Quality Control Specialist-1 at Wintrust Financial Corporation in Rosemont, Illinois

Job Description:

Wintrust Mortgage was founded in 1981 to help customers achieve the American dream of homeownership and has since successfully navigated the ever-changing real estate market. As a full-service, federally chartered lender with offices located across the country, we’re dedicated to providing customers with a wide range of mortgage products and have the capability to lend in all 50 states. To complement the basic conventional, FHA, and VA loan programs, we are uniquely positioned to meet the needs of the continually evolving market. Wintrust Mortgage is part of Wintrust, a financial services company with more than $45 billion in assets.

EXISTING JOB CODE/TITLE INFORMATION

Job Title:

Quality Control Specialist

Job Code:

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Department:

WM, Quality Control Department

Discipline:

Quality Control Auditor

Location:

Rosemont, IL

Grade:

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Family:

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Reports to (Title):

Supervisor Quality Control, Lisa Wahnefried

POSITION SUMMARY

Position Overview The Quality Control Specialist will report to the Quality Control Supervisor, and work closely with the operational departments.  The primary responsibility is to perform vendor, and prefunding mortgage audits.  Candidate is expected to demonstrate knowledge of the mortgage industry and assist with planning and reporting of audits to facilitate Wintrust Mortgage’s compliance with federal laws, state regulations, corporate standards and generally accepted quality control and underwriting principles.  The role offers a high level of visibility to the Wintrust Mortgage strategy and an opportunity to contribute directly as it relates to audit oversight, and exam management.

KEY ACCOUNTABILITIES

TIME SPENT

ACCOUNTABILITY

30

This position requires a thorough understanding of Agency guidelines and perform Quality Assurance reviews of selected loan files (FHA, VA, Conv, USDA) in accordance with the Quality Control program and accepted quality control standards of agencies, federal/state laws, and investor requirements. In depth working knowledge of AUS systems, including Loan Prospector, Desktop Underwriter and Government Underwriting System. Preferred manual underwriting experience, as well as automated.

30

• Review the loan file from the perspective of Income/Employment, Asset, Collateral and Credit perspectives


• Review the loan file from the data integrity standpoint and identify possible misrepresentations and red flags


• Confirm the loan file is complete from the Regulatory standpoint with appropriate documentation


• Responsible for re-underwriting loans based on high-risk characteristics to determine if investor guidelines were met and if sound underwriting practices were made

20

Consistently meet established productivity and quality measurements on a consistent basis.

10

Develop and maintain a thorough knowledge of quality control requirements, policies and procedures, and agency guidelines.  Prepare presentation materials in support of Quality Control initiatives.

10

Participate in special investigations of unusual borrower activities which may be referred to the department and perform other duties within Quality Control as needed.

100%

LEVEL QUALIFIERS

Problem Solving:

Resolves routine, standard problems

Knowledge:

Understands fundamental concepts

Discretion:

Exercises judgment within defined procedures and practices

Supervision:

Individual Contributor

Budget Responsibility:

None

Complexity Scope:

Accountable for defined work assignments

Other Fiscal Responsibility:

Advanced knowledge of various computer programs including Excel, Word, and PowerPoint.

Minimum of two years quality assurance/control, mortgage underwriting, auditing or related experience required; previous experience in conventional and government underwriting and/or Quality Assurance/Quality Control function in the mortgage banking industry.

Detail oriented with strong analytical and organizational skills, including the ability to evaluate facts and data to draw conclusions.

Strong written and communication skills are critical.

Experience:

2-5 years

Education:

Associates Degree or equivalent

Certifications Required:

FHA Direct Endorsement/VA SAR Certifications preferred

Thorough knowledge and understanding of agencies (FNMA, FHLMC, VA, FHA, USDA, etc) and other investor guidelines

Related Experience:

2-5 years business experience

Computer Skills:

Advanced Computer Skills

Travel Requirements:

Moderate, 10%-50%

Non-Standard Hours:

8:30-5:00

ADA Requirements:

N/A

Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, citizenship status, sex, sexual orientation, gender identity and expressions, genetic information, marital status, age, disability, or status as a covered veteran or any other characteristic protected by law.