Vendor Quality Control Analyst jobs in Minnesota

SUMMARY:

Organizes, creates, and performs quality control audits of mortgage servicing. Professional and administrative work associated primarily with reviewing, maintaining, and applying all agency, investor, federal, state, and local regulations/guidelines to ensure compliance with mortgage servicing requirements. Must be able to maintain high levels of service to management, employees, clients, and partners.

ESSENTIAL RESPONSIBILITIES & DUTIES:

Level I

• Ensures timely completion of monthly and quarterly mortgage servicing audits.
• Supports the servicing team by completing reviews and citing accurate, concise, and constructive audit exceptions.
• Works with the quality control team to complete all required audit tasks for each workgroup in a timely fashion according to prescribed QC turn times.
• Analyzes individual loan files and determines compliance with federal and state regulations as well as lender and investor guidelines.
• Provides quality loss mitigation, early payment default, and other delinquent/default loan servicing reviews.
• Reviews new servicing loan set up, mortgage insurance premium billing, customer service, successor in interest, escrow administration, ARM adjustments, loan transfers, complaints, and paid-in-full files on a timely basis each quarter for all clients.
• Follows QC policies and procedures to ensure compliance with scopes of work.
• Effectively incorporates feedback and new regulatory training into upcoming reviews.
• Validates data integrity of loan in servicing systems.
• Escalates red flags/evidence of fraud and/or misrepresentation to management immediately.
• Reviews credit reports and investor reports for accuracy regarding delinquent or negative credit reporting information.
• Evaluates servicing phone calls by manager request to ensure the customer service department maintains requirements when speaking with consumers.

Level II

• Must be able to perform all responsibilities and functions listed for Level I with a high degree of independence
• Act as resource/subject matter expert for the servicing QC team, Servion, and our credit union QC partners.
• Able to perform reviews effectively and efficiently in all AOIs/workgroups for Servion as well as clients.
• Assist with exception editing, file checks, and escalated fraud/misrepresentation reviews, as needed.

Level III

• Must be able to perform all responsibilities and functions listed for Levels I & II with a high degree of independence
• Creates, selects, and assigns loans in audit workgroup amongst all analysts.

• Able to monitor and assist with production management.
• Engage in verbal and written communication with our credit union QC partners and internal Servion staff, as needed.

• Work with management on setting monthly and quarterly departmental goals for QC servicing team
• Aid in the creation and updating of servicing QC policies, procedures, and training materials.
• Assist management with annual performance reviews for servicing QC team, as needed.
• Lead, guide, mentor, and train entire servicing QC team.
• Manage individual and department pipelines to ensure reviews are being conducted efficiently and effectively within the required turn-times.
• Ensure workload (servicing QC production and remediation) is accounted for and properly distributed during times when staff are on PTO.
• Effectively communicate changes to Servion QC policy and procedures and ensure QC servicing team is adhering to Servion and clients QC policies and procedures.
• Actively assist management in developing process improvements and efficiencies for servicing QC team.
• Assist management with software related items, as needed.
• Other duties/special projects as assigned by management.

ESSENTIAL KNOWLEDGE, SKILLS, ABILITIES:

Required:

• Knowledge of policies, principles, and practices of mortgage loan processing, underwriting, and servicing.
• Familiarity with mortgage loan servicing documentation.
• Ability to multi-task between analytical projects and adapts to modification of the work flow.
• Ability to prioritize in a high volume, high paced dynamic environment.
• Demonstrated critical thinking skills.
• Strong analytical skills with a high attention to detail.
• Proficient in Microsoft Office applications (i.e., Excel, Teams, Outlook, Word, etc.)
• Strong written and verbal communication skills.
• Works well with others in a team environment as well as independently.

• Ability to identify delinquency on a credit report.
• Familiarity with federal, state, local, and investor/agency requirements regarding residential mortgage loan servicing.

Preferred:

• FICS, DMI, and/or Encompass experience.
• Mortgage servicing experience.
• Red flag/fraud investigation experience.
• Experience researching rules and regulations, i.e., utilizing AllRegs.

Education: High School Diploma

Experience: 2 years mortgage servicing or QC servicing experience.

Licenses/Certifications: none