We are seeking a IQA – Specialist (Underwriting) who will be accountable for verifying the accuracy of responses to quality assurance discoveries, documenting the findings, and suggesting appropriate measures for correction. The role also involves delivering timely reports to management, overseeing quality issues, and ensuring their timely resolution. Proficiency in conventional underwriting is preferred, with a particular emphasis on familiarity with US mortgage loan origination.
Roles and Responsibilities
- Maintain an optimized and efficient QA/QC plan.
- Manage production workflows and work queues.
- Review and verify loans with supporting documentation.
- Analyze loan risk and request additional information as necessary.
- Prepare/input reports on assessment findings.
- Conduct regular feedback sessions with team members.
- Check loan eligibility decisions and correctness of approving or rejecting applications.
- Review and specify loan conditions as necessary.
- Ensure compliance with regulatory and statutory standards.
- Document and effectively communicate reasons for approval/rejection of loans.
- Return loans with additional feedback to the loan underwriter for review.
- Upgrade information on processing and underwriting systems to verify, add, delete or waive conditions.
- Recommend areas of improvement to underwriters.
- Assist in providing training on new updates to underwriters and origination FTEs if required.
- Ensure compliance with company policies and workplace guidelines.
- Perform other job-related duties as assigned by reporting manager.
- Degree in business, banking, finance, or a related field.
- At least 3-4 years mortgage underwriting or comparable experience in QA/QC underwriting.
- Knowledge of State and Federal compliance regulations.
- Knowledge of Secondary Market guidelines.
- Ability to review audit documentation, perform analysis, validate, and document potential risk to determine course of appropriate corrective action and/or make recommendations of such action.
- Attention to detail, high level of accuracy, and ability to review self-created work.
- Excellent verbal and written communication skills and problem-solving skills.
- Team player, Adaptable to change, and ability to positively channelize pressure.
- MS Office & Analytical skills.
- Should be flexible with both day & nightshift.