Senior Quality Control Analyst

Mphasis Limited Jacksonville , FL 32277

Posted 2 months ago

Quality Control Analyst

Digital Risk's mission to Make Mortgages Safe relies on the perfect blending of human experience and state-of-the-art technology to serve its workforce and clients.

Digital Risk's 1,500+ team members make us one of the largest mortgage outsource providers in the U.S., supplying appraisal and mortgage processing, underwriting and closing to the largest banks and loan originators.

Position Overview:

Perform in-line quality control reviews of mortgage loan files for adherence to specific lender guidelines with an emphasis on buy-pre and post-closing audits, compliance, and other client required quality service levels. Reviews include identifying potential fraud and/or misrepresentation, processing / underwriting deficiencies, compliance violations, and/or applicable scope specific opportunities. Partner with client's quality departments and Digital Risk's internal Corporate QA to align, calibrate and respond to quality plans and findings. Work within a corporate structure, as well as within the client-level management team to ensure alignment of company and client quality standards.

Essential Job Functions:

Review and provide Quality Control feedback on loan file reviews completed by internal staff

Pre-Closing Reviews

Confirm loan product is compliance with program guidelines and borrower eligibility

Review employment documentation and re-calculate income documentation

Review and recalculate asset and reserve documentation

Review credit report and re-calculate liabilities

Review title commitments, hazard and flood insurance

Review and analyze borrower's mortgage applications and related documents

Review and analyze real estate purchase contracts, if applicable

Perform Appraisal Reviews for completeness, health and safety issues, and external obsolescence

Identify all red flags within a loan file and ensure they are addressed accordingly

HUD-1 Reviews

Ensure only Lender required fees are included on the Specific Closing Instructions

Determine proper designation for title, title services and all other shop-able fees

Compare fee payee names listed on the HUD-1 to invoices or other docs in file to validate accuracy of information

Compare HUD-1 to Specific Closing Instructions for accuracy (fees and amounts)

Compare HUD-1 page 3 data to Specific Closing Instructions and Addendum and client GFE Tool for accuracy (fees, amounts, loan terms, principal and interest, escrow information).

Post-Closing Reviews

Review final closing documents to ensure adherence with applicable law

Validate compliance with state specific Non-borrowing spouse signing requirements.

On NORTC eligible loans, verify compliance with Notice of Right to Cancel requirements of RESPA

Confirm all documents and pre-funding conditions pertaining Title, Trusts and POAs have been satisfied

Compliance Reviews - analyze individual loan files and determine compliance with applicable lender guidelines and/or loan approval

oECOA - Reg B

oFair Credit

oFlood

oHMDA - Reg C

oRESPA - Reg X

oTILA - Reg Z

oOther Ad Hoc Reviews

Call Monitoring

E-mail / template usage

Compliance with Licensure

Follow quality control policies and procedures to ensure compliance with scopes of work

Support the Unit(s) by providing accurate, concise, and constructive feedback details to Team Managers and responsible team members

Identify training opportunities pertaining to quality reviews and communicate with Quality Manager, Team Managers, Performance coach, and Unit Manager to implement such needed sessions

Must be able to fulfill the role of subject matter expert for the team and scope assigned

Assist with required and/or identified training needs as it relates to quality control

Assist leadership team as needed

Requirements:

3+ years' Underwriting / QC experience

Minimum two years' experience underwriting to FNMA and/or FHLMC guidelines

Must have demonstrable, relevant skills and experience in quality control support and practices in the mortgage loan industry (origination and post-closing)

Demonstrate impeccable written and verbal communication skills

Excellent time management skills with an emphasis on quality

Knowledge and understanding of transaction components that indicate a potential for fraud and critical compliance violations

Should have knowledge in the policies, principles and practices of mortgage loan processing, underwriting, and closing

Must be self-motivated, creative and able to work in a team environment while thinking independently and sharing knowledge and ideas

Must be able to multi task between multiple analytical projects and able to adapt to constant modification of the work flow

Strong computer skills

Ability to coach and mentor team members

Regular attendance and punctuality are essential functions of the job

Job Environment:

Fast-paced daily work output

Possible long hours/overtime

Required skills:

The ability to work under stressful situations

The ability to establish priorities quickly as circumstances dictate

Ability to manage large caseloads with tight deadlines

Work with direct supervision

  • PRIMARY COMPETENCY : Quality Control
  • PRIMARY SKILL : Quality Control-Originations
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Senior Quality Control Analyst

Mphasis Limited