Sup, Purchase Review Audit

Pennymac Tampa , FL 33602

Posted 2 months ago


Supervises the Correspondent Purchase Review Audit department include supervising a team of Purchase Review Auditors who review, analyze and evaluate documentation received from Correspondent customers for purchase and ensures document accuracy, compliance and credit quality of residential mortgage loans (conventional conforming, conventional high balance, FHA, VA and Jumbo). Supervisor will ensure the accurate and timely audit of residential mortgage loans. Continually identifies and facilitates implementation of improved polices, procedures, tools and systems changes to reduce audit cycle time, ensure zero errors/defects in auditing loans and deliver excellent customer service to external clients as well as internal departments.

Ask us about our signing bonus for this position! (Eligible for applicants from 4/1/2020 to 9/1/2020)

Job Description

  • Defines policies and procedures to cost-effectively assess the saleability and serviceability of the loan files using pre-determined Audit Checklists.

  • Monitors adherence to defined policies and procedures and implements any corrective actions to ensure ongoing adherence.

  • Interacts with external clients and document custodian to ensure timely delivery and review of the collateral documents so as to ascertain proper and timely transfer of collateral from Sellers to PennyMac.

  • Acts as Correspondent Channel's Liaison with company's servicing department in order to stay on top of their documents and data requirements so that purchased loans can be readily serviced by the servicing department.

  • Manage the policies, procedures and process to ensure smooth hand-off of outstanding document issues to the Post Closing department so that the Post-Closing department can efficiently manage the collection of the outstanding documents from company's external clients.

  • Continually provides outstanding customer service, monitors surveys customers.

  • Interacts with PennyMac's Treasury department and Seller's Warehouse Lender(s) to ensure that funds are wired to the authorized bank accounts.

  • Co-ordinates with the Treasury department to ensure timely availability of cash to enable timely purchase of loans.

  • Co-ordinates with accounting to deliver data necessary for accurate accounting of purchased loans.

  • Co-ordinates Post-Funding adjustment function with Treasury, Accounting and Servicing for accurate recordation of post-funding adjustments

  • Ensures that all loans are purchased in accordance with PennyMac's rate lock and commitment policies.

  • Actively manages the funding pipeline to shorten the funding/purchase cycle time and thus to maximize company's interest spread income.

  • Perform other related duties as required and assigned

  • Demonstrate behaviors which are aligned with the organization's desired culture and values

Ideal Candidate will have the following:

  • Must be highly proficient in Excel and Word

  • Must be a team player with strong attention to detail and able to work independently

  • Proven track record at delivering timely and accurate information in a fast-paced environment

  • Excellent critical thinking, problem solving, mathematical skills and sound judgment

  • Financial Services and, if possible, mortgage industry experience preferred

  • Strong business acumen and ability to interface with executive management

Years of Experience:



Bachelor's Degree

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Sup, Purchase Review Audit