Address
Form of workMortgage Quality Control Auditor
Houston Federal Credit Union
Employment Type: Full Time, Exempt
Location: Sugar Land, Texas
Department Hours Monday through Friday between - 8:00 a.m. - 5:00 p.m.
Our History
Originally chartered as Fluor Mid-Continent Employees Federal Credit Union, HFCU now has the strength of over $900 million in assets. We’re strong enough to provide the full range of financial products and services that our members demand and desire, while providing exceptional service that’s second to none. HFCU is a source of stability and strength because you, and thousands of members like you, have trusted us with your checking and savings, loans, investments, and more.
Our MissionThe Mission of Houston Federal Credit Union is to “Be our members’ advocate by helping them achieve their dreams with personalized financial solutions”. Our Mission Statement was adopted in February 2007.
Role:
Responsible for developing and maintaining mortgage loan Quality Control program that conforms to Fannie Mae and other mortgage related requirements for products offered by HFCU. The position will also assist with other internal audits as directed by the Vice President of Internal Audit.
Essential Functions & Responsibilities:
- Develop and implement an internal audit program to facilitate Mortgage Quality Control loan audits for real estate products offered by HFCU. These audits must conform to Fannie Mae and other mortgage related requirements for products offered by HFCU and should ensure that HFCU’s loans are sellable in the secondary market. Activities will include pre-close and post-close activities including evaluation of servicing components. Such a program may include the use of qualified third-party vendors to assist in the Quality Control reviews.
- Ensure that any third-party vendors utilized to meet the Quality Control activities are sufficiently qualified and meet the standards necessary to comply with HFCU’s mortgage loan Quality Control program including conformity with Fannie Mae and other mortgage related product offerings. A high level of responsiveness and service is expected from third-party vendors, and any vendor selected must satisfy HFCU’s third-party due diligence requirements. Final decisions for vendor selection will reside with the Vice President of Internal Audit.
- Provide any third-party vendor with the necessary documentation to complete Quality Control loan audits and serve as a liaison between HFCU staff for questions, missing documentation, and deficiencies identified. This includes resolutions and corrective actions plan which will be monitored through successful completion. The individual must ultimately have a complete understanding of HFCU’s mortgage loan and document archival systems and be able to perform duties without dependency upon HFCU staff for standard documentation.
- Audits must be sufficiently documented and supported, and reports will be prepared in support of the process as directed by the Vice President of Internal Audit. These reports should be supported by summarizing the scope of each audit performed, the objectives to be achieved, the testing and methods utilized, and identifying any observations, findings and deficiencies including recommendations for correction and improvement. Follow-up will be required to ensure that corrections for improvement are addressed to successful completion. Such documentation should be maintained in accordance with HFCU’s retention schedules and as outlined by the Vice President of Internal Audit.
- Conduct other internal audits as directed by the Vice President of Internal Audit and/or the Annual Internal Audit Plan. This includes the phases of planning, execution, and reporting in order to complete the assigned activities.
- Maintain comprehensive audit procedures to achieve program and audit objectives. Perform audits within established budgets, target dates, and Quality Control standards. Keep Vice President of Internal Audit informed of project status and results.
- Maintain knowledge of all federal, state, regulatory and other guidelines that pertain to Quality Control and audit responsibilities, and actively pursue training opportunities to stay abreast of changes and new developments as the credit union and mortgage industry evolves.
- Performs other job-related duties as assigned.
Knowledge and Skills:
- Experience
- Minimum five years of mortgage underwriting experience, with solid working knowledge of Fannie Mae underwriting and related guidelines, and federal, state and other regulatory guidelines that pertain to mortgage and real estate lending such as RESPA, Regulation B, Regulation Z, Fair Lending, HMDA, and the Safe Act.
- Experience with private investor and private mortgage insurance guidelines.
- Minimum of two years' experience in compliance and internal process auditing.
- Education
- (1) A bachelor's degree, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree.
- Compliance and Audit certifications preferable.
- Interpersonal Skills
- Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
- Other Skills
- Thorough knowledge of economic and accounting principles and practices, the financial markets, Credit Unions and the analysis and reporting of financial data.
- Combines pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Detailed oriented with strong organizational and follow-through skills.
- Excellent analytical, written, and verbal communication skills. Microsoft Excel, Working knowledge of related computer systems and applications.
- Advanced Excel expertise including the ability to create pivot tables, advanced formulas, and the creation of macros for efficient processing of data.
- Must be a professional self-starter with ability to work under minimum supervision, well organized, thorough, a critical thinker, committed, urgent, and resourceful problem solver.
- Physical Requirements
- While performing the duties of this job, the employee may be regularly required to stand, sit, talk, hear, reach, stoop, kneel, and use hands and fingers to operate a computer, telephone, and keyboard.
- Specific vision abilities required by this job include close vision requirements due to computer work.
- Light to moderate lifting may be required.
This Job Description is not a complete statement of all duties and responsibilities comprising the position.
