Mortgage Loan Quality Control Manager / AVP
Pittsburgh, PA USA
75-95K + Full Benefits + Bonus
This position is primarily responsible for overseeing all aspects of the Bank's residential mortgage Quality Control function. The incumbent develops procedures for testing, manages Quality Control analysts and vendors, develops recommendations for Quality Control policy, procedure and reporting, makes decisions regarding the issuance of exception findings and ensures all procedures, testing and residential mortgage loan production and servicing functions are in accordance with corporate, investor and regulatory standards.
Oversees administration of scheduled monthly and periodic specialized quality control reviews by leading the team of Quality Control Specialists as well as third-party vendors performing those reviews.
Provides guidance and assistance to Quality Control analysts to determine the significance of any of the underwriting, compliance, collateral value or servicing issues and determines whether these items qualify as material defects that could result in a request for repurchase from any investors, agencies or regulatory deficiency.
Directs and monitors the selection of mortgage loans from the production process for quality control review.
Ensures the Quality Control Plan and Policies are up to date and meet all agency requirements by staying current with the various agencies and regulatory changes (CFPB, Fannie Mae, Freddie Mac, FHLB, HUD and VA).
Monitors performance of personnel through results of QC reviews or tests to ensure the requisite skills necessary to adequately perform their duties are maintained. Consults with management in developing training curriculum for personnel, recommending additions to the skills tests and determining where additional required training may be required.
Implements policy and procedure improvements by working closely with senior management, as well as the Origination, Production and Servicing teams.
Participates in risk management meetings and presents topics pertaining to potential issues noted, industry trends, or new investor guidelines.
Reviews and analyzes monthly Pre and Post Purchase, as well as Servicing QC Review reports for high risk trends and credit issues and recommend to senior management policy changes and/or training to offset accordingly.
Manages any 3rd party quality control firm(s) to ensure quality loan reviews and acceptable service level standards and monitors and manages budgeted costs.
Oversees the MERS System Process Internal Controls and Quality Assurance Plan validation and self-audit responsibilities to ensure compliance with MERSCORP Holdings processing standards.
Performs other related duties and projects as assigned.
All employees have the responsibility and the accountability to serve as risk managers for their businesses by understanding, reporting, responding to, managing and monitoring the risk they encounter daily as required by Corporation’s risk management program.
We are committed to achieving superior levels of compliance by adhering to regulatory laws and guidelines. Compliance with regulatory laws and company procedures is a required component of all position descriptions.
Minimum Level of Education Required to Perform the Primary Responsibilities of this Position:
BA or BS
Minimum # of Years of Job Related Experience Required to Perform the Primary Responsibilities of this Position:
Skills Required to Perform the Primary Responsibilities of this Position:
- Excellent organizational, analytical and interpersonal skills
- Excellent communication skills, both written and verbal
- Ability to use general office equipment
- Ability to use a personal computer and job-related software
- MS Word - Basic Level
- MS Excel - Basic Level
- MS PowerPoint - Basic Level
- Underwriting experience
- MS Excel
- Underwriting experience is a plus ; to verify that credit decision was correct.
- MS Excel - report generation – take all those files (a few hundred per month)
- Origination experience
- Mortgage System: Mortgage Builder
- Manages - about 4 on staff (Quality Control Analysts)
- Writing policies and procedures – when update how to handle, should add to procedures.
MUST have - AllRegs system experience; able to look up the Fannie/Freddie regs quickly)