Job details
Job type full-time
Full job description
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Job description and requirements
We are currently seeking an mortgage quality control analyst for the administrative service center - live oak, texas or work from home if not located near this rbfcu locationApplicants who decide to work from home must reside within the state of texas and have the capability of performing all of the work from their home in texas.
The mortgage quality control analyst will work in partnership with the avp of mortgage compliance and quality control to help identify and remedy individual and group trends to ensure that policies and procedures are being followed and remain in complianceIn addition, this person will document testing of these procedures through pre-funding and post closing reviews, as ongoing verification to ensure that rbfcu is complying with federal and state regulationsThe mortgage quality control analyst serve as a checks and balances to ensure loan quality and guidelines on all products, including portfolios, are being met.
Essential functions & responsibilities:
Review post decisioned loan files to ensure all existing mortgage products meet guidelines, process, policies and procedures requirements.
Review the underwriter`s decision for accuracy, in accordance to the appropriate terms, conditions, etc.
Thoroughly evaluate borrower income relative to financial obligations, adequacy of credit quality and history, the source of funds, the security of the subject property, and loan terms.
Ensure that all required items are provided, validated/verified in accordance with company policies and procedures, state and federal regulations.
Ensure accuracy of loan disclosures and documentation.
Calculate loan to value (ltv) and other ratios accordingly.
Run the file through automated underwriting systems (aus), such as du, when applicable.
Review the application and information in the loan origination software (los) for accuracy.
Request items necessary to complete the submission or to qualify for the program.
Provide explanation to the appropriate parties on items found.
Ensure that all relevant and necessary information needed is communicated and provided properly through the los including, but not limited to, loan approval date, conversation logs, appraisal information, hmda and credit information, conditions, worksheets, mi, suspense, denial, and incomplete dates and milestones as appropriate.
Prepare a monthly report of findings to help identify the root cause of problems identified within review.
Perform special reviews in accordance with procedures, as assigned.
Remain current with regulatory changes from government/state agencies, as well as policy changes from agencies and rbfcu policies and procedures.
Excellent writing and verbal communication skills, as well as attention to detail with an emphasis on accuracy.
Requirements:
Some college/associate`s degree or 1-3 years experience specifically in mortgage quality control.
Minimum of 3 years of relative conventional mortgage underwriting experience.
Working knowledge of conventional, fnma and fhlb guidelines and requirements.
Working knowledge and understanding of all relevant federal, state and regulatory rules, laws, and regulations.
Working knowledge of loan structures, documentation, and origination channel required.
General understanding of secondary market requirements, policies and procedures and vendor requirements within the reviewed areas.
Ability to read and interpret loan documents.
Working knowledge of microsoft applications, specifically microsoft excel and microsoft word.
Preferred:
Experience in mortgage quality control.
Experience with encompass los.
All qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, gender identity, religion, national origin, disability, veteran status, or other legally protected status.
Job type: full-time
Work location: multiple locations
