Sr. Quality Control Auditor

  • Anywhere

Company :
FlagStar Bank

Location :
Troy, Michigan

Expiry Date :
Sun, 13 Dec 2020 23:59:59 GMT

Apply Job :
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Description :
The position will assure compliance with Federal and state regulations, bank and investor policies and procedures. This position performs various desk audits including Post-Closing, Denied Loans, and Targeted Loans for Consumer Finance business units. Analysis in audits includes regulatory compliance, income review, asset review, appraisal review, credit review, employment verification, and occupancy verification. Prepare Quality Control Reports for distribution to Senior Management and supporting Business Units. Evaluate Quality Control performance to establish and identify trending defect information. Performance in this position is crucial to mitigate and identify root cause in compliance defects for Consumer Loans. – Lead and perform comprehensive loan level and system analysis for Consumer Finance originated and non-originated loan products. Ensure adherence to investor/regulatory guidelines. Conduct audits for Consumer Finance products including HELOCs, HELOANs, ODLOCs, CD Secured, Unsecured, Auto Loans, Marine Loans, RV Loans, and Motorcycle Loans. Validate/Re-Underwrite loans by performing loan level underwriting, system analysis, process adherence testing, and risk assessment. Loans are reviewed for Federal, State, and Investor regulations compliance. Income, Assets, Tax Returns, and Occupancy are verified to determine loan qualification. Credit Reports are analyzed for OFAC, Fraud Alerts, Borrower Identification, Red Flags, and Credit Worthiness. Appraisal reports and reviewed in adherence with investor/insurer guidelines to evaluate collateral. – Quality Control reviews are prepared and discussed directly with Consumer Finance Managers, Business Unit Managers, and applicable staff to evaluate the root cause and mitigate identified defects. Effectively communicate identified issues, obtain feedback, and tactfully manage dispute process with lines of business to remediate findings. For escalated issues, assist in the development and updating of departmental procedures. Comprehensive Final Reports are generated using a standardized, objective format and distributed to executive management. Attend and organize regular meetings with managers to review findings, discuss and agree on procedures, and arrive at mutually agreed upon recommendations that will result in best practices within the Home Lending and Consumer Finance divisions. – Remain current with regulatory changes from governmental/state agencies, as well as policy changes from investors/insurers. Communicate and work with other lines of business to ensure audit criteria is up-to-date and effective. Seek out and complete online and/or offsite training as it relates to the job function – Work with management to identify process inefficiencies and submit procedural updates for approval, 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 or Comparable experience – 5+ years of mortgage experience – specifically in consumer lending, quality control/monitoring/assurance, loan origination, risk management, and/or regulatory compliance. – Significant experience underwriting 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: Band G Recommended skills Loan Origination Underwriting Credit Reports Loans Real Estate Settlement Procedures Act Truth In Lending Act