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Senior Review Representative
Flagstar Bancorp
Troy, MI, United States
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Position TitleSr. Review Representative - Custodial
LocationHeadquarters-Troy, MI
Job Summary:
May perform Quality check of all pool review prior to reporting errors to the Shipping department and certification of agency pools per agency guidelines within their respective systems. This ensures that the Shipping department gets the best pricing negotiated for each pool trade. This position also handles the eNote transfer of control in the eVault ensuring all eCollateral is shown with proper control identification in the Evault. Completion of GNMA final certifications within the GNMA system to ensure the Bank is meeting the required deadlines so that we remain under the Letter of Credit thresholds. Resolution of all collateral related servicing sale exceptions to allow the Bank to meet our contractual obligations with our investors. Performs the required monthly agency pool Quality Control audits and reporting to FNMA, FHLMC and GNMA. If required to do the audit functions, the representative will not be doing any review or certification duties. Agencies require a specific percentage of all pools to be audited each month with resulting errors reported directly to management and the respective agency. This requires a complete audit of all pool data within the agency system as delivered by Flagstar’s Shipping Dept. The audit rep audits Flagstar’s review and certification processes and procedures to ensure all agency and Flagstar Custodial requirements are met. All must be done while meeting department production and quality standards.
Job Responsibilities:
• Pool Certification and error reporting including verification of eNote transfer of control.
• Monthly Agency QC audit, reporting and resolution for FNMA, FHLMC and GNMA.
• Resolution of collateral related servicing sale exceptions.
• Agency pool certification in all Agency systems.
• GNMA final certification in GNMA system.
• Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
Job Requirements:
• High School Diploma, GED, or foreign equivalent required.
• Custodial Receiving and Vault processes and Custodial Review processes required.
• 1 year of Custodial Review process experience required.
• Comprehensive understanding of mortgage documentation.
• Excellent verbal and written customer service skills.
• Strong technical and computer skills.
• Acute attention to detail.
• High level detailed understanding of agency Custodian guidelines.
• Excellent organizational and time management skills to meet high pressured deadlines.
• The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting.
For Internal use only: Job Band J-hrly