Job Description

Appraisal Review Specialist

Position at loanDepot

Position Summary:

Responsible for performing desk reviews on appraisal reports for various loan programs that are completed by licensed independent appraisers. Reviews data to decide whether reports meet eligibility guidelines for investors, regulators, and applicable industry standards. High emphasis on ROVs, Undervaluation, and High Risk.

Responsibilities:

• Maintain compliance with regulatory requirements including AIR.
• Maintain continuing education requirements for State Licensing/Certification.
• Perform reviews on appraisal reports completed by third party appraisers using a loanDepot approved review process and worksheet, as well as reviews of other valuation services as determined by management.
• Reviews data to assess overall collateral risk and identifies investor eligibility items for underwriting review and clearance.
• Identifies and evaluates other data sources to address possible Undervaluation, Overvaluation, comparable selection and adjustment, as well as data integrity issues that could impact investor evaluation of the collateral and valuation analysis.
• Adds loan conditions, updates required fields, confirm document and data delivery into each loan file in LOS system in addition of collateral management system when additional items are need by either appraisal or underwriting group and updates.
• Follows up on open appraisal conditions using a pipeline report and clears open conditions proactively.
• Performs appraisal "Reconsideration of Value" and/or appeals following the loanDepot approved process and determines whether original appraisal reports are deficient.
• Follows escalation process when appraisal reviews require management review.
• Develops communication with appraisers, AMCs, internal teammates, and customers that meet company standards and provides clear direction and status details.
• Performs escalated reviews and/or desk reviews on files deemed to have high risk attributes consistent with loanDepot's approved process.
• Performs reviews on post-closing files deemed to be deficient through QC/QA or other investor audit consistent with loanDepot's approved process.

Requirements:

• 5 years minimum experience as a licensed appraiser.
• Current state license/certification as an appraiser in the Mortgage industry with good standing required.
• Extensive experience with ROVs, as well as High Risk reviews and undervaluation.
• Proficiency or demonstrated ability to learn Fannie Mae's Collateral Underwriter and Freddie Mac's Loan Collateral Advisor software.
• Ability to use applications such as SharePoint, Empower and Corelogic CMS and other data repository, databases, and appraisal tools.
• Ability to independently analyze and critically review data.
• Bachelor's Degree preferred.

Why work for loanDepot:

• Compensation package based on experience and skill set.
• Inclusive, diverse, and collaborative culture where people from all backgrounds can thrive.
• Work with other passionate, purposeful, and customer-centric people.
• Extensive internal growth and professional development opportunities including tuition reimbursement.
• Comprehensive benefits package including Medical/Dental/Vision.
• Wellness program to support both mental and physical health.
• Generous paid time off for both exempt and non-exempt positions.

About loanDepot:

loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster, and less stressful to purchase or refinance a home. Today, as the nation's second largest non-bank retail mortgage lender, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional, and national philanthropic efforts.

Base pay is one part of our total compensation package and is determined within a range. This provides the opportunity to progress as you grow and develop within a role. The base pay for this role is between $27.00 and $47.00/hr. Your base pay will depend on multiple individualized factors, including your job-related knowledge/skills, qualifications, experience, and market location.

We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

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