Senior Mortgage Quality Control Auditor

Job Description

Location : Onsite in Raleigh, NC

Summary

The objective is to monitor the overall quality of loans with regard to originations and to assure our employees are in compliance with company policies and investor and mortgage insurer requirements, including requirements of HUD, VA, Rural Housing, Freddie Mac, and Fannie Mae. The primary purpose of the job is to conduct random, targeted, and discretionary audits on samples of the mortgages the company originates. The audits are used to discover and guard against errors and omissions as well as fraud and intentional violation of policies. The audits can identify trends and general problems in the origination activities of the company and bring these to the attention of management to assure swift and appropriate corrective action.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Review and assess underwriting decisions of Underwriter I, II, and III underwriters for pre-funding full file QC review in compliance with investor and mortgage insurer requirements, including requirements of HUD, VA, Rural Housing, Freddie Mac, and Fannie Mae, reporting and record retention as well as early payment default review, reporting and record retention.
• Communicate deficiencies identified in underwriting work and file documentation and require remediation of errors prior to funding
• Pre-Funding Full File and Targeted Review daily on various issues as assigned by QC Manager
• Communicate with branch staff and branch management results of full file and targeted pre-funding reviews daily
• Respond to branch responses on pre-funding reviews and targeted reviews and clear files to close
• Update Pre-Funding and Targeted defect tracker and folder daily
• Assist in preparation of monthly Pre-Funding Report for QC Manager based on department Pre-Funding QC reviews in advance of the monthly QC meeting with management
• Quality Control the Quality Control Vendor review, reporting and record retention
• Review the Quality Control the Quality Control vendor sample files monthly as assigned by Quality Control Manager
• Email Quality Control the Quality Control vendor results to the branch staff and branch management as completed
• Respond to branch responses on Quality Control the Quality Control vendor
• Update the Quality Control the Quality Control vendor tracker and folder daily until review is complete
• Prepare results of Quality Control the Quality Control vendor for Quality Control
• Early Payment Default Review, Reporting and Record Retention
• Pull information on loan files from FHA Connection and Encompass to include in summary of loan for QC monthly meeting and assist in preparation of monthly EPD

Discretionary review report for QC Manager

SUPERVISORY RESPONSIBILITIES

Assists with directing, coordinating, and evaluating designated units or certain personnel in accordance with the organization's policies and applicable laws. Responsibilities may include training employees, planning, assigning, and directing work; addressing complaints and resolving problems.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Additionally, the qualifications listed below are representative of the knowledge, skills, and / or abilities required in this position :

Bachelor's degree in Finance or Business Administration and at least seven years of progressively more responsible experience required. Five years of senior mortgage underwriting or mortgage quality control auditing experience. Experience and competency in underwriting and knowledge of general mortgage compliance guidelines.

COMPUTER AND OFFICE EQUIPMENT SKILLS

Microsoft Office suite

CERTIFICATES, LICENSES, REGISTRATIONS (Ex : CPA, Series 6 or 7 license, etc)

FHA DE and VA LAPP preferred.

About Us

First Horizon Corporation is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com .

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