Perform requirements of the Home Loans Quality Control Program to discover errors and omissions with regards to single-family loans in order to provide accurate, effective and timely feedback to management concerning required improvements and provide accurate, effective, and timely service to the customer. Assist Home Loan Production management with compliance-related issues as necessary.
ESSENTIAL DUTIES & RESPONSIBILITIES include the following; other duties may be assigned.
Review file documentation to verify compliance with Bank, regulation, and investor requirements (conventional, FHA, VA, USDA, and state bond programs).
Make sure all documents are complete, accurate, and scanned to the file.
Compare loan documentation to loan operating system and reported HMDA data and analyze data to correct inaccuracies.
Report results of Quality Control review to management.
Assist the Quality Control Manager with the Quality Control Program for home loan origination.
Review loans for flood insurance before closing to ensure they meet regulatory and investor requirements.
Monitor active pipeline to ensure loan notes meet company policies.
Maintain a thorough understanding and performs reviews to ensure all applicable lending compliance regulations are adhered to, up to and including but not limited to:
HMDA, FCRA, REG Z, Fair Housing, ECOA, Biggert-Waters Flood Insurance Reform, and applicable state laws, lending and banking regulations
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or EXPERIENCE
High School diploma or general education degree (GED) and one or more years of related experience and/or training/education required. Experience with mortgage underwriting, knowledge of investors’ selling guides, and experience working with a third-party vendor preferred.
Demonstrate a working knowledge of the mortgage servicing function, quality control for servicing, and compliance regulations as they relate to real estate lending. Advanced Excel knowledge required. The ability to prepare reports and memos. A background in compliance is preferred.
Ability to meet deadlines. Must be able to meet all requirements of the servicing and origination quality control plans accurately and timely. Ability to communicate with various levels of management, employees, and coworkers in a friendly and courteous manner.
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; reach with hands and arms; lift and/or move up to 10 pounds, and talk or hear. The employee is occasionally required to stand; walk; and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 25 pounds.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate.