Remediation Specialist - Correspondent Underwriting

Job Description

The Remediation Specialist will be responsible for resolving issues related to mortgage loan defects. The role requires strong technical knowledge of investor and agency guidelines, income analysis and high-risk property appraisal reviews. The Remediation Specialist will be responsible to resolve loan deficiencies and offer tailored alternatives that meet regulatory compliance and mitigate exposure.

Job Functions and Responsibilities :

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.

• Perform quality work within deadlines with or without direct supervision
• Work independently while understanding the necessity for coordinating work efforts with other employees and organizations
• Ensure adherence to investor, PHH, and regulatory guidelines; identify and resolve discrepancies through cross-functional collaboration.
• Stay current on Agency guidelines and regulatory changes
• Provide technical expertise via evaluation and recommendation of FHA, VA and Conventional loan defects
• Review and analyze mortgage loan defects to ensure accuracy, with internal and regulatory guidelines to minimize risk factors eligibility
• Assist with reduction of suspended loans
• Ability to perform a cash flow income analysis and compare findings to those provided to identify discrepancies or inconsistencies
• Review and resolve complex quality defects within required SLA by offering solutions / alternatives that meet investor guidelines for defect remediation
• Ability to translate complex requirements into clear engaging language
• Provide responses to Quality Assurance, Quality Control and 3rd party audits
• Respond to elevated loan questions and issues from team players and account executives.
• Review guideline exceptions with internal parties to ensure salability of closed loans - interaction with Credit Policy and Secondary.
• Review high-risk property appraisal reports according to agency and investor guidelines

Qualifications :

To perform this job successfully, an individual must have the following education and / or experience :

Training / Licensing Requirements :

The salary range for this position is expected to be $80,000 - $100,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate.

About Us

Onity Group Inc. is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage.

PHH Mortgage, a subsidiary of Onity Group Inc., has been providing mortgage lending and servicing solutions since 1984 and is dedicated to maintaining responsible and ethical practices while delivering an exceptional customer experience. PHH offers industry-leading mortgage solutions for the entire mortgage lifecycle, including correspondent lending, MSR / Co-Issue, subservicing, commercial servicing, reverse mortgages and portfolio retention. We are one of the largest subservicers of residential mortgages in the United States and one of only two servicers in reverse mortgage lending.

At Onity Group Inc., we consistently deliver on our commitments to customers, clients, investors and colleagues through caring service, integrity and creative solutions. This Service Excellence philosophy is embraced by meeting service standards we call CARE, which stands for Caring, Accurate, Responsive and Empowered. We expect all employees to interact and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our CARE standards.

Onity Group Inc. is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity, Equity & Inclusion ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.

Onity Group Inc. offers a comprehensive benefits package including medical, dental and vision; up to 3% match on 401(k) contributions; generous paid time off; company-paid life, accident and disability coverage; programs for mental, physical and financial wellness; and more. Visit jobs.onitygroup.com for details.