City National Bank · 14 hours ago
Prefunding Quality Assurance Underwriter
Arizona, United States
Full-time
Onsite
Mid, Senior Level
$87K/yr - $139K/yr
5+ years expCity National Bank is a financial institution founded in 1954, dedicated to helping clients and communities flourish. They are seeking a Prefunding Quality Assurance Underwriter to perform thorough underwriting reviews, ensuring loan quality and compliance with Fannie Mae guidelines while mitigating risks before loan closing.
BankingFinanceFinancial Services
Responsibilities
Conduct full prefunding QA underwriting reviews on selected loans post-conditional approval but pre-closing, including analysis of credit, capacity, collateral, compliance, and legal documents to verify accuracy, completeness, and eligibility per Fannie Mae Selling Guide D1-2-01 and D1-2-02 requirements
Perform reverifications of borrower data (e.g., employment via verbal verification, income, assets, occupancy, sources of funds) using independent third-party sources to identify material misrepresentations, fraud, or risks, in line with Fannie Mae guidelines for early detection
Review appraisals and collateral using Fannie Mae tools like Collateral Underwriter (CU) and Form 1033 to assess property valuation risks and integrate findings into defect evaluations
Identify and classify defects according to the organization's defect taxonomy and severity levels, documenting findings with clear evidence and recommendations for immediate corrective actions before funding
Participate in the QA cycle, including initial reviews, management rebuttals, and final determinations, ensuring timely completion to allow for pre-closing resolutions as recommended by Fannie Mae
Analyze loans from various channels, including third-party originations (TPOs), with targeted focus on high-risk attributes (e.g., complex income, high LTV/DTI ratios, low credit scores, or fraud indicators)
Utilize QA tools such as Fannie Mae's Loan Quality Connect (LQC), Desktop Underwriter (DU) for underwriting validation, Quality Insider for defect insights, and Ask Poli for policy research, alongside vendor tools like ACES Quality Management or LoanLogics for automated reviews and analytics
Contribute to root cause analysis for identified defects, supporting the development of corrective action plans and process improvements
Maintain accurate documentation of all reviews, findings, and reverifications, ensuring records are retained for at least three years and available for Fannie Mae or regulatory audits
Collaborate with the QA Manager and team to track defect trends, report findings, and promote a culture of quality through calibration sessions and training
Qualification
Required
Bachelor's degree in Finance, Business Administration, or a related field preferred; relevant certifications (e.g., DE Underwriter certification) a plus
5-7 years of experience in mortgage underwriting or quality assurance, with a focus on prefunding reviews
Preferred
Strong knowledge of Fannie Mae's Selling Guide (Part D) and Beyond the Guide, including prefunding QA review processes, sampling, reverifications, defect classification, and reporting
Expertise in mortgage loan origination guidelines, regulatory compliance (e.g., federal lending laws, anti-fraud measures), and risk assessment
Proficiency in QA and underwriting tools, including Fannie Mae's Loan Quality Connect (LQC), Collateral Underwriter (CU), Desktop Underwriter (DU), Quality Insider, and Ask Poli; experience with vendor tools such as ACES Quality Management, LoanLogics, or equivalent
Excellent analytical and problem-solving skills, with attention to detail for identifying defects and trends
Effective communication skills for documenting findings and collaborating with teams
Ability to work in a fast-paced environment while maintaining accuracy and meeting deadlines
Benefits
Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
Generous 401(k) company matching contribution
Career Development through Tuition Reimbursement and other internal upskilling and training resources
Valued Time Away benefits including vacation, sick and volunteer time
Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
Career Mobility support from a dedicated recruitment team
Colleague Resource Groups to support networking and community engagement
Company
City National Bank
City National Bank offers a full complement of banking, trust and investment services. It is a sub-organization of City National.
1001-5000 employees
H1B Sponsorship
City National Bank has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (76)
2024 (78)
2023 (145)
2022 (93)
2021 (107)
2020 (62)
Funding
Current Stage
Public CompanyTotal Funding
unknown1978-01-13IPO
Leadership Team
Howard Hammond
CEO City National Bank
Fiyaz Khan
Senior Vice President, Structured Products
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