Senior Mortgage Quality Control Specialist

Job Description:

PRIMARY FUNCTION:

The Senior Mortgage Quality Control Specialist is responsible for administering and executing quality control reviews for mortgage lending activities to ensure compliance with applicable regulations, investor and insurer requirements, internal policies, and delegated lending authority. This role analyzes review results, identifies trends and control gaps, prepares reporting for management, and supports corrective action planning. The position also develops standardized quality control practices, contributes to training and process improvement efforts, researches internal and external audit findings, and partners with Audit and Compliance to promote a consistent, risk-aware control environment.

JOB DUTIES AND RESPONSIBILITIES:

Quality Control (Mortgage):

• Conducts comprehensive pre-funding quality control reviews of loan origination and sub-servicing activities to verify compliance with investor, insurer, and guarantor guidelines, including Fannie Mae, Freddie Mac, FHA, VA, USDA, and VHDA requirements, as well as applicable federal and state regulations.
• Prepares and delivers quality control reports on first mortgage loans closed through VACU’s CUSO and communicates results to Mortgage Lending Management.
• Completes annual financial filings for Fannie Mae, Freddie Mac, FHA, and applicable private investors in accordance with required timelines and standards.
• Serves as the primary contact for MERS and is responsible for annual reporting and certification activities.
• Reviews denied mortgage loan files and adverse action notices to confirm that decisions are appropriately supported, clearly documented, and aligned with credit and collateral underwriting standards.
• Reviews early payment default files to assess adherence to applicable guidelines and evaluate whether risk factors were identified and analyzed appropriately.

Other Quality Control Responsibilities:

• Performs monthly HMDA reviews for Mortgage and Home Equity Lending and prepares data for quarterly and annual submission.
• Researches and resolves mortgage loan exceptions identified through audits and quality control reviews, and assists management in developing appropriate responses and corrective actions.
• Communicates quality control findings to management in a timely, clear, and professional manner.
• Partners with Compliance to provide guidance and risk assessment support to Mortgage and Home Equity Lending teams for upcoming regulatory, compliance, and operational changes.
• Serves as a subject matter expert on assigned projects related to compliance, quality control, and risk analysis.
• Collaborates with lending management, training, and project teams to develop and deliver recurring and ad hoc compliance and quality control training.
• Monitors industry and internal quality control trends, identifies opportunities for improvement, and recommends enhancements to quality control practices.
• Responds promptly to issues identified through reviews, escalates concerns as appropriate, and supports timely resolution of high-priority matters.
• Identifies potential system-related issues discovered through the quality control process and coordinates with the appropriate support teams for resolution.
• Assists with the review, development, and maintenance of procedures for the Home Loans business unit.

Other Responsibilities:

• Provides high-quality service to members, employees, and third-party partners.
• Maintains current knowledge of applicable federal and state regulations, corporate policies and procedures, loan documentation requirements, systems, and credit reporting practices relevant to the role.

• Comply with all published enterprise level policies and procedures including, but not limited to, Risk Management policies.
• Complete all required, ongoing enterprise level training including, but not limited to BSA, OFAC, and Information Security.
• Report all Risk Management Policy violations in accordance with policy.
• Performs other duties as assigned by management.

JOB QUALIFICATIONS:

Knowledge and Experience:

• Experience in mortgage quality control and demonstrated ability to analyze data, identify trends, and evaluate results preferred.
• Experience in a mortgage lending environment with a strong understanding of mortgage lending operations preferred.
• Leadership, management, or supervisory experience preferred.
• Mortgage quality control, mortgage underwriting, auditing, and compliance experience preferred.
• Demonstrated ability to research industry standards proactively and recommend or implement best practices preferred.
• Knowledge of residential real estate lending regulatory requirements, with the ability to apply those requirements appropriately in varying situations, preferred.

Skills and Abilities:

• Strong verbal and written communication skills, with the ability to present complex information clearly and effectively.
• Strong follow-through and attention to detail.
• Strong time management skills with the ability to manage competing priorities effectively.
• Ability to work both independently and collaboratively within a team environment.
• Ability to build effective working relationships with members, internal business partners, and third-party vendors.
• Demonstrated adaptability to changing requirements, deadlines, and priorities.
• Ability to perform effectively in a fast-paced environment with minimal supervision.
• Strong organizational skills and the ability to prioritize and manage multiple tasks simultaneously.
• Proficiency in Microsoft Office applications.

Minimum Education:

• Bachelor’s degree or equivalent combination of education or relevant mortgage quality control experience required.

PHYSICAL REQUIREMENTS:

• This job requires the ability to sit for long periods of time.  This job requires infrequent lifting or carrying of objects up to 10 pounds.