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DRM Quality Control Administrator

CLEVELAND-44108, OH, US
12/09/2016

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Required Skills

written communication skills

Company

Infinity Consulting Solutions, Inc

Experience

Job Description

JOB SUMMARY

A DRM Quality Administrator, working under general supervision, applies expertise to two or more areas of default risk management, reviewing the quality of routine to moderately complex defaulted mortgage loan files and ensuring compliance and accuracy of loan documentation.

Reviews routine to moderately complex calculations and documentation standards related to primarily approved and denied loan modification programs, short sales, and foreclosure activities.

In addition, participates in the maintenance and updates to procedural manuals for the unit.

ESSENTIAL FUNCTIONS

· Reviews routine to moderately complex mortgage files related to loss mitigation alternatives, short sales, and foreclosure to ensure that the loan files are in compliance with Bank, regulatory and loss share policies, and that all required documentation, calculations, and system updates are done appropriately.

· Applies expertise in the assessment of various types of financial instruments (pertaining to assets, income, expenses), property management (bids, property preservation, taxes, insurance) sale of properties (valuations, listing agreements, realtor contracts, foreclosure bids, mortgage insurance, invoices, and closing disclosures).

· Performs the quality control review of loans submitted for approval or denial of various loss mitigation or liquidation solutions.

· Reviews the work of staff in select departments of DRM, ensuring that procedures and processes have been performed in accordance with Investor requirements, government regulations and the Bank's standard operating procedures.

· Documents work performed; records deficiencies discovered throughout the course of the review and evaluates the quality of the files or function audited.

· Records evaluation in database for future compilation into a management report.

· Determines the potential causes of any deficiencies noted throughout the course of the review.

· Prepares a clear, concise report of significant findings on a file-by-file basis, to be distributed to appropriate internal parties.

· Collaborates with QC personnel and provides research support for findings reported to management.

· Monitors loss mitigation files to ensure loss mitigation documents are executed and closed or cancelled per investor guidelines.

· Identifies trends or patterns in data and informs management of any possible risk to the bank or borrower.

· Accounts for inventory of all files selected for review or requested.

· Collaborates with Management and Business Analysts to ensure procedures and tracking databases are accurate reflect and track current QC operations.

· Partners with associates from other departments to stay abreast of their processes and the impacts on default risk processes.

· Keeps current on federal and state laws, regulations and exceptions affecting assigned and other related areas.

· Enhances skills and overall mortgage lending knowledge by participating in cross training programs as recommended/required by Manager.

ADDITIONAL COMMENTS

· Performs special projects and additional duties and responsibilities as required.

· Where applicable and when performing the responsibilities of the job, employees are accountable to maintain Sarbanes-Oxley compliance and adhere to internal control policies and procedures.

· Where applicable and when performing the responsibilities of the job, employees are accountable to maintain compliance with CFPB, Investor, Insurer, Federal, State and Local regulations.

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QUALIFICATIONS

Education and experience

· High school diploma or equivalent; college degree preferred.

· Minimum two years progressively complex experience in a default risk management capacity or equivalent mortgage lending, title, real estate or other related environment.

Knowledge, skills and abilities

· Knowledge of, and the ability to apply fundamental concepts related to default risk in a quality control function.

· Knowledge of the Bank's, Investor's, government, and default risk program requirements.

· Knowledge of most documents used by the Bank from origination through default risk management.

· Computer literate with basic to intermediate proficiency in word processing, spreadsheet, database and e-mail applications, and mortgage banking systems.

· Strong analytical and research skills.

· Strong verbal and written communication skills.

· Strong organizational skills.

· Detailed oriented.

· Ability to occasionally work additional hours during peak periods.

· Ability to work independently and meet production goals and deadlines.

· Ability to follow through assignments to completion.

· Ability to interact with all levels of staff and Management.