About Rate Companies:
Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, the Rate Companies has more than 7,000 employees in over 850 branches across the U.S., serving all 50 states and Washington, D.C. Since its launch in 2000, Rate Companies has helped more than 1 million homeowners with home purchase loans and refinances, with a total loan volume of more than $116 billion in 2021 alone. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates and delivering unparalleled customer service. Honors and awards include: Top Lender for Online Service for 2018 by U.S. News & World Report; Best Mortgage Lender for Online Loans and Best Mortgage Lender for Refinancing by NerdWallet for 2021; HousingWire’s 2020 Tech100 award for the company’s industry-leading FlashClose technology; No. 3 ranking in Scotsman Guide’s 2021 list of Top Retail Mortgage Lenders; Chicago Agent Magazine’s Lender of the Year for six consecutive years; and Chicago Tribune’s Top Workplaces list for seven consecutive years. Visit rate.com for more information.
We are currently seeking an experienced Fraud Risk Analyst, primarily with a mortgage underwriting or mortgage quality control background. This will be a full-time position in a paperless environment for all loan files, which allows for the employee to work from home (remote). Training will be provided via remote access as well.
Pay Range: $60,000-$80,000 annually
Responsibilities include but are not limited to the following:
Evaluate mortgage loans for suspected fraudulent activity, potential misrepresentation and/or suspicious activities related to the origination, underwriting, or servicing of mortgage loans.
Identify fraud schemes or patterns identified through monitoring or referred for investigation by business partners.
Examine financial statements and documents to identify unusual transaction patterns.
Submit recommendations for Suspicious Activity Reports to the Special Investigations Unit.
Document investigative efforts in compliance with internal policy and regulatory requirements.
Apply analytical skillsets to complex information sets to make logical and effectively supported recommendations.
Leverage investor related guidelines to assist in determination of red flags or potentially suspicious activity.
Conduct interviews with the employees, applicants, and third parties to support and/or mitigate the suspicious activity.
Develop practical recommendations and communicate with business partners on pending investigations.
Assist with the review of possible matches to various exclusionary lists including, government, agency, investor and internal.
Assist with the maintenance and development of Fraud monitoring related policies, procedures, and trainings
Additional duties as assigned by management.
Requirements:
College degree preferred
2+ years of mortgage industry experience
Fraud Investigations experience preferred
Mortgage processing or underwriting background preferred
BSA/AML knowledge
Must be familiar with Freddie Mac and Fannie Mae guidelines and must be able to actively keep up with changing guidelines (FHA and VA experience a plus).
Strong ability to analyze large amounts of data to report critical information.
Proven researching and problem-solving skillsets.
Excellent time management skills and ability to prioritize and organize assignments.
Must be proficient with MS Office (Word, Excel, PowerPoint and Outlook).
Must have strong written and verbal communications skills
Must have strong analytical skills, with a high degree of accuracy and a strong attention to detail.
Use of discretion and confidentiality
Preferred:
Strong knowledge of high-risk characteristics in relation to Mortgage Fraud
A minimum of 3 years recent mortgage banking experience, primarily in mortgage fraud schemes
Experience working in Encompass
Experience working in case management systems
Experience in completing Suspicious Activity Reports
CAMS, CFE, or other fraud/ anti-money laundering certifications
Rate is an Equal Opportunity Employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason protected by law.
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