Primary responsibilities include in-depth file reviews on all quality control audits assigned. This position requires extensive experience with conventional and government loans, as well as regulatory and investor guidelines, in order to make critical decisions regarding the quality of the loan file. The Sr. Quality Control Auditor is expected to make loan level decisions and work closely with other operational departments. Prepare written QC reports on mortgage servicing reviews, using a standardized, consistent and objective format. Research investor guidelines and issue findings after conducting independent QC reviews. This includes reviewing mortgage servicing policies; reviewing, analyzing, and interpreting HUD, FNMA, FHLMC, VA, USDA, 184 and other investor servicing guidelines, as well as various servicing related regulations. Servicing coverage includes, but is not limited to, payment processing, customer statements, escrow accounting, flood compliance, ARM adjustments/conversions, disclosures, assumptions, payoffs, loss mitigation, bankruptcies, collections, claims, foreclosure, and general servicing.
Identify and document deficiencies, errors, omissions and/or fraud for each file reviewed, and recommend a course of corrective action. Act as an active contributor (SME) during implementation of corrective action and/or training, whichever may apply.
Discussing results/disputes with business units and vendor. Attend regular meetings with peers and manager to review findings, discuss and agree on procedures, and arrive at mutually agreed upon recommendations that will result in best practices within the Servicing Division.
Liaison between QC vendor and business units. Monitor QC vendor to ensure quality reviews are performed.
Staying up to date on latest servicing guidelines and regulatory guidelines. Seek out and complete online or offsite investor training as it relates to the job function. Coordinate testing script updates with vendors and business units as needed.
Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar's internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.
Job Requirements: HS Diploma, GED or Foreign Equivalent
Bachelors Degree Required?
5+ years of mortgage experience – specifically in consumer lending, quality control/monitoring/assurance, loan origination, risk management, and/or regulatory compliance
5+ Years of mortgage experience, consumer lending, quality control/monitoring/assurance, loan origination, risk management, and/or regulatory compliance.
Significant experience with FHA/VA/USDA/FNMA/FHLMC/Consumer Loans
Strong knowledge of investor/insurer guidelines, applicable laws, regulations, company audit policies/procedures and the ability to effectively interact with all levels of senior management
Strong understanding of mortgage documentation and regulatory compliance requirements (e.g. allowable fees, TILA-RESPA Integrated Disclosure (TRID), exception tolerances, and completing self-employed analysis)
Strong Interpersonal Communication Skills
Demonstrated experience with operational and data interpretation, analysis, and reporting
Ability to support multiple tasks, with varying levels of complexity, importance and involvement
Highly professional and well-poised in communication with staff, executive leadership, and external parties
Advanced analytical, problem solving and decision-making skills
High energy, strong leadership, an ability to initiate and effectively manage multiple projects simultaneously
Knowledge of regulatory and compliance matters affecting the mortgage industry
Knowledge of consumer regulation and protection laws
Ability to maintain Excel spreadsheets
Ability to establish credibility and strong partnerships with management and peers to maintain positive working relationships
Exhibit a keen attention to detail and the ability to quickly comprehend information
Internal Use Only - Job Band G
