Quality Control Analyst (Mortgage Origination)

SERVION INC•New Brighton, MN

7h•$22 - $32•Onsite

About The Position

This professional and administrative role primarily involves performing post-closing and pre-funding quality control reviews of residential mortgage loans. The goal is to ensure compliance with all investor/agency guidelines, state and federal requirements, as well as lender-specific and client-specific overlays. The role requires reviewing credit, income documentation, calculations, and assets for accuracy and compliance to validate the underwriter’s loan approval. The analyst will fully assess the quality, eligibility, and compliance of selected loans assigned.

Requirements

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.
High School Diploma or GED
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.

Nice To Haves

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.

Responsibilities

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.
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.
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.