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 one of the nation’s largest non-bank retail mortgage lenders, 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 though a variety of local, regional and national philanthropic efforts. loanDepot is an approved seller and servicer for Fannie Mae, Freddie Mac and Ginnie Mae. loanDepot, LLC, NMLS #174457 (http://nmlsconsumeraccess.org). Equal Housing Opportunity. Learn more at loandepot.com.

Description

Position at loanDepot

Position Summary:

Responsible for the day-to-day review of investor repurchase demands and uninsured, impaired loans referred to the Asset Disposition (AD) Group. Reviews multiple types of mortgage lending programs including but not limited to FHA, VA Bond loans, ensuring compliance with appropriate company, agency/investor standards and all applicable state/federal laws. Responsible for analyzing credit risk, validating the underwriters approval logic, identifying underwriting and compliance deficiencies and ultimately determining the insurability of the loan. Interacts with external lending partners (agencies/investors/3^rd 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, 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:

Reviews uninsured FHA/VA/Bond loans deemed impaired. Responsible for providing a thorough, accurate assessment of the impact of an impaired loan(s) to management that supports remediation decisioning (corrective refinance/scratch and dent sale/resale/other).
Reviews investor repurchase demands related to FHA/VA/Bond loans. Determines the course of action based and ensures the appropriate action is initiated. Actions include submitting written appeal responses to external partners or recommending repurchase/alternative remedy to internal partners. Adheres to agency/investor response timelines.
Manages a pipeline of uninsured loans, open/closed repurchase/indemnification notices including updating an internal database with applicable dates and documents, review summaries, various loan data elements and final actions.
Acts as a subject matter expert on GNMA requirements for pooled loans, HUD, FHA endorsement guidelines, VA guarantee requirements and underwriting related matters to various internal departments including investor solutions, post-closing, Government insuring, Defect Resolution Team and Quality Control. Responds to VA Deficiency and FHA Notice of Reject letters.
Responds to VA Deficiency and FHA Notice of Reject letters.
As needed, represents Asset Disposition by attending various meetings with agencies/investors, internal origination/operations teams and ad-hoc project meetings.

Requirements:

Bachelor’s Degree preferred.
Ten (10) years experience in the Mortgage industry required.
Minimum of seven (7) + years’ experience as a DE Underwriter and VA Automatic Underwriter, including underwriting FHA and VA loans for newly built homes, underwriting FHA and VA appraisals, and issuing FHA Conditional Commitments and VA Notices of Value.
Experience with HUD and VA related audits a plus.
Familiarity with Empower LOS.
Experience with and understanding of, FHA Connection Case Processing screens and VA WebLGY.
Must be eligible to be approved to access FHA Connection and VA WebLGY.
Proficient in the use of Fannie Mae DU and Freddie Mac LPA.
Possess the drive, determination, creativity, and knowledge for effective problem solving by forging unique solutions to mitigate defects.
Ability to successfully interact with internal and external partners to mitigate defects.

Why work for #teamloanDepot:

Aggressive compensation package based on experience and skill set.
Inclusive, diverse, and collaborative culture where people from all backgrounds can thrive.
Work with other passionate, purposeful, and customer-centric people.
Extensive internal growth and professional development opportunities including 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 roles is between $82,000 and $113,000. 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.

Asset Disposition Loss Mitigation Specialist, Sr

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