Job Description
Guaranteed Rate is the 7th largest retail mortgage lender in the U.S. By offering industry-leading tools, low-rate mortgages and unparalleled customer service, we’ve become the Home Purchase Experts®. At Guaranteed Rate, we think big—pushing beyond what most people believe is possible. We strive to work with the best of the best, building business with the best referral partners and hiring the best employees—allowing us to deliver world-class customer service. Our goal is to make sure every customer has a great experience. Headquartered in Chicago with 5,000+ employees in 300+ offices across the U.S. and licensed in all 50 states, we’ve helped thousands of homeowners with more than $24 billion in home purchase loans and refinances in just the past year alone.
The QC Auditor reports directly to the Quality Control Manager. Primary job duty is to re-underwrite closed loan files and review re-verification documentation for income and assets. The right candidate will be able to underwrite the loan in full and provide clear documentation on their own findings, which includes income/asset and credit analysis and calculation. The candidate will verify that all aspects of the loan meet Investor and Guaranteed Rate guidelines along with ensuring it meets all Compliance Regulations as well as Federal and State law.
Essential Duties / Responsibilities:
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.
Demonstrate the ability to clearly relay findings to QC Manager and other parties on a daily basis.
Understand and stay informed on all changes to?federal and state laws, as well as Specific investor requirements and guidelines.
Have the ability to research independently different Investor guidelines and Compliance regulations from the company’s internal intranet site. Be able to research loan guidelines within AllRegs.
Have the knowledge and understanding of how to conduct manual underwrites as well as re-running DU or LP on an "as needed" basis.
Participate in Continuing Education webinars, seminars and training on a monthly basis as required by the QC Manager.
Audit re-verifications received by the QC Re-verifications Department.
Other duties and responsibilities as may be assigned by the QC Manager.
Qualifications:
Minimum 4 years of experience in mortgage loan underwriting or auditing.
Proven ability to research issues with loan files and to determine whether loans satisfy investor’s credit requirements with complete knowledge of conventional and government underwriting guidelines.
Proven ability to research issues with loan files and to determine whether loans satisfy legal compliance requirement with all federal and state regulations including but not limited to: Truth-in-Lending Act, Real Estate Settlement Procedures Act, Equal Credit Opportunity Act, Home Mortgage Disclosure Act, Fair Lending, etc.?
Excellent verbal and written communication skills and knowledge of MS Excel.
Strong project and time management skills.
Strong analytical skills and attention to detail.
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.