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At Union Bank, our people are our greatest asset. We are one of the largest banks in California with a longstanding reputation for professional training and career development. In addition to investing in our employees, Union Bank has established a generous community reinvestment program that works to uplift communities and watch them grow. We invest in a diverse workforce as our employees come from many different backgrounds, bringing with them different experiences and perspectives.
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Responsible for performing pre-funding audits of residential and consumer mortgage loans/lines to ensure and monitor adherence with bank, regulatory and investor guidelines. Responsible for performing additional ad hoc audit requests from internal customers. Performs training of new and existing auditors, ability to edit the work of others and provide feedback as necessary; ability to act as lead auditor on or other assignments; experience and ability to handle the QA Manager duties on a temporary basis.
Performs timely audit of loans selected for QA (residential and consumer) reviews to evaluate, analyze and assess risk, ensure adherence to policies and procedures, detect the potential of fraud, ans detect errors and omissions in the underwriting, processing and closing functions.
Recalculate loan applicantion income to confirm the qualifying income (source and amount) determined by a Mortgage Loan Underwriter is accurate and acceptable based on bank and investor guidelines. Income calculations will be performed either manually or with the use of an electronic worksheet or job aid. Documents reviewed include, but are not limited to, paystubs, W2s, tax returns (personal, partnership, corporate), and P&Ls and/or other financial statements.
Analyze available assets to confirm a loan applicant has sufficient assets from an acceptable source to cover down payment, closing costs, and cash reserves according to bank and investor guidelines. Documents reviewed include, but are not limited to, bank statements, investment statements, gift letters, etc.
Review residential appraisal reports to ensure value is supported and the appraisal reports meet bank, regulatory, and investor requirements. Items to be reviewed include, but are not limited to, sale history, neighborhood characteristics, site characteristics, improvements, sales comparison approach, age of documentation, photos, floor plans, location maps, special property features or characteristics, and any related appraisal report addenda.
Analyze credit reports to ensure proper calculation of debt service and capacity to repay. Compare liabilities on the credit report with obligations listed on the loan application, obligations that may appear on bank statements or pay statements, and those considered by the mortgage loan underwriter in their calculation of debt to income ratios. Ensure discrepancies and delinquencies are addressed and documented in accordance with bank and investor guidelines.
Ensure adherence to compliance and regulatory requirements. Handle ad hoc requests and meet time line requirements.
Document all findings in the QA database(s) to record the results of each individual audit; strong writing skills to ensure findings are accurate and written in a clear and concise manner; maintain and update various logs to meet department and auditing requirements.
Provide extensive training to newly hired auditors and to provide guidance to existing audit staff; strong audit and communication skills to perform audit function and lead auditor responsibilities.
Requires a minimum of 10 years residential or consumer loan/line quality control auditing, underwriting, or supervisory experience.
Requires strong working knowledge of the mortgage lending process, including the underwriting, processing, closing, and compliance areas.
Requires working knowledge of FNMA/FHLMC underwriting standards and seller/servicer guidelines.
Strong verbal and written communication skills, ability to effectively communicate with internal/external clients, and working knowledge of computer programs (Word, Excel, etc).
Why Work for Union Bank?
Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $97 billion at March 31, 2013. Its primary subsidiary, Union Bank, N.A., is a full service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank operated 443 branches in California, Washington, Oregon, Texas, Illinois, and New York as well as two international offices, on March 31, 2013. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE: MTU), one of the world's largest financial organizations. Visit
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- We are a financially strong and stable bank.
- We value workplace diversity.
- We are committed to the training and development of our employees.
- Innovative vacation benefits.
- We offer a matching 401k, a Retirement Plan, a variety of Flexible Health Benefits.
Union Bank is committed to leveraging the diverse backgrounds, perspectives, and experiences of our workforce to create opportunities for our people and our business. EOE. M/F/D/V. Union Bank offers a competitive compensation and benefits package including a 401K plan. Pre-employment background screening is required for all positions.
Union Bank is a full-service bank with offices across the United States. We provide a wide spectrum of corporate, commercial, retail banking...