Quality Control Analyst - Consumer Real Estate

At Liberty, we are proud to integrate our Diversity, Equity, and Inclusion (DE&I) throughout all functions and areas of the Bank to maximize our impact and exceed goals. We believe deepening our DE&I strategies in the workplace and communities we serve creates a much better place to work for our teammates and a safe place where our customers are connected and supported. We take pride in promoting a socially responsible and sustainable future through initiatives and investment. 

SUMMARY OF THE JOB: 
Reporting to the Credit Risk Manager, the incumbent is responsible for an independent comprehensive review of a percentage of originated and pre-closing approved first mortgage files, including Conventional, Portfolio and all Government loan types within Investor guideline time frames. Also responsible for a comprehensive review of a percentage of all 3rd Party Originated loan files. As well as a review of originated home equity loans and HELOCs. Responsible for all aspects of the pre­closing and post-closing quality control and compliance functions to minimize risk exposure and to ensure all loans meet the standards established by the company, investors, and regulators. 

ESSENTIAL FUNCTIONS:
•    Provide an independent quality review of random, targeted, and discretionary sampling of a certain percentage of loan file reviews in the consumer and consumer real estate area sampling of approved, but not yet closed first mortgage loans after Underwriter loan approval, and at least 10 days prior to closing.
•    Provide an independent quality review of a 10% minimum of first mortgage, home equity and HELOC files, and 20% minimum of 3rd party originated loans within 90-days after loan closing.
•    Independently prepare written quarterly reports to management as required by the secondary market investors, detailing any deficiencies discovered, identifying trends, potential developments, and areas of concern such as departures from the Bank’s established standards. Based on this analysis, each quarter the incumbent will present this report and make recommendations to executive/senior management for corrective action or adjustments to policies, procedures, and systems.
•    Appeal investors repurchase orders and mitigating deficiencies in order to compel the investor to retain the loan.
•    Provide an independent quality review of a sampling of non-originated first mortgage loans, FHA loans, and home equity loans on a quarterly basis.
•    Independently evaluate loans for overall file quality including compliance with Liberty Bank's policies and procedures and underwriting guidelines, along with secondary market and investor guidelines, including but not limited to Freddie Mac, Fannie Mae, FHA, CHFA, USDA and VA.
•    Independently re-underwrite loans and review overall credit quality and accuracy of data submitted and used in the automated underwriting systems for the loan decision process.
•    Independently perform reverifications of all income, asset and credit documents used in the underwriting and loan approval process for 100% of the loans in the first mortgage audit sample set. 
•    Independently review loans for regulatory compliance related items. Identify any potential red flags or areas of risk concern and escalate them for additional verification or investigation. Identify research and report underwriting deficiencies, inconsistencies, and/or misrepresentations.
•    Provide an independent review of closing and legal documents to ensure that the loan is properly collateralized, and the lien is sufficiently perfected.
•    Maintain a strong knowledge of investor, secondary market, and internal underwriting guidelines along with keeping abreast of changes as they occur.
•    Independently responsible for ensuring that file audits are completed efficiently, accurately and in a timely manner.
•    Must be knowledgeable of all conventional, government and affordable loan programs, as well as home equity products.
•    Maintain effective working relationships with internal and external customers to facilitate information exchange and insure conformity and consistency. 
•    Prepare and deliver loan files requested for quality control review for any Investor.
•    Maintain Lending Authority Matrix, revise and distribute ad hoc and periodic updates to management, as well as provide a periodic validation review for compliance personnel changes.
•    Maintain knowledge and skills in related technologies to effectively process file reviews.
•    Periodically revise the QC plan to be compliant with investor guidelines, regulatory guidance, and bank policies.
•    Maintain proficient knowledge of the Bank's underwriting policies, investor guidelines, and state and federal regulations, including but not limited to HMDA, ECOA, CRA, Truth in Lending Act-Reg Z, RESPA-Reg B, CFPB and other related regulations.

PRINCIPAL ACCOUNTABILITIES:
•    Perform daily quality assurance review of a minimum of 10% of first mortgage loans and home equity products, and a minimum of 20% of 3rd party originated loans within 90 days of closing date; as well as a percentage of approved, but not yet closed, first mortgage loans at least 10 days prior to loan closing. Perform quarterly quality assurance review of a minimum of 10% of non-originated first mortgage loans, including FHA, CHFA, USDA and VA, and 3rd party originated loans, and home equity products.
•    Credit Analysis: Identifies non¬conformance with established processing and underwriting procedures and makes recommendations to address weaknesses or deficiencies. 
•    Financial Analysis: Compiles necessary information required to adequately re-underwrite and review loan files. 
•    Customer Service:  Provides consistent levels of high-quality customer service to internal and external clients. 

MINIMUM REQUIREMENTS: 

•    Bachelor’s degree in business administration or relevant field is preferred or equivalent work experience.  
•    6-8 years of professional quality control experience, including the underwriting of residential mortgages, including Freddie, Fannie, portfolio, and correspondent loans.
•    Advanced understanding and knowledge of applicable lending regulations is necessary as is experience in residential and consumer loan processing and closing. 
•    Knowledge and understanding of applicable regulations related to residential mortgages, including Freddie, Fannie, portfolio, and correspondent. 
•    Government mortgage underwriting also required which includes FHA, CHFA, USDA and VA. Must also possess an understanding of the appraisal process.

PHYSICAL REQUIREMENTS: 
•    General Office Equipment
•    Keyboard Dexterity
•    Prolonged Sitting

COMPLIANCE:
Acts affirmatively in all activities under his/her control in conformance with the Bank’s Affirmative Action, Equal Employment Opportunity, and Fair Lending Programs to achieve the Bank’s goals and objectives. The Bank shall provide equal employment opportunity to all qualified persons, and continue to recruit, hire, train, and evaluate persons in all jobs without regard to race, color, religion, sex, national origin, or veteran status. 

Liberty Bank is an Equal Opportunity employer.  It is the policy of Liberty Bank to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.