Loan Origination QC Auditor at TENA Companies Inc. – Saint Paul, Minnesota

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.

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 SecondLook® 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:

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, SecondLook®, 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.

Note: This job description is not intended to be all-inclusive. The incumbent may be required to perform other related duties to meet the ongoing needs of the organization.