Vendor Quality Control Analyst jobs in Minnesota

Description

Professional and administrative work primarily involving performing post-closing and pre-funding quality control reviews to ensure compliance with all investor/agency guidelines, state and federal requirements, as well as lender-specific and client-specific overlays. Responsible for completing full file reviews including timely ordering of credit, income, asset, and additional reverifications, as required.

ESSENTIAL RESPONSIBILITIES & DUTIES:

Level I

• Supports the origination team by providing accurate, concise, and constructive audit exception details.
• Works with the quality control team to complete all required audit tasks for each workgroup in a timely fashion.
• Follows QC policies and procedures to ensure compliance with scopes of work.
• Incorporates feedback and new regulatory training into upcoming audits effectively.
• Reviews employment and asset documentation for completeness and accuracy per investor requirements on each review.
• Recalculates income, ratios, and asset figures.
• Reviews credit reports and recalculates liabilities.
• Performs desk reviews of appraisals.
• Analyzes individual loan files for compliance with Federal and State Regulations, lender conditions, and investor guidelines.
• Validates data integrity of loan documentation.
• Identifies all red flags within a loan file and ensures they are addressed accordingly.
• Escalates evidence of fraud and/or misrepresentation to management immediately.

Level II (all above plus)

• Successfully completes denied/cancelled/withdrawn reviews.
• Successfully completes early payment default reviews.
• Able to monitor and assist with production management.

OTHER DUTIES, KNOWLEDGE, SKILLS, ABILITIES:

Required:

• Knowledge of policies, principles, and practices of mortgage loan origination, processing, underwriting, and closing/funding.
• Familiarity with mortgage loan documentation.
• Ability to multitask between analytical projects and adapts to modification of the work flow.
• Demonstrates acceptable production and quality rating metrics.
• Experience with automated underwriting systems (such as DU, LP or GUS).
• Experience calculating underwriting ratios and income (DTI, LTV, CLTV).
• Familiarity with federal, state, and investor/agency requirements regarding mortgage origination.
• Basic proficiency in MS Word and MS Excel.
• Strong written and verbal communication skills.
• Excellent time management skills with an emphasis on quality.
• Works well with others in a team environment as well as independently.
• Strong attention to detail.

General:

• Must work the days and hours necessary to perform all assigned responsibilities and tasks. Must be available during regular business hours to accomplish work and company goals.
• Must maintain courteous, professional and effective working relationships with employees at all levels of the organization, customers, vendors and/or any other representatives of external organizations.
• Communicate information and state problems or challenges to be resolved in a clear, concise, courteous, nondiscriminatory and professional manner, and be able to provide clarification if necessary.
• Must be capable of adapting, with minimal or no advance notice, to changes in how business is conducted, and work is accomplished, with no diminishment in work performance.
• Actively participate in quarterly performance meetings; meet or exceed all performance metrics.
• Follows company policies and procedures.
• Perform other duties as required.

Qualifications

Education: High School Diploma

Experience: 2 years of QC, post-closing, compliance, and/or underwriting experience with FHA, VA, USDA, FNMA, FHLMC, and FHLB guidelines or equivalent knowledge and experience.

Licenses/Certifications: none