Description
Position Overview and Purpose:
Working under the direct supervision of a Loan Origination QC Audit or Pre-Funding Supervisor, this position is responsible for providing accurate and timely audit services for a variety of clients. This consists of auditing various loan types including, but not limited to FHA, VA, USDA, FNMA, FHLMC, FHLB, conventional, construction, consumer, land, HELOC, cancel/rejected, early payment default, pre-funding, and reverse mortgage transactions. After completing an initial training period, each auditor is expected to meet or exceed quality and quantity standards established by TENA management.
Responsibilities
Duties and Responsibilities:
- Maintain a current overall understanding of applicable federal and state laws, regulations, and investor requirements related to mortgage quality control and general mortgage principles and practices.
- Enter information into Second Look® and bookmark information within the imaged file that is pertinent to the reverification and audit functions.
- Identify and set up all applicable documents within a mortgage file to be reverified with third parties.
- When applicable in pre-funding, perform verbal employment verifications.
- Review all documentation contained within a mortgage file to ensure compliance with applicable federal, state and agency guidelines.
- Identify areas of possible misrepresentation and report suspected “red flags” to their immediate Supervisor for further investigation and/or reverification.
- Verify that all applicable requirements of the client have been met.
- Complete various recalculations and calculators as required for specific files.
- Order and examine review credit reports, as required.
- Review automated underwriting reports to ensure data input was accurate and that required documentation was obtained.
- Using proper language and grammar in English, clearly describe in writing the relevant circumstances found within the loan file.
- Maintain a quantity and quality of output that meets or exceeds the established standards of TENA management.
- Attend and participate in meetings and training sessions as needed.
- Pre-Audit as scheduled. Other duties as assigned.
Qualifications
Qualifications:
Preferred: A four-year, business-related degree from an accredited college or university or
equivalent experience in processing, originating, or underwriting of mortgage loans.
Acceptable: A four-year, non-business-related degree or equivalent experience in processing,
originating or underwriting mortgage loans.
Skills and Abilities Necessary to Succeed:
- A basic understanding of, and interest in, real estate finance and auditing.
- A willingness, interest and capacity to learn about the mortgage industry and quality control initially and on a continuing basis.
- A basic understanding of and abilities related to the usage of technology such as Word, Excel, PowerPoint, Outlook, Second Look®, and similar programs.
- Ability to quickly learn new programs and technologies.
- Ability to understand and present complex subject matter in understandable terms, both in writing and verbally. Self-motivation, with a proven ability to multi-task and work independently, as well as part of a team.
- Ability to establish and maintain cooperative and effective working relationships with others.
- Ability to prioritize and complete assigned tasks. Ability to read and comprehend instructions, correspondence and memos written in English.
- Ability to effectively present information in one-on-one and small group situations.
- Ability to perform basic math such as add, subtract, multiply, and divide in all units of measure, use whole numbers, common fractions, and decimals.
- Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
- Ability to apply common sense understanding to carry out instructions furnished in written, oral or diagram form.
- Ability to deal with problems involving concrete variables in standardized situations.
Physical Requirements:
- Constantly operates a computer and other office productivity machinery, such as a keyboard, mouse, calculator, copy machine, and computer printer.
- Must be able to remain in a stationary position 90% of the time.
- Must have the ability to commute to and work in a physical office when required.
- Must be able to recognize and assess electronic loan documents and answer questions based on information obtained during the assessment.
- Must be able to converse with supervisor when there is a question or concern on the audit being performed.
- Occasionally must be able to move material such as computer paper bundles and other items weighting up to 10 pounds.
- The noise level in the work environment is usually quiet to moderate.
TENA Companies
Saint Paul, Ramsey, Minnesota 55107
US
