Quality Control Analyst (Mortgage Origination)

SERVION INC; New Brighton (MN); On-site; USD 30,000 - 45,000; Full time

Benefits offered by this job

Medical Insurance

Dental Insurance

Vision Insurance

401k with company match

Job summary

The Servion Group is seeking a detail-oriented QC professional to perform post-closing and pre-funding reviews of residential mortgage loans for compliance with investor and regulatory guidelines.

You will analyze income/assets, recalculate ratios, and verify documentation, while supporting the origination team and QC partners to ensure timely completion of audits.

Qualifications

• Knowledge of mortgage loan origination, processing, underwriting and closing guidelines.
• Experience with credit, income, assets, AUS and investor requirements.
• Ability to recalculate income, ratios and liabilities accurately.

Responsibilities

• Perform post-closing/pre-funding QC reviews for compliance with guidelines.
• Audit loan files and cite concise audit exceptions for original underwriter review.
• Analyze AUS findings and manually underwrite when needed.
• Escalate fraud indicators and communicate issues to management.
• Coordinate with QC partners to complete required audit tasks on time.
• Assist with training and process improvements for origination QC.

Skills

Mortgage documents familiarity

Underwriting knowledge

DTI/LTV calculations

Familiarity with federal/state regs

Analytical skills

Microsoft Office proficiency

Attention to detail

Education

High School Diploma or GED

Tools

AllRegs

Excel

Job description

SUMMARY:

Professional and administrative work primarily involving performing post-closing and pre-funding quality control reviews of residential mortgage loans to ensure compliance with all investor/agency guidelines, state and federal requirements, as well as lender-specific and client-specific overlays. Perform review of credit, income documentation, calculations, and assets for accuracy and compliance in order to validate underwriter’s loan approval. Fully assess loan quality, eligibility, and compliance of selected loans assigned.

ESSENTIAL RESPONSIBILITIES & DUTIES:

Level I

• Supports the origination team by completing reviews and citing accurate, concise, and constructive audit exceptions.
• Works with the quality control team to complete all required audit tasks for each workgroup in a timely fashion according to prescribed QC turn times.
• Analyzes and re-underwrites individual loan files for compliance with federal and state regulations, lender conditions, and investor guidelines.
• Follows QC policies and procedures to ensure compliance with scopes of work.
• Effectively incorporates feedback and new regulatory training into upcoming reviews.
• Reviews employment/income and asset documentation for completeness and accuracy according to investor requirements.
• Recalculates income, ratios, and asset figures.
• Reviews credit reports and recalculate liabilities.
• Ensures reverification activity is performed and integrity of data used to qualify/approve the mortgage loan.
• Performs desk reviews of residential appraisals.
• Validates all loan documentation.
• Escalates red flags/evidence of fraud and/or misrepresentation to management immediately.

Level II

• Must be able to perform all responsibilities and functions listed for Level I with a high degree of independence.
• Able to analyze all different types of AUS findings as well as manually underwritten loans.
• Successfully completes denied/cancelled/withdrawn reviews.
• Able to monitor and assist with production management.
• Must be able to perform a full file review (i.e. compliance and underwriting review) for all audit types (PC, PF, DCW, etc.) and loan types (FNMA, FHLMC, FHA, VA, USDA, etc.)
• Successfully completes early payment default reviews.
• Engage in verbal and written communication with our credit union QC partners and internal Servion staff, as needed.
• Act as resource/subject matter expert for the origination QC team, Servion, and our credit union QC partners.

Level III

• Must be able to perform all responsibilities and functions listed for Levels I & II with a high degree of independence
• Assist with exception editing, file checks, and escalated fraud/misrepresentation reviews, as needed.
• Work with QC Manager on setting monthly and quarterly departmental goals for QC origination team and actively motivate and coach QC origination team to achieve those goals.
• Assists QC Manager and QC Origination Supervisor with recruiting, interviewing, and hiring of QC origination analysts, as needed.
• Aid in the creation and updating of origination QC policies, procedures, and training materials.
• Assist QC Manager with annual performance reviews for origination QC team, as needed.
• Lead, guide, mentor, and train entire origination QC team.
• Manage individual and department pipelines to ensure reviews are being conducted efficiently and effectively within the required turn-times.
• Ensure workload (origination QC production and remediation) is accounted for and properly distributed during times when staff are on PTO.
• Effectively communicate changes to Servion QC policy and procedures and ensure QC origination team is adhering to Servion QC's policy and procedures.
• Actively assist QC Manager in developing process improvements and efficiencies for origination QC team.
• Assist QC manager and QC origination supervisor with software related items, as needed.
• Other duties/special projects as assigned by the QC Manager.

ESSENTIAL KNOWLEDGE, SKILLS, ABILITIES:

Required:

• Familiarity with mortgage loan documentation, i.e., LE, CD, SSPL, Note, Security Instrument, closing documentation, AUS, etc.
• Knowledge of policies, principles, and practices of mortgage loan origination, processing, underwriting, and closing/funding, i.e. QM/ATR, Data Integrity, APR, RESPA, TILA, ECOA, FCRA, HMDA, etc.
• Experience with automated underwriting systems and reviewing/clearing UW conditions, i.e.. DU, LP, GUS.
• Experience calculating underwriting ratios and recalculating income (DTI, LTV, CLTV).
• Familiarity with federal, state, and investor/agency requirements regarding residential mortgage lending.
• Ability to multitask and adapt to modifications in workflow efficiently and effectively.
• Ability to prioritize in a high volume, high paced dynamic environment.
• Demonstrated critical thinking skills.
• Strong analytical skills with a high attention to detail.
• Proficient in Microsoft Office applications (i.e., Excel, Teams, Outlook, Word, etc.)
• Strong written and verbal communication skills.
• Works well with others in a team environment as well as independently.

Preferred:

• Encompass experience.
• Underwriting experience.
• Strong working knowledge of TRID.
• Red flag/fraud investigation experience.
• Experience researching rules and regulations, i.e., utilizing AllRegs.
• Residential appraisal review experience.
• Experience with analyzing insurance and escrows.

COMPENSATION: $21.89 – $32.32 per hour

The Servion Group has provided a salary range that represents its good faith estimate of what the company may pay for the position at the time of posting. The specific salary offered will be determined based on factors such as the qualifications of the selected candidate, departmental budget, internal salary equity considerations, and available market information.

General Description of Benefits:

All full-time employees are eligible for Medical Insurance, Telehealth Services, Dental Insurance, Vision Insurance, Life Insurance, Short-term Disability, Long-term Disability, Legal and Identity Theft Protection, Critical Illness Insurance, Hospital Insurance, Accident Insurance, Participation in 401k Plan with up to 5% company match, and Discretionary Bonus Possible but not guaranteed.

Requirements

Preferred Qualifications

• Education: High School Diploma or GED
• Experience: 2+ years of QC, post-closing, compliance, and/or underwriting experience with FHA, VA, USDA, FNMA, FHLMC, and FHLB guidelines or equivalent knowledge and experience.
• Licenses/Certifications: None