Description
GENERAL FUNCTION: A Quality Control Analyst II performs a wide range of duties related to the re-underwriting of mortgage and consumer loans. The analyst will be conducting the reviews post closing and will not have lending authority. Performs routine reviews of selected Mortgage and Consumer loans including complex transactions, to confirm the loans have been originated in compliance with the Bank\'s and investor underwriting requirements and the documentation standards and procedures set forth in the Quality Control Program.
DUTIES & RESPONSIBILITIES:
SEE ACTUAL JOB DESCRIPTION FOR ALL DUTIES & RESPONSIBILITIES
* Re-underwrites consumer real estate, non real estate and mortgage loans to confirm the transaction meets published Bank and Investor credit policy requirements. Description includes:
o Mortgage and Consumer real estate audits consist of complete re-underwrite, specifically reviewing all items pertaining to the approval of the mortgage file. The underwrite includes, but is not limited to: Income calculation for wage earning or self employed borrowers, ratio calculations, data integrity, credit report review, red flag for fraud or misrep review, collateral appraisal review, title work and hud-1 figures. The underwrite includes review of company products and policies which also requires knowledge of archived or dated guidelines as QC review is performed on a lagged basis.
o Consumer business line auto, signature, and bank card audits consists of complete re-underwrites to determine if data was submitted accurately and is documented according to published policies and guidelines.
* Audits more complex transactions including Jumbo, FHA, VA, Early Payment default and other high-risk targets as assigned.
* Performs re-verification of required documentation. Including (not limited to) completing verbal or written verifications of employment and deposit, ordering IRS transcripts, accessing and reviewing fraud prevention tools, updating credit reports, and appraisal reviews.
* Documents work and research performed. Prepares a clear, concise report of significant findings on a file-by-file basis and inputs these findings into the Quality Control database, to be distributed to appropriate internal parties.
* Completes investigation referrals for submission to Bank Protection upon discovery of any suspicious activity.
* Determines, records, and escalates the potential causes of any deficiencies noted throughout the course of the audit.
* As assigned by the QC manager or director, actively participates in the communication of the quality control findings. Including organizing and attending meetings, and recording meeting minutes and action items.
* Collaborates with other Quality Control personnel and provides research support for findings reported to management.
* May assist in the preparation of a report on the audit sample, making recommendations for appropriate corrective actions to reduce or prevent the occurrence of similar deficiencies in the future.
SUPERVISORY RESPONSIBILITIES: None
KNOWLEDGE & SKILLS REQUIRED:
* Associate's degree or equivalent experience in mortgage/consumer credit or quality control.
* Minimum 3 -years advanced level mortgage/consumer bank underwriting experience. Including previous quality control experience or advanced level loan processing experience that required underwriting decision authority.
* Minimum 3 years experience with Freddie Mac and Fannie Mae automated underwriting systems (LP and DU).
* Minimum 2 years FHA/VA mortgage underwriting, high level processing, or quality control experience.
* Knowledge of the fundamental concepts related to mortgage and consumer loan origination, process, underwrite, and closing and the ability to apply that knowledge in an audit function.
* Knowledge of the Bank's, Investors', Government and Underwriting Program requirements.
* Knowledge of all documents used by the Bank in the origination of FHA, VA and conventional loans.
* Good Computer skills with intermediate proficiency in Microsoft Outlook, Word, Excel and Access (or equivalent database reporting programs).
* Strong verbal and written communication skills.
* Strong analytical skills.
* Strong organizational and leadership skills.
* Ability to work efficiently with a low margin of error.
* Ability to work independently and meet deadlines.
Job type: Full Time
To Apply:
Sign up and submit your resume on Jobirn.
|
