Job Information
Flagstar Bank Correspondent Suspense Representative II - 15228_HI in Honolulu, Hawaii
DESCRIPTION/RESPONSIBILITIES: Position Title Correspondent Suspense Representative II
Location Work From Home United States
Job Summary This position is responsible for determining the acceptability of documentation submitted to cure conditions (errors and omissions) on Correspondent loans to ensure they are eligible for purchase. This position should also identify errors that may have occurred in the Post Closing/Delegated Purchase Review and items resulting from newly submitted documentation that may make the loan ineligible for purchase and/or require additional conditions for resolution.
The Representative II must have knowledge of both conventional and government underwriting (agency and FSB overlay) guidelines, policies and procedures. This position also requires knowledge of investor regulations including TILA-RESPA, compliance tolerances and how to properly apply tolerance cures as well as the ability to properly explain the more complex details of the predatory compliance failures. These skills help to lessen the risk of repurchase from agencies and investors.
This position requires a high level of customer service skills to preserve positive relationships with Correspondent customers and sales/internal partners which requires both verbal and written outbound/inbound communication. Representative IIs also support Flagstar's Business Partner Advocate group in the prompt clearing of conditions and by providing specific guidance and detail on the resolution of conditions.
This position may also be required to assist the Post Closing Loan Review department by performing the initial Purchase Review. Defined production standards must be adhered to while maintaining a high level of quality.
The Representative II role is responsible for managing their assigned regional inbox within established Service Level Agreement turn times. This role requires proactive management of aging suspense pipeline loans and determining if alternate solutions are available to make the loan eligible for purchase.
The Representative II will be utilized to train and mentor new hire and/or existing employees on all aspects of the Representative I and/or II role as well as the Post Closing Loan Review role. This position will also serve as an auditor to these employees during their training and/or mentoring.
Pay Range: $16.31 - $22.87 - $29.44
Job Responsibilities: * Manage regional inbox and communicate with correspondent customers and sales/internal partners regarding acceptable cures for conditions; Management of aging suspense pipeline loans and determining if alternate solutions are available * Determine acceptability of documentation submitted to cure conditions and ensure loan is eligible for purchase. * Train, mentor and audit Suspense and/or Loan Review staff * Identify errors made during purchase review or as a result of submitted documentation and assign conditions for resolution * Assist the Post Closing Loan Review department by performing the initial purchase review
Equal Opportunity Employer-minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity