Senior Mortgage Quality Control Analyst

Ernst & Young LLP ( EY India ); Bengaluru; On-site; INR 1,200,000 - 1,500,000; Full time

Job summary

EY India in Bengaluru is seeking a Senior Mortgage QC Analyst to perform post‑underwriting reviews of US residential loans, evaluate underwriting accuracy, and ensure compliance with investor and regulatory guidelines.

You will validate FOIR/DTI, LTV, borrower documents, and collateral; collaborate across underwriting, policy, and compliance to drive remediation and quality improvements.

Qualifications

• MBA/CA or equivalent with 3–8 years of mortgage QC/underwriting experience.
• Strong analytical skills with loan file review and underwriting validation.
• Advanced Excel skills; exposure to Power BI or SQL is an added advantage.

Responsibilities

• Perform pre-funding and post-funding QC reviews of residential mortgage loan files to ensure accuracy, completeness, and policy compliance.
• Independently validate key underwriting calculations, including FOIR/DTI, LTV/CLTV, income calculations, and borrower eligibility criteria.
• Review borrower documentation such as income proofs, employment verification, bank statements, tax returns, and credit bureau reports to assess consistency and accuracy.
• Validate collateral‑related documents including property appraisals, title reports, insurance, and legal documentation for compliance with lending guidelines.
• Assess adherence to investor and regulatory requirements (e.g., Fannie Mae, Freddie Mac, FHA, VA guidelines) and internal credit policies.
• Identify, document, and classify QC findings (defects) based on severity levels; perform root cause analysis and highlight control gaps.
• Reconcile underwriting decisions by re‑performing key credit assessments and highlighting discrepancies in credit approval decisions.
• Track and report defect trends, recurring issues, and process gaps across reviewed files to support continuous improvement initiatives.
• Prepare QC reporting outputs including detailed review summaries, dashboards, and management reports for stakeholders.
• Collaborate with underwriting, operations, credit policy, and compliance teams to discuss findings and support remediation actions.
• Participate in calibration exercises and quality assurance processes to ensure consistency in QC review standards and defect grading.

Skills

Strong analytical skills

Advanced Excel skills

Education

MBA/CA or equivalent

Tools

Power BI

SQL

Job description

FS RC-FSRM - CSTC-MORTGAGE QUALITY ASSURANCE-QUALITY CONTROL-SENIOR

At EY, you’ll have the chance to build a career as unique as you are, with the global scale, support, inclusive culture and technology to become the best version of you. And we’re counting on your unique voice and perspective to help EY become even better, too. Join us and build an exceptional experience for yourself, and a better working world for all.

Risk Consulting – Financial Services Risk Management (FSRM) Mortgage Quality Control (QC) Analyst – Staff / Senior Consultant Description

EY's Financial Services Office (FSO) is a unique, industry-focused business unit that provides a broad range of integrated services that leverage deep industry experience with strong functional capability and product knowledge. FSO practice provides integrated consulting services to financial institutions and other capital markets participants, including commercial banks, investment banks, broker-dealers, asset managers (traditional and alternative), insurance and energy trading companies, and the Corporate Treasury functions of leading Fortune 500 Companies. The service offerings provided by the FSO Consulting include: market, credit and operational risk management, regulatory consulting, quantitative consulting, structured finance transaction, actuarial consulting, technology enablement, risk and security, program consulting, and process & controls.

Within EY’s Risk Consulting Practice, the Financial Services Risk Management (FSRM) group provides solutions that can help FSO clients to identify, measure, manage and monitor the market (trading book), credit (banking book), operational, and regulatory risks associated with their trading, asset‑liability management, capital management and other capital markets activities.

Role Overview

As part of the Mortgage Quality Control (QC) team, the Analyst will perform independent post‑underwriting and post‑funding reviews of US residential mortgage loans to evaluate the accuracy of underwriting decisions, adherence to internal credit policies, and compliance with investor and regulatory requirements. The role involves detailed examination of approved and funded loan files to identify underwriting deficiencies, documentation gaps, and control weaknesses, while providing actionable insights to enhance mortgage credit quality, operational processes, and overall risk management frameworks.

Core Responsibilities

• Perform pre‑funding and post‑funding Quality Control (QC) reviews of residential mortgage loan files to ensure accuracy, completeness, and policy compliance
• Independently validate key underwriting calculations, including FOIR/DTI, LTV/CLTV, income calculations, and borrower eligibility criteria
• Review borrower documentation such as income proofs, employment verification, bank statements, tax returns, and credit bureau reports to assess consistency and accuracy
• Validate collateral‑related documents including property appraisals, title reports, insurance, and legal documentation for compliance with lending guidelines
• Assess adherence to investor and regulatory requirements (e.g., Fannie Mae, Freddie Mac, FHA, VA guidelines) and internal credit policies
• Identify, document, and classify QC findings (defects) based on severity levels; perform root cause analysis and highlight control gaps
• Reconcile underwriting decisions by re‑performing key credit assessments and highlighting discrepancies in credit approval decisions
• Track and report defect trends, recurring issues, and process gaps across reviewed files to support continuous improvement initiatives
• Prepare QC reporting outputs including detailed review summaries, dashboards, and management reports for stakeholders
• Collaborate with underwriting, operations, credit policy, and compliance teams to discuss findings and support remediation actions
• Participate in calibration exercises and quality assurance processes to ensure consistency in QC review standards and defect grading

Domain Skills Required

• Strong understanding of US residential mortgage products (conventional, FHA, VA, jumbo, etc.) and underwriting frameworks
• Experience in mortgage QC/QA including pre‑funding and post‑closing reviews, defect identification, and compliance validation
• Knowledge of underwriting guidelines such as Fannie Mae, Freddie Mac, and agency lending standards
• Familiarity with QC methodologies including defect grading, sampling, re‑performance of underwriting, and root cause analysis
• Ability to analyze borrower financials (income, assets, liabilities) and validate underwriting calculations
• Experience in preparing structured QC reports, trend analysis, and management‑ready findings

Qualifications, Certifications and Education

• Must‑have: MBA/CA or equivalent with 3–8 years of experience in mortgage QC, underwirting, or retail credit roles.
• Strong analytical skills with experience in loan file review and underwriting validation
• Advanced Excel skills; exposure to reporting tools such as Power BI or SQL is an added advantage
• Strong communication skills with ability to clearly articulate QC findings and recommendations
• Good‑to‑have: Certifications such as CFA, FRM, PRM, or mortgage‑specific certifications
• Experience with Loan Origination Systems (LOS) and underwriting platforms
• Exposure to regulatory audits, QC audits, or internal control testing environments

EY | Building a better working world

EY exists to build a better working world, helping to create long‑term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

Experience Level Senior Level