Quality Control Coordinator

WHO We Are:

Self-Help started in 1980 with a focus on economic inequality especially in communities that have faced systemic barriers in building wealth. At the core of what Self-Help does is a drive to create and protect ownership and economic opportunity. In other words, we’re committed to economic justice! Economic Justice means that all communities have the basic infrastructure they need to thrive, from high-quality schools to grocery stores selling fresh food resources that support opportunity at a neighborhood level regardless of demographics, income, or wealth. Since our founding, we’ve constantly sought to find new ways to pursue greater economic justice: from providing fair and affordable loans to working with partners to demand that lawmakers change unjust policies.

We are seeking a Quality Control Coordinator to join our Durham, NC team!

Position Summary:

Manages Quality Control program to ensure that mortgage loans are consistent with company guidelines, investor guidelines and Federal and State regulations. Works with lender partners, Government Sponsored Enterprises (‘GSEs’), and third-party vendors to ensure loan purchases are compliant with regulatory and organizational requirements. Responsible for determining the appropriate course of action for findings and irregularities as well as monitoring defect trends and all required reporting.

WHAT You’ll Do:

• Develop and maintain pre-funding and post-closing quality control program in compliance with investor and internal requirements.  Maintain written plans as well as procedures.
• Recommend and implement a quality control plan on bulk purchases.
• Analyze quality control results, trends, and defect rates as well as manage corrective action plans for each lender partner.
• Provide oversight of third-party, external QC partners and regularly monitor third party QC vendors.
• Oversee periodic reviews of external QC provider processes to ensure compliance with GSE requirements.
• Acts as subject matter expert for staff and external parties’ questions regarding pre-and post-closing quality control.
• Provide quarterly and monthly reports, meeting GSE and internal policies, to management of pre- and post-purchase QC reviews that include analysis of findings and curative recommendations.
• Negotiate repurchases and/or repurchase alternatives with GSEs and Lender Partners.
• Conduct new Lender due diligence and review contract terms to ensure QC requirements are clear and appropriate as well as Representations and Warranties are noted accurately and completely.
• Train, develop and coach Quality Control and Document Custody Specialist as appropriate.
• Manage QC workflows and processes
• Manage Document Custody workflow and processes.
• Analyze loan files to determine compliance with underwriting guidelines for agencies, private investors, and/or Self-Help, as applicable.
• Perform timely review and audit of files on both a pre-and post-purchase basis.
• Deliver files to QC vendors, investors, or regulatory requests.
• Review third-party & internal QC findings, analyze the loan files, and determine proper response based on knowledge of applicable guidelines and processes, state & federal regulations and investor requirements.
• Conduct independent analysis of loan files to determine whether the loan documentation supports the underwriting decision made and is consistent with guidelines and underwriting practices.
• Ensure loan files are compliant with fraud detection, red flags, and customer identification programs.
• Examination of loan documentation including credit history, housing expense, employment, assets, appraisal, title, legal documents, and disclosures.
• Review loan files to determine compliance with federal, state, and local regulations to include Truth in lending and Equal Credit Opportunity laws.
• Review loan files to determine compliance with grant requirements, as applicable.
• Taking proactive steps to ensure strong quality control compliance, including identifying opportunities to improve processes/workflows/practices.
• Review loan files and data on prospective bulk purchases, report on the quality of the underwriting and documentation, and report to Investment Committee findings and recommendations to mitigate risk.
• Review audit findings for accuracy and provide recommended actions if applicable.
• Primary point of contact for gathering and organizing requested mortgage documentation for internal and external audits and regulatory examinations.
• Support HMDA data collection and audits loan field data on an ongoing basis.
• Point of contact for loan data collection and reporting for external and internal stakeholders.
• Manage loan file system for virtual files in compliance with institutional, ECOA, FCRA, & FACTA requirements 
• Manage loan/program exception requests and ensure decisions are within acceptable risk tolerances.
• Perform other duties as may be deemed necessary.
• Develop and maintain pre-funding and post-closing quality control program in compliance with investor and internal requirements. Maintain written plans as well as procedures.
• Recommend and implement a quality control plan on bulk purchases.
• Analyze quality control results, trends, and defect rates as well as manage corrective action plans for each lender partner.
• Provide oversight of third-party, external QC partners and regularly monitor third party QC vendors.
• Oversee periodic reviews of external QC provider processes to ensure compliance with GSE requirements.
• Acts as subject matter expert for staff and external parties’ questions regarding pre-and post-closing quality control.
• Provide quarterly and monthly reports, meeting GSE and internal policies, to management of pre- and post-purchase QC reviews that include analysis of findings and curative recommendations.
• Negotiate repurchases and/or repurchase alternatives with GSEs and Lender Partners
• Conduct new Lender due diligence and review contract terms to ensure QC requirements are clear and appropriate as well as Representations and Warranties are noted accurately and completely.
• Train, develop and coach Quality Control and Document Custody Specialist as appropriate.
• Manage QC workflows and processes.
• Manage Document Custody workflow and processes.
• Analyze loan files to determine compliance with underwriting guidelines for agencies, private investors, and/or Self-Help, as applicable.
• Perform timely review and audit of files on both a pre-and post-purchase basis.
• Deliver files to QC vendors, investors, or regulatory requests.
• Review third-party & internal QC findings, analyze the loan files, and determine proper response based on knowledge of applicable guidelines and processes, state & federal regulations, and investor requirements.
• Conduct independent analysis of loan files to determine whether the loan documentation supports the underwriting decision made and is consistent with guidelines and underwriting practices.
• Ensure loan files are compliant with fraud detection, red flags, and customer identification programs.
• Examination of loan documentation including credit history, housing expense, employment, assets, appraisal, title, legal documents, and disclosures.
• Review loan files to determine compliance with federal, state, and local regulations to include Truth in lending and Equal Credit Opportunity laws.
• Review loan files to determine compliance with grant requirements, as applicable.
• Taking proactive steps to ensure strong quality control compliance, including identifying opportunities to improve processes/workflows/practices.
• Review loan files and data on prospective bulk purchases, report on the quality of the underwriting and documentation, and report to Investment Committee findings and recommendations to mitigate risk.
• Review audit findings for accuracy and provide recommended actions if applicable.
• Primary point of contact for gathering and organizing requested mortgage documentation for internal and external audits and regulatory examinations.
• Support HMDA data collection and audits loan field data on an ongoing basis.
• Point of contact for loan data collection and reporting for external and internal stakeholders.
• Manage loan file system for virtual files in compliance with institutional, ECOA, FCRA, & FACTA requirements.
• Manage loan/program exception requests and ensure decisions are within acceptable risk tolerances.
• Perform other duties as may be deemed necessary.

