Threadneedle group
Lead QC Analyst - Mortgage Lending
Threadneedle group, Virginia, Minnesota, United States, 55792
Overview
Person will be responsible for ensuring the accuracy and completeness of mortgage loan files and working with stakeholders to address opportunity areas, on an ongoing basis. The scope of work involves conducting QC for various loan products like Closed End 2nd Lien, Conventional (Agency), Government (FHA/VA/USDA), Agency High Balance, Jumbo and HELOC. Person is also expected to mentor underwriters, proactively identify any potential gaps and enable appropriate actions to fix them while also providing inputs to enhance the effectiveness/ efficiency of existing controls. Responsibilities
Review Work : QC specialist is expected to perform following reviews on loan files: Regulatory Compliance Review: testing compliance with Qualified Mortgage (QM) and Ability To Pay (ATR) requirements under the Dodd-Frank Act, and TRID Review. Credit Review: review each loan file and ascertain conformity with applicable guidelines and assign a credit event grade; includes review of loan documentation, LTV, CLTV, income, liabilities, DTI, asset statements, FICO, credit history, validating evidence of borrower's willingness/ability to repay, examining income, employment, assets, occupancy status, VOE/self-employed business documents (if applicable) and, for HELOC, verify presence of FND and execution by all parties. HELOC Regulatory Compliance Review: ROR testing, fee tolerance testing between Early Disclosure and final HELOC disclosure, TILA APR tolerance Testing on the final HELOC disclosure, and comparison of fees on HUD to fees disclosed on the final HELOC disclosure (if a HUD is used). Non-HELOC Regulatory Compliance Base Review: testing for applicable federal, state and local laws (high cost and/or anti-predatory), state-specific consumer protection laws including late charge and prepayment penalties, TILA adherence, and RESPA laws and regulations. Property Valuation Review: review the original appraisal to ensure completeness and adherence to lending guidelines. Effectively communicate and clear any required conditions. Resource Development / Mentoring
Assist in the training and mentoring of Underwriting Assistants, Junior Underwriters, and Underwriters. Projects & Initiatives
Research / Upskilling: gather information to make appropriate decisions and stay up-to-date on applicable guidelines, business, systems, etc. Value Addition: suggest/enable implementation of ideas to enhance control effectiveness and risk minimization. Other areas: as assigned from time to time. Administrative work
Responding to emails, managing trainings completion, etc. Qualifications
Required Qualification : Bachelors degree or equivalent (4-years). Preferred Qualification : Masters degree or equivalent (6-years). Additional knowledge, skills, experience or training : Bachelor’s degree in Business, Economics, Finance, or related field; equivalent professional experience in lieu of a degree; at least 5 years of mortgage underwriting experience for US-based mortgage company; understanding of Fannie Mae underwriting guidelines; experience reviewing appraisal reports and analyzing complex personal and business tax records; strong decision-making abilities; ability to work independently and with underwriting team; clear communication of decisions and justification; strong interpersonal and written communication skills; commitment to high-quality output; experience with Microsoft Office (Outlook, Excel, Word). PREFERRED additional knowledge, skills, experience or training : Master’s degree in finance; skills toward automation of controls; FHA Direct Endorsement certification and/or VA Credit Authority. About Our Company
Ameriprise India LLP has been providing client based financial solutions to help clients plan and achieve their financial objectives for 125 years. We are a U.S. based financial planning company headquartered in Minneapolis with a global presence. The firm’s focus areas include Asset Management and Advice, Retirement Planning and Insurance Protection. Be part of an inclusive, collaborative culture that rewards you for your contributions and work with other talented individuals who share your passion for doing great work. You’ll also have plenty of opportunities to make your mark at the office and a difference in your community. So if you\'re talented, driven and want to work for a strong ethical company that cares, take the next step and create a career at Ameriprise India LLP. Ameriprise India LLP is an equal opportunity employer. We consider all qualified applicants without regard to race, color, religion, sex, genetic information, age, sexual orientation, gender identity, disability, veteran status, marital status or any other basis prohibited by law. Employment Details
Full-Time Timings (2:00 PM - 10:30 PM) India Business Unit AWMPO AWMP&S President\'s Office Job Family Group Marketing/Product Management
