What are the responsibilities and job description for the Quality Control Analyst - Mortgage Industry position at Novus Home Mortgage?
ESSENTIAL DUTIES AND RESPONSIBILITIES:
This is a non-exempt, hourly position with a pay range of $31.00 to $36.00 per hour.
- Perform post-funding reviews including but not limited to random, discretionary, FHA declined files, early payment default, and LAPP appraisal audits
- Perform pre-funding reviews as assigned
- Meet or exceed daily productivity metrics as outlined by management
- Identify defects, communicating concerns in a clear, concise, and objective manner
- Maintain high level of accuracy in relation to audit reviews and cited defects
- Perform reviews of the credit package, including but not limited to, income, assets, credit & property, ensuring all documentation and calculations adhere to agency & investor requirements
- Perform complete and accurate collateral risk assessments on property appraisals, utilizing agency tools in review and escalating value concerns to management for additional review
- Ability to comprehend and perform analysis of complex tax return documentation
- Perform accurate reviews of compliance packages, including but not limited to initial disclosures, closing packages, TRID compliance, ensuring requirements are met as outlined by the CFPB, state and federal agencies
- Ensure individual reviews are complete in accordance with agency timeline requirements
- Document audit findings in a clear and concise manner, identifying the error cited, guideline violation and impact on the overall loan decision.
- Identify and prepare reverifications in accordance with agency requirements
- Review and reconcile reverifications; identifying discrepancies and citing as needed
- Maintain up-to-date knowledge of agency and Investor guidelines and overlays
- Ability to navigate and utilize AllRegs for agency, investor, and compliance requirements
- Identify and immediately report red flags, AML concerns, and other inconsistencies found in reviews
- Assign and maintain action plans with appropriate teams utilizing the QC system of record, performing follow-up and summarizing outcomes for management review
- Assist with second-level reviews and oversight as needed
- Assist with pre-funding loan selection, import and assignment as needed
- Ability to work independently and adapt to change
- Other duties as assigned
- High School diploma with relevant experience in Underwriting or Quality Control
- Three to five years of mortgage Quality Control experience required.
- Bachelor’s Degree
- Three to five years of residential mortgage lending experience; exposure to all aspects of origination, servicing secondary marketing and mortgage compliance areas
- FHA Chums/DE and VA LLAP
- Knowledge of secondary market investor guidelines (Fannie Mae, FHA, VA, USDA) and ability to keep abreast of investor and regulatory changes required
- Knowledge and experience in responding to Repurchase Request, Investor audits, MI Company audits, Regulatory audits, HUD Indemnification requests and VA deficiencies preferred
- Must have the ability to complete appraisal reviews and tax return analysis
- Strong understanding of mortgage regulatory rules and their requirements
- Self-starter with the ability to adapt to a changing environment
- Ability to deliver effective results and to meet deadlines with minimal supervision
- Ability to communicate and work well with Investors and co-workers in a team environment
- Possess clear, concise, and effective written and oral communication skills
- Possess a keen eye for accuracy, attention to detail and ability to handle a high-volume workload
- Excellent interpersonal, organizational, prioritization and time management skills
This is a non-exempt, hourly position with a pay range of $31.00 to $36.00 per hour.
Salary : $31 - $36