Sr. Quality Control Auditor - Servicing at Flagstar Bank, N.A. in Troy, Michigan

Job Description:

Position Title
Sr. Quality Control Auditor - Servicing

Location
Headquarters-Troy, MI

Job Summary
Primary responsibilities include in-depth file reviews on all quality control audits assigned. This position requires extensive experience with conventional and government loans, as well as regulatory and investor guidelines, to make critical decisions regarding the quality of the loan file. The Sr. Quality Control Auditor is expected to make loan level decisions and work closely with other operational departments and vendors.

Job Responsibilities:

• Audit performing and default mortgage servicing fuctions, using a standardized, consistent, and objective format. Research investor guidelines and issue findings after conducting independent QC reviews. This includes reviewing mortgage servicing policies, reviewing, analyzing, and interpreting HUD, FNMA, FHLMC, VA, USDA, and other investor servicing guidelines, as well as various servicing related regulations. Servicing coverage includes, but is not limited to, payment processing, customer statements, escrow accounting, flood compliance, ARM adjustments/conversions, disclosures, assumptions, payoffs, loss mitigation, bankruptcies, collections, claims, foreclosure, and general servicing. Identify and document deficiencies, errors, omissions and/or fraud for each file reviewed, and recommend a course of corrective action. Act as an active contributor (SME) during implementation of corrective action and/or training, whichever may apply.


• Discussing results/disputes with audit vendor. Attend regular meetings with peers and manager to review findings, discuss and agree on procedures, and arrive at mutually agreed upon recommendations that will result in best practices within the vendor.


• Prepare vendor scorecards and chair meetings to discuss audit results and corrective actions.


• Staying up to date on latest servicing guidelines and regulatory guidelines. Seek out and complete online or offsite investor training as it relates to the job function. Coordinate testing script updates with vendors and business units as needed.


• Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar's internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.

Job Requirements:

• HS Diploma, GED or Foreign Equivalent


• Bachelors Degree Required


• 5+ Years of mortgage servicing experience (performing and default), consumer lending, quality control/monitoring/assurance, risk management, and/or regulatory compliance.


• Significant experience with FHA/VA/USDA/FNMA/FHLMC/Consumer Loans


• Strong knowledge of investor/insurer guidelines, applicable laws, regulations, company audit policies/procedures and the ability to effectively interact with all levels of senior management.


• Strong understanding of mortgage servicing documentation and regulatory compliance requirements.


• Strong Interpersonal Communication Skills


• Demonstrated experience with operational and data interpretation, analysis, and reporting.


• Ability to support multiple tasks, with varying levels of complexity, importance and involvement


• Highly professional and well-poised in communication with staff, executive leadership, and external parties


• Advanced analytical, problem solving and decision-making skills


• High energy, strong leadership, an ability to initiate and effectively manage multiple projects simultaneously


• Knowledge of regulatory and compliance matters affecting the mortgage industry


• Knowledge of consumer regulation and protection laws


• Ability to maintain Excel spreadsheets


• Ability to establish credibility and strong partnerships with management and peers to maintain positive working relationships


• Exhibit a keen attention to detail and the ability to quickly comprehend information

Internal Use Only - Job Band G