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 A Review Work QC specialist is expected to perform following reviews on loan files 1 Regulatory Compliance Review - Covers i testing compliance with applicable Qualified Mortgage QM and Ability To Pay ATR requirements defined under the Dodd-Frank Wall Street Reform and Consumer Protection Act as promulgated by the Consumer Financial Protection Bureau ii TRID Review 2 Credit Review Review each loan file and ascertain conformity with the applicable guidelines and assign a credit event grade accordingly It includes review of various areas like loan documentation LTV CLTV income liabilities debt-to-income ratios DTI asset statements FICO credit history validating evidence of borrower s willingness ability to repay the obligation examining income employment assets occupancy status VOE self-employed business documents if applicable verify presence of FND and execution by all parties for HELOC only 3 HELOC Regulatory Compliance Review Covers ROR testing Fee tolerance testing between Early Disclosure and final HELOC disclosure TILA APR tolerance testing on the final HELOC disclosure comparison of fees on HUD to fees disclosed on the final HELOC disclosure If a HUD is used 4 Non-HELOC Regulatory Compliance Base Review Covers testing for i certain applicable federal state and local high cost and or anti-predatory laws ii State-specific consumer protection laws including late charge and prepayment penalty provisions iii Truth-in-lending regulation Z TILA adherence iv Real Estate Settlement Procedures Act RESPA laws and regulations 5 Property Valuation Review Review the original appraisal to ensure completeness and adherence to applicable lending guidelines 6 Effectively communicate and clear any required conditions B Resource Development Mentoring Assist in the training and mentoring of Underwriting Assistants Junior Underwriters and Underwriters C Projects Initiatives - Research Upskilling - Gather information to make appropriate decisions Staying up-to-date on applicable guidelines business systems etc - Value Addition - Suggest enable implementation of ideas to enhance control effectiveness risk elimination minimization etc - Other areas - as assigned from time to time D Administrative work - responding to emails managing trainings completion etc 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 a related field equivalent professional experience in lieu of a degree At least 5 years of mortgage underwriting experience for US based mortgage company Understand Fannie Mae underwriting guidelines Experience reviewing appraisal reports and analyzing complex personal and business tax records Strong and sound decision-making abilities with the ability to work independently yet collaboratively with the underwriting team Clearly communicate decisions and the justification behind those decisions to the appropriate parties Robust interpersonal and communication skills both verbal and written Commitment to providing excellent customer service and high-quality output Experience with Microsoft Office applications such as Outlook Excel Word etc PREFERRED additional knowledge skills experience or training Master s degree in finance Skills to contribute toward full Partial automation of controls etc FHA Direct Endorsement certification and 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 family status or any other basis prohibited by law Full-Time Part-Time Full timeTimings 2 00p-10 30p India Business Unit AWMPO AWMP S President s OfficeJob Family Group Marketing Product Management