Mortgage Quality Assurance (QA) & Quality Control (QC) Underwriter

Job Description

Department Summary: The Mortgage Loan Operations Team strives to simplify loan procedures and processes, provide superior services to the customer and create long-term value by streamlining the origination process and originating loans in a cost-effective manner. These objectives are accomplished through appropriate solutions deployed to mitigate, control, monitor, test, and report identified risks. The QA/QC underwriter will be part of the larger team which will act as an independent review and evaluation of the loan compliance and credit quality as well as the customer experience. Job Summary: The QA/QC Underwriter is responsible for appropriately identifying, assessing, and measuring the risk related to Opendoor Home Loans. These risks include, but are not limited to, evaluating the mortgage loan application and documents provided to the customer in a timely manner; ensure that safe and sound underwriting decisions are made by the team and, adherence to federal and state compliance requirements.

Essential Functions

• Proficient in all investor and company guidelines and familiar with other Opendoor Home Loans department responsibilities
• Ensures adherence to policies, guidelines and procedures as well as compliance regulations (HMDA, TILA, RESPA, HOEPA, FCRA and ECOA) and credit guidelines
• Communicates, demonstrates and inspires others to incorporate Opendoor’s vision and core values in daily activities.
• Promote a strong risk culture by using constructive dissent to appropriately challenge using data and analysis.
• Review procedures to ensure key processes are identified and conform to enterprise policies, standards, and procedures.
• Identify, log, track, analyze, develop action plans for, and remediate issues in an effective and timely manner, and perform root cause analyses to proactively identify and remediate issues.
• Perform timely Pre and or Post-Funding Quality loan reviews for mortgage originations to assess the accuracy and integrity of the information used to support the lending decision and adherence to federal and state compliance requirements, policy and procedures, GSE requirements, all related contractual terms and agreements.
• Participate in reviewing and maintaining all Pre/Post Fund Quality scripts, procedures, and methodologies.
• Work with business to ensure proper identification of cures.
• Ensure consistent feedback to production management as it relates to quality and escalation to Senior Management when no corrective actions occur.
• Communicate and facilitate within the quality review team process, procedure and regulatory changes as necessary.
• Provide sufficient and timely reporting to management as required.
• Participate in the identification and monitoring of trends to provide consistent and actionable feedback to Senior Management on gaps in need of improvement.
• Ability to collaborate with business units to ensure root-cause analysis is incorporated into the correction action process.
• Maintain a high degree of accuracy, departmental productivity and quality team goals.
• Provides measurable standards of achievement for proper management control and staff development.
• Consistently contributes to the ongoing Mortgage Loan Operations efforts to deliver process efficiencies to reduce costs and improve quality and productivity.
• Manages and/or participates in various operation projects.

Specific Skills Required:

• Self-starter with the ability to plan and prioritize workload for self
• Strong analytical skills and decision-making ability to make lending decisions and translate guidelines
• Strong understanding of mortgage lending including operations and mortgage compliance-must understand TRID
• Ability to work independently and as a team; ability to garner support and collaborate with others
• Strong written and verbal communication skills
• Strong organizational skills to manage self and multiple priorities; and meet deadlines in a fast-paced work environment
• Strong lean towards technology and leveraging technology in creative ways
• Ability to work collaboratively and supportively with management to achieve business objectives
• Thorough understanding of Conventional (Fannie Mae, Freddie Mac) and Government (FHA VA)

Education/Experience:

• Two (2) years of pre-fund or post fund quality review (QA/QC), processing, or underwriting experience
• Bachelor’s degree or equivalent experience from which comparable knowledge and abilities can be acquired
• High school or G.E.D. equivalent required

More About Us Want to learn more about us and how we are revolutionizing the home buying and selling process? Learn more about us on our website, check out our profile on The Muse to learn more about our culture from our team members, or read our blog posts to hear about the work we are doing. We Offer the Following Benefits and Perks: - Full medical, dental, and vision with optional 70% coverage for dependents - Flexible vacation policy - Educational budget to invest in your career development and growth - Fitness/Commuter Benefit stipend - Generous parental leave - Paid time off to volunteer Please note that these benefits and perks are available only to Full Time team members and do not apply to contract roles. Opendoor values Openness Our team celebrates our diverse backgrounds. We believe that being open about who we are and what we do allows us to be better. Individuals seeking employment at Opendoor are considered without regards to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, gender identity or other protected status under all applicable laws, regulations, and ordinances. Apply for this job