Quality Control Auditor II

Xactus•Broomall, PA

8d•Remote

About The Position

Xactus is seeking two (2) QAQC Auditor II to join its team. This position is primarily responsible for quality control audit re-underwriting review of closed loans. The Quality Control Auditor will capture loan data as specified in the Quality Control system, comment on deficiencies as necessary and grade loans accordingly. These are full-time positions, Monday through Friday, 8:30-5pm or 9-5:30pm (hours are amenable to candidate time zones). The starting salary for the position is $75,250. Work equipment is provided.

Requirements

A minimum of 5-10 years mortgage underwriting/audit experience
Bachelor’s degree in business, or related field; or equivalent work experience.
Knowledge of Fannie Mae, Freddie Mac, FHA, and VA lending requirements and lending compliance.
Excellent verbal and written communication skills.
Sound decision and judgment making skills.
Ability to read, analyze, and interpret common mortgage and financial documentation.
Ability to effectively document and explain specific mortgage loan defects in a concise but thorough manner.
Use of proper grammar and spelling is a must.
Ability to apply advanced mathematical concepts such as calculating complex income scenarios, liabilities and overall ratios for any given loan.
Ability to apply mathematical operations to assess credit eligibility criteria as required for agency underwriting approval.
Ability to define problems, collect data, establish facts, and draw valid conclusions.
Ability to perform self-directed research using agency guidelines, regulatory policies and state level compliance guidelines
Candidates must be a resident of the United States, and should be authorized and eligible for employment in the United States.
Employment is contingent upon successful completion of required background checks (including but not limited to federal and state criminal history checks, employment history verification, education verification, credit history check) and pre-employment drug screening.

Responsibilities

Complete credit re-underwrite on all loan files pursuant to AUS findings or manual loan approvals.
Analysis of property appraisal to determine if value is supported and property meets all eligibility requirements
Analysis and recalculation as required of all borrower income sources.
Analysis of borrower’s debt load and calculation of debt to income ratio.
Make determination that loan elements are acceptable to appropriate investor guidelines.
Must be able to seek out and identify potential misrepresentation and fraud.
Identify any potential defect trends noted within a particular QC period or series of periods.
Interpret the results of any re-verifications received at the time of the QC review and cite defects accordingly
Enter defined loan data into Quality Control system
Complete review of all closing documents and disclosures on all loans files, as able
Analysis of Note, Mortgage, and Assignment with emphasis on accuracy.
Check file for all legal documents.
Perform appropriate High Cost, APR, Amount Financed, and State Predatory tests in the Compliance Review system.
Comment on loan inaccuracies, deficiencies, and missing items
Assign loan level defects pursuant to the severity and type of deficiency with an emphasis on overall investor and agency risk.
Ability to consistently meet and exceed daily productivity goals
Ability to achieve and maintain quality standards.
Maintains consistent schedule for training and mentoring with QC Auditor II or above.
Performs other duties as required.