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Person will be responsible for ensuring the accuracy and completeness of mortgage loan files and working with stakeholders to address opportunity areas, on an ongoing basis. The scope of work involves conducting QC for various loan products like Closed End 2nd Lien, Conventional (Agency), Government (FHA/VA/USDA), Agency High Balance, Jumbo and HELOC. Person is also expected to mentor underwriters, proactively identify any potential gaps and enable appropriate actions to fix them while also providing inputs to enhance the effectiveness/ efficiency of existing controls. Responsibilities
Review Work : QC specialist is expected to perform following reviews on loan files: Regulatory Compliance Review: testing compliance with Qualified Mortgage (QM) and Ability To Pay (ATR) requirements under the Dodd-Frank Act, and TRID Review. Credit Review: review each loan file and ascertain conformity with applicable guidelines and assign a credit event grade; includes review of loan documentation, LTV, CLTV, income, liabilities, DTI, asset statements, FICO, credit history, validating evidence of borrower's willingness/ability to repay, examining income, employment, assets, occupancy status, VOE/self-employed business documents (if applicable) and, for HELOC, verify presence of FND and execution by all parties. HELOC Regulatory Compliance Review: ROR testing, fee tolerance testing between Early Disclosure and final HELOC disclosure, TILA APR tolerance Testing on the final HELOC disclosure, and comparison of fees on HUD to fees disclosed on the final HELOC disclosure (if a HUD is used). Non-HELOC Regulatory Compliance Base Review: testing for applicable federal, state and local laws (high cost and/or anti-predatory), state-specific consumer protection laws including late charge and prepayment penalties, TILA adherence, and RESPA laws and regulations. Property Valuation Review: review the original appraisal to ensure completeness and adherence to lending guidelines. Effectively communicate and clear any required conditions. Resource Development / Mentoring
Assist in the training and mentoring of Underwriting Assistants, Junior Underwriters, and Underwriters. Projects & Initiatives
Research / Upskilling: gather information to make appropriate decisions and stay up-to-date on applicable guidelines, business, systems, etc. Value Addition: suggest/enable implementation of ideas to enhance control effectiveness and risk minimization. Other areas: as assigned from time to time. Administrative work
Responding to emails, managing trainings completion, etc. Qualifications
Required Qualification : Bachelors degree or equivalent (4-years). Preferred Qualification : Masters degree or equivalent (6-years). Additional knowledge, skills, experience or training : Bachelor’s degree in Business, Economics, Finance, or related field; equivalent professional experience in lieu of a degree; at least 5 years of mortgage underwriting experience for US-based mortgage company; understanding of Fannie Mae underwriting guidelines; experience reviewing appraisal reports and analyzing complex personal and business tax records; strong decision-making abilities; ability to work independently and with underwriting team; clear communication of decisions and justification; strong interpersonal and written communication skills; commitment to high-quality output; experience with Microsoft Office (Outlook, Excel, Word). PREFERRED additional knowledge, skills, experience or training : Master’s degree in finance; skills toward automation of controls; FHA Direct Endorsement certification and/or VA Credit Authority. About Our Company
Ameriprise India LLP has been providing client based financial solutions to help clients plan and achieve their financial objectives for 125 years. We are a U.S. based financial planning company headquartered in Minneapolis with a global presence. The firm’s focus areas include Asset Management and Advice, Retirement Planning and Insurance Protection. Be part of an inclusive, collaborative culture that rewards you for your contributions and work with other talented individuals who share your passion for doing great work. You’ll also have plenty of opportunities to make your mark at the office and a difference in your community. So if you\'re talented, driven and want to work for a strong ethical company that cares, take the next step and create a career at Ameriprise India LLP. Ameriprise India LLP is an equal opportunity employer. We consider all qualified applicants without regard to race, color, religion, sex, genetic information, age, sexual orientation, gender identity, disability, veteran status, marital status or any other basis prohibited by law. Employment Details
Full-Time Timings (2:00 PM - 10:30 PM) India Business Unit AWMPO AWMP&S President\'s Office Job Family Group Marketing/Product Management
#J-18808-Ljbffr