WHAT You’ll Need:

• Bachelor’s degree in related field or equivalent related experience.
• 5 years of experience in processing, underwriting or quality control or equivalent related experience, required.
• Prior quality control experience preferred.
• Working knowledge of Conventional underwriting guidelines for GSEs, private investors, and Self-Help as well as State and Federal regulatory requirements.
• Ability to work independently. Strong experience in fraud detection and red flags.
• Familiarity with standard concepts, practices, and procedures regarding fraud detection, red flags, and customer identification programs.
• Strong commitment to our mission – creating economic opportunity for traditionally underserved communities.
• Familiarity and experience with Self-Help portfolio guidelines and processes.
• Strong analytical skills and the ability to assess credit risk
• Good negotiation skills
• Preference for working in organizations that place priority on teamwork and collaboration.
• Strong written and verbal communication skills; facilitate meetings and present effectively
• Ability to handle multiple tasks and prioritize workloads.
• Attention to details
• Proficiency with MS Word and Excel.
• Ability to demonstrate Self-Help's Core Values:
  • Mission Before Self
  • Service With Excellence
  • Embracing & Promoting Change
  • Results Not Credit
  • Diversity as a Strength
  • Financial Sustainability for Mission Impact

If you are interested in who we are and what we do; have a strong desire to work in an organization that places a high priority on teamwork and collaboration; and are interested in working to help create economic opportunity for all – THIS is the place for you! "Click the “apply now” button to apply!"

Compensation: 

Competitive nonprofit compensation, based on experience, plus a generous benefits package.

Self-Help is committed to providing equal employment opportunities to all persons, regardless of race, religion, religious creed, color, national origin, ancestry, physical disability, mental disability, medical condition, genetic information, marital status, sex, gender, gender identity, gender expression (including transgender status), age, sexual orientation, military and veteran status, class or family status.