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 12 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.
Summary
The Quality Control Auditor (QCA)-II is responsible for quality control audit re-underwriting/review of closed loans. Reporting to the Quality Control Operations Manager, this position will capture loan data as specified in the Quality Control system, comment on deficiencies as necessary and grade loans accordingly.
This is a full-time, exempt level position. The hours are Monday - Friday, 8:00am to 5:00pm.
Remote work allowed.
Essential Functions
The following is a list of essential functions, which may be subject to change at any time and without advance notice. Management may assign new duties, reassign existing duties, or eliminate based on business needs at its discretion.
Essential Duties And Responsibilities
- Enter defined loan data into Quality Control system.
- Complete review of all closing documents and disclosures on all loan’s files, ensuring all legal documents are present; comment on loan inaccuracies, deficiencies, and missing items.
- Make determination that loan elements are acceptable to appropriate investor guidelines.
- Complete credit re-underwrites 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.
- 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.
- Analysis of Note, Mortgage, and Assignment with emphasis on accuracy.
- Perform appropriate High Cost, APR, Amount Financed, and State Predatory tests in the Compliance Review system.
- 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.
Qualifications
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above 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
- Bachelor’s degree in business, or related field;
- Or a minimum of 5-10 years mortgage underwriting/audit experience in lieu of education
Skills And Competentcies
- Excellent verbal and written communication skills
- Excellent customer service / interpersonal skills; ability to work in a team environment.
- 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.
- Ability to multi-task and prioritize accordingly; remain flexible, and adapt to a changing environment, shifting priorities as needed
- Ability to maintain confidential information.
- Sound decision and judgment making skills, and ability to problem solve.
- Ability to perform self-directed research using agency guidelines, regulatory policies, and state level compliance guidelines.
- 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.
- Knowledge of Fannie Mae, Freddie Mac, FHA, and VA lending requirements and lending compliance is a must.
- Knowledge of lending compliance such as TRID is a highly desired.
WORKING CONDITIONS
This position is a remote position. To be successful in this role, an individual will need to have high speed internet. An individual will also need to have the ability to establish a quiet workspace that is distraction-free, and conducive to continuous work and will provide for confidentiality.
PHYSICAL DEMANDS
Xactus promotes an equal opportunity workplace, which includes reasonable accommodations of otherwise qualified disabled applicants and team members. Please contact your supervisor or Human Resources with questions regarding the physical demands of this position.
- Lifting/carrying up to 10 lbs.
- Manual dexterity for computer and phone work.
- Speaking, hearing and vision are required to perform essential functions.
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.”
The compensation offered for this position starts at $60,000+ annually. Compensation is commensurate with experience.
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.
