified defects, supporting the development of corrective action plans and process improvements.
• Maintain accurate documentation of all reviews, findings, and reverifications, ensuring records are retained for at least three years and available for Fannie Mae or regulatory audits.
• Collaborate with the QC Manager and team to track defect trends, report findings, and promote a culture of quality through calibration sessions and training.

Required Qualifications

• Bachelor's degree in Finance, Business Administration, or a related field preferred; relevant certifications (e.g., DE Underwriter certification) a plus
• 5-7 years of experience in mortgage underwriting or quality control, with a focus on post-closing reviews

Additional Qualifications

• Strong knowledge of Fannie Mae's Selling Guide (Part
  
  D) and Beyond the Guide, including post-closing QC review processes, sampling, reverifications, defect classification, and reporting.
• Expertise in mortgage loan origination guidelines, regulatory compliance (e.g., federal lending laws, anti-fraud measures), and risk assessment.
• Proficiency in QC and underwriting tools, including Fannie Mae's Loan Quality Connect (LQC), Collateral Underwriter (CU), Desktop Underwriter (DU), Quality Insider, and Ask Poli; experience with vendor tools such as ACES Quality Management, Loan Logics, or equivalent.
• Excellent analytical and problem-solving skills, with attention to detail for identifying defects and trends.
• Effective communication skills for documenting findings and collaborating with teams.
• Ability to work in a fast-paced environment while maintaining accuracy and meeting deadlines.

Compensation

Starting base salary: $87,027 - $138,965 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

Benefits and Perks

At City National, we strive to be the best at whatever we do, including the benefits…