QAQC QC Auditor II

WHO WE ARE:

Xactus (pronounced ‘Zac-tus') is the leading verification innovator for the mortgage industry. We have over 6,500 clients ranging from the largest bank and non-bank mortgage originators to credit unions and mortgage brokers. With 2 operation centers across the U.S., Xactus works closely with our clients to digitally integrate a 360° approach to verification across their workflows. As a result, lenders can easily access the technology necessary to meet consumer demands for a modern mortgage experience with industry-leading speed, reliability, and accuracy - while also closing more loans more quickly with greater profitability.

We provide a friendly work environment while also providing many opportunities for you to enhance your skills. We have a top-notch financial leadership team who prioritizes building talent. If you are curious and searching for a change that will be fun and rewarding, please reach out to us! We would love to have you on our team!

WHO YOU ARE:

You are a career-minded, driven individual who is looking for a position that challenges you and supports your professional development.

THE BENEFITS WE OFFER:

A friendly, supportive environment which is highly rated by Xactus employees. Feedback from our employees says: 'The people I work with treat each other with respect,' 'I feel accepted by my coworkers,' and 'The person I report to cares about me as a person.'

Xactus offers medical, vision and dental insurances, bonus programs, fitness reimbursement and other healthy life-style programs through our benefits carrier, 401k plan with a company match, short and long-term disability, life insurance, accident and critical illness insurance, health savings account, flexible spending account, employee assistance program, legal services, employee discounts and more.

SUMMARY:

Responsibilities include quality control audit re-underwriting review of closed loans. The Quality Control Auditor will capture loan data as specified in the Quality Control system, comment on deficiencies as necessary and grade loan accordingly.

ESSENTIAL FUNCTIONS: The following is a list of essential functions, which is subject to change at any time and without advance notice. Management may assign new duties, reassign existing duties, or eliminate a function based on business needs or at its sole discretion.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Complete credit re-underwrite on all loan files pursuant to AUS findings or manual loan approvals.
• Analysis of property appraisal to determine if value is supported and property meets all eligibility requirements
• Analysis and recalculation as required of all borrower income sources.
• Analysis of borrower’s debt load and calculation of debt to income ratio.
• Make determination that loan elements are acceptable to appropriate investor guidelines.
• Must be able to seek out and identify potential misrepresentation and fraud.
• Identify any potential defect trends noted within a particular QC period or series of periods.
• Interpret the results of any re-verifications received at the time of the QC review and cite defects accordingly
• Enter defined loan data into Quality Control system
• Complete review of all closing documents and disclosures on all loans files, as able
• Analysis of Note, Mortgage, and Assignment with emphasis on accuracy.
• Check file for all legal documents.
• Perform appropriate High Cost, APR, Amount Financed, and State Predatory tests in the Compliance Review system.
• Comment on loan inaccuracies, deficiencies, and missing items
• Assign loan level defects pursuant to the severity and type of deficiency with an emphasis on overall investor and agency risk.
• Ability to consistently meet and exceed daily productivity goals
• Ability to achieve and maintain quality standards.
• Maintains consistent schedule for training and mentoring with QC Auditor II or above.
• Performs other duties as required.

QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION AND/OR EXPERIENCE

• A minimum of 5-10 years mortgage underwriting/audit experience
• Bachelor’s degree in business, or related field; or equivalent work experience.

SKILLS AND COMPETENTCIES:

• Knowledge of Fannie Mae, Freddie Mac, FHA, and VA lending requirements and lending compliance.
• Excellent verbal and written communication skills.
• Sound decision and judgment making skills.
• Ability to read, analyze, and interpret common mortgage and financial documentation.
• Ability to effectively document and explain specific mortgage loan defects in a concise but thorough manner.
• Use of proper grammar and spelling is a must.
• Ability to apply advanced mathematical concepts such as calculating complex income scenarios, liabilities and overall ratios for any given loan.
• Ability to apply mathematical operations to assess credit eligibility criteria as required for agency underwriting approval.
• Ability to define problems, collect data, establish facts, and draw valid conclusions.
• Ability to perform self-directed research using agency guidelines, regulatory policies and state level compliance guidelines

WORKING CONDITIONS:

• Traditional office environment with low-to-moderate office noise (computers, phones and business conversations). The position may be remote from main offices
• May require flexibility in hours.

PHYSICAL DEMANDS:

Xactus promotes an equal opportunity workplace, which includes reasonable accommodations of otherwise qualified disabled applicants and team members. Please contact your supervisor with questions regarding the physical demands of this position.

• Lifting/carrying up to 10 lbs.
• Manual dexterity for computer work
• Speaking, hearing and vision are required to perform essential functions

ADDITIONAL INFORMATION REGARDING EMPLOYMENT WITH XACTUS:

If applying for a position at Xactus, candidates must be a resident of the United States, and should be authorized and eligible for employment in the United States. Xactus does not provide visa sponsorship at this time.

If hired to work at Xactus, employment is contingent upon successful completion of required background checks and pre-employment drug screening.