The Loan Quality Review (LQR) Analyst will provide underwriting quality oversight by performing end-to-end reviews and evaluations of loan file underwriting decisions (Credit, Income, Assets, Debts and Collateral). Analysts provide timely, actionable feedback to the appropriate party on errors, concerns or trends on those loan level reviews. Review volume may include, but is not limited to, live underwriting production for purposes of reviewing new underwriters attempting to obtain lending authority, closed production for purposes of quality oversight for delegated Correspondents, and other ad-hoc audits as requested by Channel or Oversight Management.
LQR Analyst performs quality oversight of underwriting decisions through the review of files for accuracy of overall credit and collateral decisions. The Analyst is responsible for delivering feedback, providing clear and concise descriptions of loan defects and articulating identifiable concerns and trends to management.
- Analytical Thinking – Applies logic to solve problems and get the job done
- Strong Organizational Skills – Ability to manage time appropriately, set priorities and tasks accordingly
- Problem Solving skills – Must possess the ability to discover and analyze problems then seek to overcome obstacles to solve the issue
- Communication Skills – Strong verbal and written communication skills; strong ability to listen, present and clearly express key concepts
- Customer Focus – Must possess the ability to serve both the internal and external customer while at the same time safeguarding risk for Chase
Principal Duties and Responsibilities
- Performs pre-close and/or post-close reviews of files with defects to determine cause and potential remedy
- Provides clear and concise descriptions of loan defects and cause, articulating identifiable trends and concerns to management
- Engages appropriate internal and external partners, as appropriate, to remedy deficiencies
- Performs reviews on live production, when dictated by policy and/or procedure, to support production underwriting. Reviews may include lending authority submissions, random reviews dictated by policy based on Underwriting quality, loan exception reviews, and/or other files as referred by management
- Documents review findings, provides feedback to internal and external partners based on the type of file review and drive resolution, as appropriate
- Performs second review of declined files, when dictated by procedure, to ensure accuracy of decision and initiate steps to remedy underwriting errors
- Performs tracking of quality performance and prepare reports as directed by management or procedure
- Acts a subject matter expert in policies and procedures
Knowledge and Experience
- Minimum 5 years in frontline mortgage underwriting required
- College Degree preferred
- Excellent negotiation, analytical, and decision making skills
- Strong verbal and written communication skills
- Thorough knowledge of Chase credit policies, products, and guidelines; agency products and guidelines; and private investor products, and guidelines
- Expert in personal and business financial analysis and in tax return and balance sheet analysis, including both cash flow and AGI methods
- VA and FHA experience a plus
- Experience with Microsoft Word, Excel and PowerPoint preferredChase is a leading financial services firm, helping nearly half of America's households and small businesses achieve their financial goals through a broad range of financial products. Our mission is to create engaged, lifelong relationships and put our customers at the heart of everything we do. We also help small businesses, nonprofits and cities grow, delivering solutions to solve all their financial needs.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as any mental health or physical disability needs.
Equal Opportunity Employer/Disability/Veterans