Home Equity Lending Quality Control Analyst
About the position
Performs Quality Control Audits on lending products and ensures applications are originated and underwritten in accordance with credit union policy and procedure and that they meet regulatory guidelines. Focus on Home Equity reviews.
Responsibilities
• Performs first line Quality Control Audits and reports the analysis performed on lending products, such as, but not limited to, Consumer and Home Equity Products.
• Analyzes and validates the underwriting decisioning process for reviewing and approving loans according to credit union policy and procedure.
• Evaluates loan applications, verifications of employment and deposit, credit reports, etc., to determine credit worthiness, ensure compliance with MACU policies and procedures, and consistency between the file documentation and the loan origination system.
• Evaluates appraisals for accuracy and compliance with internal guidelines.
• Requests and reviews re-verification of loan file documentation to validate accuracy, identify concerns, and mitigate risk.
• Monitors lending origination portfolio for red flags related to fraud, maintaining knowledge about current fraud schemes.
• Understands credit risk and compensating factors and applies that understanding to determine whether credit decisions align with organizational tolerances.
• Completes both Pre-Funding Audits (PFA) and Post-Close audits.
• Follows all MACU lending department policies and procedures.
• Calibrates loan review results with other team members, leaders, and credit union teams to ensure accuracy in the review process.
• Audits files quickly with clear, concise conditions or feedback as necessary.
• Performs a high volume of work and meets required investor deadlines.
• Communicates requirements and gaps identified in loan files, working with responsible parties to address and correct issues when possible.
• Monitors compliance by providing strong expertise with all regulations applicable to lending, including TILA, ECOA, FCRA, RESPA, and other state and federal regulations as applicable.
• Provides compliance support to the lending teams.
• Participate in ongoing training of all lending products.
• Uses tools provided to research and self-identify guidance on all loan programs and guidelines.
• Maintains current knowledge of MACU’s lending updates, criteria, guidelines, procedures, policies, and processes in order to analyze sound lending decisions.
• Other duties as assigned
Requirements
• Three years in lending experience in credit administration, underwriting, or asset and portfolio management.
• Four-year degree from an accredited institution in business, marketing, finance, economics or related field, or two additional years' experience in a progressive financial setting.
• Intermediate skills with Microsoft Office Suite including Outlook, Word, PowerPoint, and Excel.
• Demonstrated experience with loan origination system required.
• Demonstrated ability to clearly express ideas, methodology, results, and recommendations verbally, in writing and through insightful reports and graphic illustrations.
• Demonstrated ability to document outcomes and present information in a manner appropriate for key stakeholders and all levels of the organization.
• Courtesy, tact, and diplomacy are essential elements of the job.
• Ability to work both autonomously and collaboratively in a fast-paced environment.
• Self-starter with strong organizing and time management skills and the ability to work productively and efficiently in a fast-paced environment with multiple projects and timelines.
• Knowledge of consumer lending, consumer lending compliance, and consumer financial protection laws required.
• Adaptive to change, responds positively to altered circumstances or conditions.
• Possess a desire and willingness to learn and continually update knowledge base on financial concepts, strategies, systems etc.
• Take initiative to be a problem solver and provide suggestions to improve processes and efficiencies.
• Excellent inter-personal skills including the ability to collaborate with teams.
• Maintains confidentiality with others since information involves complex, detailed and often sensitive topics.
• Develops and maintains quality time frames and management of pipeline to achieve and meet required lending timelines.
• Ability to sit, talk and hear consistently
• Ability to stand, walk, and use hands to handle or reach occasionally
• Close vision (clear vision at 20 inches or less)
• Distance vision (clear vision at 20 feet or more)
• Ability to lift up to 10 pounds occasionally
• There are no unusual environmental factors (such as a typical office)
• Moderate noise (business office with computers and printers, light traffic)
Nice-to-haves
• One year of underwriting experience strongly preferred.
• Experience with Quality Control software preferred.
• Experience with analytical and reporting software preferred.
