Quality Control Auditor II

SUMMARY

ESSENTIAL FUNCTIONS

ESSENTIAL DUTIES AND 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.

QUALIFICATIONS

• To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION AND/OR EXPERIENCE

SKILLS AND COMPETENTCIES

• 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

WORKING CONDITIONS

PHYSICAL DEMANDS

ADDITIONAL INFORMATION REGARDING EMPLOYMENT WITH XACTUS