The Wholesale Mortgage QC Analyst is an experienced self-starter who will be responsible for carrying out the audit process by independently performing QC testing for post-funded loans. Through independent work and analysis, the QC Analyst will ensure all loans are compliant, and properly underwritten (and closed), as defined by current FNMA/FHLMC, FHA, VA, and QC mortgage industry guidelines.
Fully assess loan quality, eligibility, and compliance of selected loans assigned;
Complete 6-8 reviews daily;
Re-calculation of income
Regularly communicate and provide audit findings to the QC/QA Supervisor;
Ensure selected loans are in compliance with federal and state regulations, as well as the most current FNMA/FHLMC, FHA, VA, internal, and investor requirements;
Order re-verifications as needed
Perform review of credit, income documentation, calculations, and assets used to qualify for accuracy and compliance in order to validate underwriter’s loan approval;
Increase process efficiency by identifying potential risk and mitigating factors that may impact the Company through credit decisions and the customer's ability to repay the loan;
Monitor Watchlist and exclusionary list
Provide interactive feedback and clear communication throughout the audit process with the Underwriters, AMC’s, and their respective Managers;
Provide updates, reporting and audit findings to internal workgroup(s), for review and mitigate major defects found when applicable;
Re-verify borrower and co-borrower bank accounts and bank statements;
Re-verify borrower occupancy.
Bachelor’s degree and/or equivalent work experience;
Requires minimum 2-4 year previous wholesale mortgage industry experience to include; previous working knowledge within mortgage underwriting and/or quality control;
Previous experience in reviewing and analyzing mortgage credit packages, AUS findings, and calculating loan ratios and variables;
Prior working knowledge and experience in the calculation and verification of income and assets, evaluation of credit reports, purchase contracts, appraisals, title commitments, and other loan pertinent documentation;
Demonstrate independence and have the ability to conduct full QC cycle, including audits, evaluations, and determine compliance with investor requirements;
Prior experience in wholesale/retail conventional and government underwriting, along with up to date knowledge of wholesale/retail mortgage products, documents, and processes, guidelines for agencies and private investors;
Must be detailed oriented and possess strong analytical skills, along with organizational skills that lead in the ability to handle multiple tasks and prioritize workloads;
Must be able to endure heavy workloads during peak periods;
Must be able to receive constructive feedback;
Must be able to work in the Costa Mesa corporate office location (remotes will not be considered)
Strong working knowledge and use of Microsoft Office Suite, including Word and Excel;
Perform other duties as assigned in order to support the QC business unit.
Salary commensurate with experience.
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Costa Mesa, CA