Contact-Rajiv Phanse (phone hidden)

rajiv.phanse@service 1st BPM.com

Post Funding & Post Close Audits Subject Matter Expert (SME)

Position Title:

Post Funding & Post Close Audit SME

Department:

Mortgage Operations / Quality Control / Compliance

Position Summary:

The Post Funding & Post Close Audit Subject Matter Expert (SME) is responsible for overseeing and executing comprehensive post-closing and post-funding loan audits to ensure loans meet investor, agency, regulatory, and internal compliance requirements.

This role ensures accurate loan delivery, document integrity, and mitigation of repurchase risk through strong quality control practices and process improvements.

Key Responsibilities

Post-Close & Post-Funding Audit Oversight

- Conduct detailed audits of closed and funded mortgage loan files to ensure compliance with:
- Agency guidelines (FNMA, FHLMC, FHA, VA, USDA)
- Investor overlays
- State and federal regulations (TRID, ECOA, TILA, RESPA)
- Review loan documentation for completeness, accuracy, and enforceability.

Quality Control & Risk Mitigation

- Identify, document, and escalate critical defects that may result in:
- Repurchase demands
- Indemnification exposure
- Regulatory penalties
- Analyze trends in defects and recommend corrective actions.

Loan Delivery & Investor Compliance

- Validate loan data integrity prior to loan sale or securitization.
- Ensure proper boarding and investor delivery package accuracy.
- Support due diligence reviews for correspondent and secondary market delivery.

Audit Reporting & Stakeholder Communication

- Prepare detailed audit findings reports including:
- Severity grading (minor/major/critical)
- Root cause analysis
- Corrective Action Plans (CAP)
- Collaborate with underwriting, closing, funding, and compliance teams to resolve issues.





Process Improvement & SME Support

- Act as the subject matter expert for post-close QC policies, procedures, and evolving investor guidelines.
- Assist in updating audit checklists, workflows, and SOPs.
- Provide training and guidance to audit analysts and operational teams.

Regulatory & Guideline Monitoring

- Stay up to date on:
- Agency updates (Fannie Mae Selling Guide, Freddie Mac Guide)
- CFPB and regulatory changes
- Investor bulletin updates
- Ensure audit practices remain compliant with current requirements.

Required Qualifications

Experience

- Minimum 5-10 years of mortgage operations experience with strong focus on:
- Post-close audits
- Post-funding QC reviews
- Mortgage compliance
- Expertise in reviewing loan files for salability and investor adherence.

Knowledge & Skills

- Deep understanding of:
- Loan documentation and closing requirements
- Mortgage QC defect taxonomy
- Regulatory compliance
- Secondary market and investor delivery
- Strong analytical, investigative, and reporting skills.

Technical Tools

- Familiarity with LOS systems such as:
- Encompass
- Empower
- Black Knight
- Proficiency in Excel and audit tracking tools.

Preferred Qualifications

- QC Certification or compliance credential (CAMS, CMB, CRCM plus)
- Experience supporting correspondent lending and loan sale due diligence
- Leadership or mentoring experience in QC teams

Key Competencies

- Detail-oriented and risk-focused
- Strong communication with cross-functional teams
- Ability to manage multiple audits under tight timelines
- Process-driven and compliance-minded

Work Workplace

- Full-time role in mortgage operations environment
- Hybrid/Remote options depending on company structure
- High interaction with Compliance, Underwriting, Closing, and Secondary teams

📌 Post Funding & Post Close Audits Subject Matter Expert US Mortgage (Bengaluru)
🏢 Service 1st Bpm
📍 Bengaluru