Key Bank Mortgage Business Analyst II (QA Underwriter)

$65,000 - $78,000/Yr

KeyBank - New York, NY

Full-time - Mid Level

Remote - New York, NY

Credit Intermediation and Related Activities

About the position

The Loan Audit/Repurchase Specialist at KeyBank is responsible for reevaluating original credit decisions and addressing deficiencies identified by investors during post-purchase quality control reviews. This role requires expertise in mortgage underwriting and advanced analytical skills to manage the pipeline of investor QC file requests, ensuring submission quality and compliance with investor guidelines. The specialist collaborates with various stakeholders to mitigate financial risks associated with loan repurchases.

Responsibilities

• Conduct thorough evaluations of borrower creditworthiness against Agency/Investor guidelines.
• Review loan applications and underwriting summaries for accuracy and completeness.
• Analyze credit reports to assess borrower credit history and liabilities.
• Calculate borrower income and cash flow in compliance with regulations.
• Reevaluate appraisals for accuracy and completeness, identifying the need for additional reviews.
• Communicate effectively with mortgage loan officers and other stakeholders regarding loan conditions and guidelines.
• Manage the delivery of loan files to meet Agency and investor QC requests.
• Maintain a database tracking QC requests and repurchase demands.
• Manage fair value measurement processes for repurchases and associated losses.
• Execute and rebut Indemnification Agreements or Recourse Agreements as required.
• Provide reporting on QC requests, repurchase demands, and corrective actions to Senior Leadership.
• Review investor Purchase and Sale Agreement's Representation and Warranties.
• Update Investor QC procedures and job aids, ensuring compliance with Risk Partners.
• Stay informed on Agency and Investor underwriting guidelines and federal/state regulations.
• Provide HMDA Reporting data elements on repurchased loans and assist with year-end reconciliation.
• Manage self-reporting requirements for underwriting defects and fraud cases.
• Collaborate with internal Fraud Investigation teams on confirmed fraud cases.
• Support Loan Delivery personnel in preparing loan packages for delivery to investors.
• Work with the Quality Control Team to identify defect trends for remediation planning.
• Prepare materials for quarterly repurchase reserve meetings and lead discussions on risk factors.
• Collaborate on bulk portfolio sales, ensuring timely resolution of discrepancies.

Requirements

• Bachelor's Degree or equivalent work experience
• 2-3 years of residential mortgage underwriting experience
• In-depth knowledge of FNMA, FHLMC, GNMA, FHA, VA, USDA, and private investor products and guidelines
• Proven knowledge of compliance and disclosure requirements
• Proven knowledge of closing, post-closing, and quality control responsibilities
• Proven knowledge of Mortgage Insurance guidelines
• Strong analytical skills with a focus on accuracy and completeness
• Proficient written and verbal communication skills
• Strong organizational skills to manage multiple tasks in a high-volume environment
• Proficient in Microsoft Word, Excel, and Access; knowledge of Empower LOS is a plus.

Benefits

• Base salary range of $65,000 to $78,000 annually
• Eligibility for short-term and deferred incentive compensation
• Flexible work options including mobile or home-based work environment