RE Quality Control Audit II
- San Diego, CA
Are you passionate about creating an exceptional client experience?
Discover your opportunity with Union Bank, a division of the Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world. At Union Bank, we care about the details that matter most to our clients. We have our clients' best interest in mind, drawing on more than 150 years of experience to understand their distinct needs and tailor our solutions. We're part of 180,000 colleagues around the globe striving to be the world's most trusted financial group. Trust starts with a culture of putting people first and empowering you to achieve your potential. Join Union Bank, where being inspired is expected and creating results is rewarded.
Responsible for performing audits of residential mortgages and consumer equity loans/lines, including both UB internal production and external bulk loan purchases, and subordinations to ensure and monitor adherence with bank, regulatory and investor guidelines.
55% - Perform timely audits of loans selected for QC (residential and consumer), subordination and/or bulk purchase due diligence reviews to evaluate, analyze and assess risk, to ensure adherence to policies and procedures, to detect the potential of fraud, and to detect errors and omissions in the underwriting, processing and closing functions.
- Ability to analyze paystubs, W-2s, tax returns (personal, partnership, corporate), and P&Ls, and to calculate income.
- Ability to analyze appraisals to ensure value supported,
- Ability to analyze credit reports to ensure proper calculation of debt service and capacity to repay,
- Ability to ensure adherence to compliance and regulatory requirements.
- Ability to audit the more complex loan files involving multiple sources of income, non-entity borrowers, and related transactions.
10% - Perform monthly audits of approved and denied modification requests, relying upon a working knowledge of default management, FDIC guidelines and CLDM policies and procedures.
- Ability to work independently and meet audit goals with nominal revisions to work product.
- Ability to perform special Ad Hoc audit requests and meet timeline requirements, while managing normal audit volume to ensure completeness and accuracy.
30% - Ability to document all findings in the QC database(s) to record the results of each individual audit.
- Strong writing skills to ensure findings are accurate and written in a clear and concise manner.
- Maintain and update various logs to meet department and auditing requirements.
5% - Perform other duties as assigned.
- Requires a minimum of 5-7 years residential mortgage or consumer loan/line Quality Control auditing and/or underwriting; or equivalent work experience.
- Requires strong working knowledge of the mortgage lending process, including the underwriting, processing, closing, compliance, and default management areas.
- Working knowledge of FNMA/FHLMC underwriting standards and Seller/Servicer guidelines is preferred.
- Strong verbal and written communication skills, ability to effectively communicate with internal/external clients, and working knowledge of computer programs (Word, Excel, etc).
- BA/BS degree preferred or strong work history in mortgage industry.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it's the bank's policy to only inquire into a candidate's criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses .
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