FHA Mortgage Underwriter

Position Title: Quality Control Analyst II (FHA Mortgage Underwriter)

Department: Homeownership

Join our Team! At IHDA we strive to create and maintain a work environment that promotes diversity, recognition and inclusion. IHDA is committed to hiring and investing in individuals of diverse talents and backgrounds to ensure a range of perspectives and experiences, inform and guide our work of financing affordable housing in the state of Illinois.

Who we are: The Illinois Housing Development Authority (IHDA) is one of the Nation’s preeminent Housing Finance Agencies and one of the State’s ten largest financial institutions. Our mission is to finance the creation and preservation of affordable housing across the state. IHDA oversees more than 20 federal and state programs on behalf of the state of Illinois and serves as one of the state’s primary resources for housing policy and program administration. For over 50 years, IHDA has led the state in financing and supporting affordable housing.

Summary: The Quality Control Analyst II is responsible for conducting detailed reviews of loan files—both pre- and post-funding—as well as servicing and sub-servicing documentation. This role ensures compliance with IHDA, Conventional, FHA, VA, and USDA lending guidelines, along with Mortgage Revenue Bond and Mortgage-Backed Securities execution standards. The QC Analyst II reviews loan servicing tasks—like handling defaults, escrow, and payments—to ensure they are accurate, follow regulations, and have correct data, while also spotting any possible document issues. The QC Analyst II ensures compliance with all aspects of IHDA and Government-Sponsored Enterprise requirements as identified by the Uniform Quality Control checklist.

Essential Functions:

• Review required percentage of servicing and sub-servicing portfolio loan files for:
• Accuracy of documentation,
• Compliance with IHDA and GSE guidelines, and
• Preparation of final reports for QC Manager review
• Sub-servicing vendor oversight, including but not limited to:
• Reviewing monthly reports and pipeline,
• Maintaining verbal and written communication,
• Preparing final reports for QC Manager review, and
• Investigating and coordinating with QC Manager the rebuttal of repurchase demands, as needed.
• Review required percentage of pre-funding and/or post-funding loan files, as assigned, for
• Accuracy of documentation,
• Compliance with IHDA and GSE guidelines,
• Preparation of final reports for QC Manager review, and
• Maintenance of accurate records.
• Attend meetings and on-site external audits as assigned by management.
• Accurately input loan information into the Loan Origination System (LOS) and individual review checklists.
• Ongoing and quarterly industry training is required. QC Analyst II is also responsible for assisting team members with industry related questions and IHDA QC procedures.

Education and Experience Requirements:

• Education:
• Bachelor’s degree or three or more years’ experience in the residential mortgage lending industry or related field required.
• Experience:
• Experience in residential mortgage loan servicing required.
• Prior audit and/or underwriting experience required.
• Strong Microsoft Office, Adobe, and general computer knowledge required.
• Must have knowledge of IHDA, Government-Sponsored Enterprise, servicing and Consumer Financial Protection Bureau requirements.
• An ideal candidate will be self-motivated with excellent communication, analytical, organizational, and customer service skills.

Physical Requirements: Alternating between sitting, standing, and walking. Ascending and descending stairs. Crouching and stooping. Pushing and pulling. Reaching overhead or below. Repetitive tasks movements (filing, keyboarding, copying). Lifting, carrying, and moving objects of up to 10 -15 pounds.

What We Offer:

• Paid time off, plus paid holidays
• Currently in a hybrid work arrangement, but candidates must reside in Illinois at time of hire.
• Medical/dental/vision/life insurance plans
• Short/long term disability
• Tuition reimbursement
• Flex spending
• 401K plan – immediate vesting
• IHDA employees may be eligible for federal loan forgiveness programs.
• Salary: $69,488 - $86,860

Must be a resident of Illinois or willing to relocate. Flexible scheduling is available, upon completion of a six-month probationary period.

EOE