QA Auditor

Overview

QA Auditor
Job Description I.
OVERVIEW: This position works as part of the Compliance team in the Quality Control Department on assigned pre-funding audits, post-funding audits, including discretionary audits. Responsibilities include reviewing mortgage loans prior to or post funding for adherence to company standards, agency guidelines and regulatory compliance laws. The position responsibility includes the preparation and distribution of audit exception notifications, reports and communicating audit exceptions to appropriate business units;

and facilitating corrective action as appropriate.

• The documentation review will include a review of the entire loan file using an audit software (question based), LOS and QA Loan Selection Portal to determine whether all items requiring documentation have been properly evidenced and are retained in the file.
• The auditor will review the mortgage file documents, to confirm that the file was properly underwritten based on best practices and sound underwriting judgment. The review will include recalculating debt ratios, a credit analysis and verification of compliance with program and agency guidelines, source of funds and income documentation and confirmation that underwriting conditions were met.
• Ensure production complies with company s policies/procedures; agency requirements; compliance/ TRID requirements; state/federal regulations; and insurer/guarantor requirements.
• Identify potential red-flags or areas of concern regarding eligibility requirements. Report any red-flags or misrepresentation concerns to Fraud Management.
• Demonstrate proficiency in automated underwriting applications and ability to assess results.
• Review appraisal for accurate property valuation.
• Ensure documentation is appropriate to support credit decision.
• Communicate with Operations (Underwriting, Closing, and Processing) regarding QA conditions.
• Works with third party QC Findings and Responses, reviewing and responding as necessary.
• Works with third party QC Vendor to obtain reviews, final reports in accordance with investor and GSE requirements.
• Maintains a professional image and adheres to the standards consistent with the company policies and procedures.
• Other duties/responsibilities, as assigned.

• Minimum 5+ years of broad mortgage and consumer products background required.
• Underwriting experience preferred.
• Conventional, FHA and VA loan experience is required.
• Knowledge of applicable federal regulations and state laws a plus.
• Ability to prioritize and decipher policies, programs and guidelines.
• Strong attention to detail, organizational and communication skills.
• QC/QA experience is preferred.
• Self-motivated, high level of personal energy and commitment.
• Ability to handle multiple tasks, take on new responsibilities and prioritize work in a deadline-intensive environment.
• Bachelor’s Degree preferred.

Disclaimer: The above statements are intended to describe the general nature and level of work being performed by individuals in, or assigned to, the above position and are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required, and may be changed at the discretion of the company.