Person will be responsible for ensuring the accuracy and completeness of mortgage loan files and working with stakeholders to address prospect 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

📌 Lead Qc Analyst (Noida)
🏢 Ameriprise Financial
📍 Noida