Senior Lending Quality Control Specialist - Waterford

Primary Function

Responsible for reviewing data to determine if lending processes and staff are meeting quality standards, adhering to regulations, established guidelines, policies, and lending authority for Consumer and Mortgage Lending. Performs ongoing reviews and generates reports summarizing results for lending management. Assists lending management in identifying trends, risks, and problem areas and recommends standards or procedures to improve performance. Ensures identified risks and or problems are clearly documented and interacts with appropriate parties for timely resolution.

Develops standardized quality control methods and develops training materials and/or conducts training sessions. Researches internal and external audit findings. Provides feedback to lending management concerning audit research and assists in developing responses. Collaborates with Audit and Compliance to ensure consistency with VACU policies and procedures while balancing appropriate risk tolerance.

• Performs an in-depth monthly review of loans processed and underwritten by all consumer, indirect, and equity processors and analysts to ensure compliance to guidelines and policies, as well as to ensure sound underwriting practices and consistency.
• Ensures applicable loan documentation was properly disclosed to members and signatures obtained on required documents. Ensures applicable loan documentation is present in the VACU system of record retention.
• Reviews member loan documentation for compliance with regulations, federal and state laws, lending policies, consumer lien perfection requirements and reports exceptions to management.
• Reviews lending limit changes made in the LOS. Verifies decisions made were reasonable. Reports findings to management.
• Performs a comparison between the Loan Estimate and the Closing Disclosure to ensure compliance with RESPA requirements on Equity Lines/Loans.

• Perform comprehensive prefunding quality control audits of loan origination and sub‑servicing operations for adherence to investor/insurer/guarantor guidelines (e.g., FHLMC, FNMA, FHA, VA, USDA, VHDA), state/federal regulation and in accordance with investor/insurer/guarantor requirements for content, timing and reporting.
• Prepares a report of 1st Mortgage loans that closed using VACU’s CUSO and reports results to Mortgage Lending Management.
• Perform annual financial filings for Fannie Mae, FHA, and private investors.
• Serves as primary contact and performs annual reporting and certification for MERS.
• Develops and maintains regular fair lending reviews (e.g., Underwriting, Pricing, Redlining, etc.).
• Audit denied Mortgage loans and adverse action letters to determine the reasons for rejection were valid and based solely on overall credit and collateral worthiness.
• Audit early payment default files to determine if loan met applicable guidelines and levels of risk were properly analyzed.

• Performs monthly HMDA reviews for both Mortgage and Equity Lending. Prepares and transmits data for quarterly and yearly submission.
• Researches and addresses Consumer and Mortgage loan exceptions for Audits. Provides feedback to lending management and assists in developing responses.
• Professionally communicates the results of quality control reviews to lending management in a timely manner.
• Serves as primary reviewer of appraisals to resolve collateral valuation disputes for both Consumer and Mortgage loans.
• Partners with Compliance to proactively provide guidance and risk assessment to the Consumer and Mortgage lending areas for upcoming compliance, regulatory and operational changes.
• Serves as a subject matter expert on projects relating to compliance, quality control and risk analysis as assigned.
• Partners with lending management, training, and project management areas to develop and conduct reoccurring or ad hoc compliance and quality control training.
• Partners with lending management to identify and address industry quality control trends. Develops new methods to ensure quality control.
• Demonstrates a strong sense of urgency by responding quickly to concerns discovered…