Loan Quality Auditor - Real Estate-Hybrid

The Loan Quality Auditor - Real Estate audits funded mortgage loans to measure total quality. This includes validating that loans are originated in accordance with established company policies and procedures, investor guidelines, and applicable federal, state, and local laws and regulations. Monitors for fraud, negligence, errors and omissions by all parties involved in the mortgage process. Publishes and communicates audit findings. Recommends changes to company policies and procedures and maintains records of findings.

Audits selected loans to ensure that all documentation supporting the information used in the loan decision and origination is contained in the file and is accurate, complete and in compliance with all pertinent laws and regulations.
• Performs a detailed review and analysis of income (e.g., calculating complex income such as personal and business tax returns), assets, appraisal, credit, title and escrow documentation; identifies gaps and issues.
• Prepares re-verification documents and independently reviews results for accuracy of loan origination documentation; identifies deficiencies and potential fraudulent activities.
• Identifies deficiencies by types (e.g., regulation, underwriting and/or eligibility) and dimension of risk; recommends corrective actions.
• Participates in the planning and coordination of audits to include loan sample selection, re- verification, auditing and reporting; ensures internal and investor audit timeline are met.
• Prepares summaries of the results of each individual loan review in addition to providing a comprehensive, summary report of all quality control (QC) findings.
• Publishes and reports on monthly loan errors and trends to department management; maintains accurate records of findings; assists with monitoring of remediation to ensure resolution and compliance.
• Assists with the preparation of summary reports generated for the Loan Quality Committee.
• Communicates the risks associated with the deficiencies identified along with regular investigative, analytic and audit reporting data to all stakeholders.
• Recommends policy/procedure changes based on the reviews to the senior management of Lending and Enterprise Risk Management.
• Continuously reviews the Post QC program, procedures and audit reports and recommends changes.
• Maintains up-to-date knowledge with loan products, loan origination systems, company policies and procedures, investor eligibility and requirements of Post QC programs, underwriting guidelines, and applicable laws and regulations to effectively perform loan quality audits.
• May investigate unusual or complex loan problems and assist with fraud detection and prevention.
• Maintains effective working relationships with various employees, managers, departments, vendors, and auditors/examiners.
• Work within their team and have a direct impact on themselves and their direct processes.

Education

• Min/Preferred: Preferred
• Education Level: 4 Year / Bachelors Degree
• Description: Bachelor's degree from four-year college or university preferred.

Experience

• Minimum Years of Experience: 3
• Preferred Years of Experience: 5
• Comments: A minimum of 3 to 5 years of experience in a financial institution in a loan quality auditor position, underwriter or loan processor capacity dealing with Conventional, Non-Conventional/Jumbo residential loans, and underwriting to FNMA/FHLMC/FHA guidelines.

Knowledge, Skills & Ability

• Thorough understanding of residential loan programs, credit reports, personal and business financials, and a demonstrated ability to perform calculations to conduct financial projections and estimates.
• Knowledge of Compliance regulations (TRID), Real Estate Residential Lending, and Audit concepts and practices.
• Must have a working knowledge of the Microsoft suite of Office products.
• Experience using Encompass, Symitar and loan audit software a plus.
• Direct Endorsement (DE) Certification desirable, but not required.
• Use existing tools/processes to solve tasks/issues assigned to them.

Disclaimer

Logix Federal Credit Union is an equal opportunity employer that does not discriminate in employment opportunities or practices on the basis of race, religion, color, sex, sexual orientation, gender identity, national origin, protected veteran or disability status, or any other status protected by law.