Job Title: Quality Assurance Officer
Department: Mortgage Banking Division
FLSA Status: Exempt
Reports to: Chief Mortgage Banking Officer
Full/Part Time Status: Full-Time
Work Location: Los Angeles, CA
Travel Requirement: 10%
Minimum Education Level: Bachelor's Degree
Minimum Years of Experience: 5-7 Years
Combination of Experience and Education can meet the job requirements: Yes
English: Written: Advanced Verbal: Fluent
Korean: Written: N/A Verbal: N/A
Computer/Systems Knowledge Requirements
Microsoft Outlook: Advanced
Microsoft Word: Advanced
Microsoft Excel: Advanced
Microsoft PowerPoint: Advanced
Microsoft Access: Intermediate
DU / LP: Intermediate
CBC Innovis: Intermediate
Data Verify: Intermediate
Appraisals Engine: Intermediate
Responsibilities & Duties
Analyze RL documents for compliance with various State & Federal requirements.
Perform LOS and loan file reviews; ensure origination & settlement fees, GFE's and TIL documents are disclosed accurately, timely and within the tolerance.
Communicates with internal staff to address and resolve all loan findings from audits.
Monitor pending and or proposed changes to mortgage related rules and regulation to ensure all areas of compliance.
Ensures accuracy of HMDA data for each loan.
Ensures that all underwriting decisions, calculations are properly executed based on set forth guideline and policies by Investor and portfolio alike.
Provide support to management by retrieving department records for easy and timely access when loan files are requested by Audit, Compliance and Examiners.
Develop and update Residential Lending policies and procedures to meet Audit, Compliance, CFPB, FDIC and OCC guidance
Provide job specific training and updates to Residential Lending policies and procedures.
Maintain department logs for adverse files, imaged files and post-closing documents.
Ensure that the RL loan application register is always up to date and submitted to Compliance on a monthly basis in a consistent timely manner.
Assists management with implementing compliant policies and procedures with an eye for efficiency.
Serve as a liaison to Regulators during internal and external audit or examination reports.
Research compliance issues/questions, using legal counsel and compliance engines with accuracy and ability to decipher interpretation accuracy to the letter of the law.
Check Mortgagebot (LOS engine) for Compliance Alert and ensuring immediate corrective action.
Review initial disclosures packages, re-disclosure packages and closing packages to ensure they satisfy all accuracy and timing requirements.
Maintain documentation to support legal opinions, Quality Assurance testing.
System Administrator for DocMagic, Mortgagebot and CBC Innovis compliance systems.
Review third party vendors for the Residential Lending & Servicing Department.
Comply with Bank Secrecy Act policy and procedures and "know your customer/enhanced due diligence" guidelines.
Required: 15+ years of Residential Underwriting/auditing/compliance experience.
Required: Knowledge of Lending Compliance regulations: Regulation X (RESPA), Regulation Z, Regulation B, Fair Lending HMDA Guidelines among others.
Required: Experience with internal and outside audit processes and responses alike.
Required: Fraud review skills and ability to take action immediately.
Required: Knowledgeable with CFPB compliance, guidelines and execution of policies.
Required: Excellent verbal and written communication skills.
Required: Excellent customer service skills to all: business partners and co-workers alike.
Required: Quality assurance that pertains to residential lending products.
Required: Must be extremely organized, analytical and detail oriented.
Required: Ability to multi task and meet deadlines.
Required: Thorough knowledge of mortgage lending, loan documentation requirements, underwriting, title, escrow and loan processing policies, procedures, terminology, automated processing systems and Federal and State guidelines.
Under 10 lbs: Rarely (Less than 1 hour per week)
Under 10 lbs: Frequent (34% - 66% of the time)
1120 lbs: Occasional (1% - 33% of the time)
Reach over shoulder: Rarely (Less than 1 hour per week)
Reach over head: Rarely (Less than 1 hour per week)
Reach outward: Rarely (Less than 1 hour per week)
Climb: Rarely (Less than 1 hour per week)
Crawl: Rarely (Less than 1 hour per week)
Kneel: Rarely (Less than 1 hour per week)
Squat: Rarely (Less than 1 hour per week)
Sit: Constant (over 66% of the time)
Walk-Normal Surfaces: Frequent (34% - 66% of the time)
Walk-Uneven Surfaces: Rarely (Less than 1 hour per week)
Walk-Slippery Surfaces: Rarely (Less than 1 hour per week)
Stand: Frequent (34% - 66% of the time)
Bend: Occasional (1% - 33% of the time)
Keyboard/Ten Key: Constant (over 66% of the time)
Fingering (fine dexterity): Constant (over 66% of the time)
Handling (grasping, holding): Constant (over 66% of the time)
Repetitive Motion Hands: Constant (over 66% of the time)
Repetitive Motion Feet: Rarely (Less than 1 hour per week)