About Guaranteed Rate Companies: The Guaranteed Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, the Guaranteed Rate Companies has more than 7,000 employees in over 850 branches across the U.S., serving all 50 states and Washington, D.C. Since its launch in 2000, Guaranteed Rate Companies has helped more than 1 million homeowners with home purchase loans and refinances, with a total loan volume of more than $116 billion in 2021 alone. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates and delivering unparalleled customer service. Honors and awards include: Top Lender for Online Service for 2018 by U.S. News & World Report; Best Mortgage Lender for Online Loans and Best Mortgage Lender for Refinancing by NerdWallet for 2021; HousingWire’s 2020 Tech100 award for the company’s industry-leading FlashClose℠ technology; No. 3 ranking in Scotsman Guide’s 2021 list of Top Retail Mortgage Lenders; Chicago Agent Magazine’s Lender of the Year for six consecutive years; and Chicago Tribune’s Top Workplaces list for seven consecutive years. Visit rate.com for more information.
Pay Range : 60k to 70k + Bonus
About the Role
The Quality Control Auditor reports directly to the Quality Control Manager and is primarily responsible for conducting comprehensive reviews of closed loan files. This entails re-underwriting closed loan files and scrutinizing re-verification documentation pertaining to income and assets. Additionally, the candidate will thoroughly assess the entire loan and meticulously document their findings. It is imperative that the candidate ensures compliance with all regulatory requirements, including but not limited to federal and state laws, throughout all aspects of the loan process. The Quality Control Auditor reports directly to the Quality Control Manager and is primarily responsible for conducting comprehensive reviews of closed loan files. This entails re-underwriting closed loan files and scrutinizing re-verification documentation pertaining to income and assets. Additionally, the candidate will thoroughly assess the entire loan and meticulously document their findings. It is imperative that the candidate ensures compliance with all regulatory requirements, including but not limited to federal and state laws, throughout all aspects of the loan process.
Job Responsibilities:
- Responsible for accurately recording audit findings in a professional manner.
- Reports deficiencies and recommends remediation.
- Re-underwrite/audit closed loan files by completing new income /asset calculation and reviewing all credit reports and appraisals to ensure borrowers qualify for specific Investor loan program.
- Audit all origination, processing, underwriting, and closing documents for accuracy and compliance adherence with federal, state and investor regulations.
- Understand and stay informed on all changes to federal and state laws, as well as specific investor requirements and guidelines.
- Ability to research independently different Investor guidelines and Compliance regulations from investor, federal, state and company sites.
- Have the knowledge and understanding of how to conduct manual underwrites.
- Participate in Continuing Education webinars, seminars, and training as required by the QC Manager.
- Audit re-verifications received by the QC Re-verifications Department.
- Assist in ATAs as part of Agency QC requirements
- Additional other tasks as assigned.• Responsible for accurately recording audit findings in a professional manner.
- Reports deficiencies and recommends remediation.
- Re-underwrite/audit closed loan files by completing new income /asset calculation and reviewing all credit reports and appraisals to ensure borrowers qualify for specific Investor loan program.
- Audit all origination, processing, underwriting, and closing documents for accuracy and compliance adherence with federal, state and investor regulations.
- Understand and stay informed on all changes to federal and state laws, as well as specific investor requirements and guidelines.
- Ability to research independently different Investor guidelines and Compliance regulations from investor, federal, state and company sites.
- Have the knowledge and understanding of how to conduct manual underwrites.
- Participate in Continuing Education webinars, seminars, and training as required by the QC Manager.
- Audit re-verifications received by the QC Re-verifications Department.
- Assist in ATAs as part of Agency QC requirements
- Additional other tasks as assigned.
Competencies:
- Profound knowledge of TRID, Reg B, ECOA, UDAAP, and other pertinent federal and state mortgage regulations.
- Exceptional communication skills combined with a keen eye for detail.
- Demonstrated evidence of a robust work ethic, accountability, self-motivation, and an unwavering commitment to excellence.
- Outstanding analytical abilities, essential for thriving in a dynamic work environment, and understanding specialized knowledge of mortgage compliance and underwriting regulations. Problem-solving expertise, adaptability, and proficiency at multitasking are imperative.
- Proven track record of researching issues within loan files and assessing whether loans align with investors' credit criteria, possessing comprehensive understanding of both conventional and government underwriting guidelines.
- 5+ years of mortgage experience
Guaranteed Rate is an Equal Opportunity Employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason protected by law.