Apply Now
Apply Now
Performs Quality Control Audits on lending products and ensures applications are originated and underwritten in accordance with credit union policy and procedure and that they meet regulatory guidelines. Focus on Home Equity reviews.
Responsibilities
• Performs first line Quality Control Audits and reports the analysis performed on lending products, such as, but not limited to, Consumer and Home Equity Products.
• Analyzes and validates the underwriting decisioning process for reviewing and approving loans according to credit union policy and procedure.
• Evaluates loan applications, verifications of employment and deposit, credit reports, etc., to determine credit worthiness, ensure compliance with MACU policies and procedures, and consistency between the file documentation and the loan origination system.
• Evaluates appraisals for accuracy and compliance with internal guidelines.
• Requests and reviews re-verification of loan file documentation to validate accuracy, identify concerns, and mitigate risk.
• Monitors lending origination portfolio for red flags related to fraud, maintaining knowledge about current fraud schemes.
• Understands credit risk and compensating factors and applies that understanding to determine whether credit decisions align with organizational tolerances.
• Completes both Pre-Funding Audits (PFA) and Post-Close audits.
• Follows all MACU lending department policies and procedures.
• Calibrates loan review results with other team members, leaders, and credit union teams to ensure accuracy in the review process.
• Audits files quickly with clear, concise conditions or feedback as necessary.
• Performs a high volume of work and meets required investor deadlines.
• Communicates requirements and gaps identified in loan files, working with responsible parties to address and correct issues when possible.
• Monitors compliance by providing strong expertise with all regulations applicable to lending, including TILA, ECOA, FCRA, RESPA, and other state and federal regulations as applicable.
• Provides compliance support to the lending teams.
• Participate in ongoing training of all lending products.
• Uses tools provided to research and self-identify guidance on all loan programs and guidelines.
• Maintains current knowledge of MACU’s lending updates, criteria, guidelines, procedures, policies, and processes in order to analyze sound lending decisions.
• Other duties as assigned
Requirements
• Three years in lending experience in credit administration, underwriting, or asset and portfolio management.
• Four-year degree from an accredited institution in business, marketing, finance, economics or related field, or two additional years' experience in a progressive financial setting.
• Intermediate skills with Microsoft Office Suite including Outlook, Word, PowerPoint, and Excel.
• Demonstrated experience with loan origination system required.
• Demonstrated ability to clearly express ideas, methodology, results, and recommendations verbally, in writing and through insightful reports and graphic illustrations.
• Demonstrated ability to document outcomes and present information in a manner appropriate for key stakeholders and all levels of the organization.
• Courtesy, tact, and diplomacy are essential elements of the job.
• Ability to work both autonomously and collaboratively in a fast-paced environment.
• Self-starter with strong organizing and time management skills and the ability to work productively and efficiently in a fast-paced environment with multiple projects and timelines.
• Knowledge of consumer lending, consumer lending compliance, and consumer financial protection laws required.
• Adaptive to change, responds positively to altered circumstances or conditions.
• Possess a desire and willingness to learn and continually update knowledge base on financial concepts, strategies, systems etc.
• Take initiative to be a problem solver and provide suggestions to improve processes and efficiencies.
• Excellent inter-personal skills including the ability to collaborate with teams.
• Maintains confidentiality with others since information involves complex, detailed and often sensitive topics.
• Develops and maintains quality time frames and management of pipeline to achieve and meet required lending timelines.
• Ability to sit, talk and hear consistently
• Ability to stand, walk, and use hands to handle or reach occasionally
• Close vision (clear vision at 20 inches or less)
• Distance vision (clear vision at 20 feet or more)
• Ability to lift up to 10 pounds occasionally
• There are no unusual environmental factors (such as a typical office)
• Moderate noise (business office with computers and printers, light traffic)
Nice-to-haves
• One year of underwriting experience strongly preferred.
• Experience with Quality Control software preferred.
• Experience with analytical and reporting software preferred.
Apply Now
Apply Now