Manager, RE Prefunding Audit
Company: Logix Federal Credit Union
Location: Burbank
Posted on: February 22, 2021
Job Description:
--The RE Pre-Funding Audit Manager manages the functions and
responsibilities of real estate prefunding audit, funders, escrow
and funding. Ensures quality service through frequent communication
with processing and vendors; ensures loan docs, final funding,
legal file and CD are accurate. Acts as a system expert in RE Loan
Operations and related areas including staff training, pipeline
management, workload distribution and report preparation.
- Develops and maintains prefunding review process to encompass
review of Origination, processing and underwriting.
- Manages components of a comprehensive quality assurance program
to meet the requirements of all agencies and regulatory bodies
involved with mortgage origination.
- Maintains records of findings, produces and reports on trends,
and recommends changes to operations and/or to loan audit processes
and reports.
- Maintains a strong feedback loop between training, business
unit, processing, funding and underwriting groups to ensure staff
and management are aware of results and areas for improvement.
- Participates in the preparation, reporting and presentation of
monthly quality assurance results as well as root-cause analysis
and potential training opportunities. Develops reports and
presentations based on quality assurance results.
- Interprets, analyzes and evaluates data to determine gaps in
processes, recommends changes in procedure and provides training to
department on investigation and data integrity issues.
- Participates in Mortgage Operations initiatives to improve
efficiency and customer service
- Performs ongoing, structured, and rigorous testing of key
procedures and controls within business units; working with the
department manager to develop, draft and implement new testing
scripts.
- Assists in researching, designing, and coordinating processes
to set up or improve various mortgage programs within the
department.
- Acquires and maintains knowledge of relevant product offerings
and support policies in order to provide technically accurate,
workable and cost-effective solutions.
- Corresponds with investors and responds to any investor audit
issues.
- Monitors daily workflow of Real Estate loans to ensure
deadlines are met, regulations are followed, and all functions are
covered.
- Updates policy and procedures, training, statistical reporting,
and initiates new products and services.
- Manages compliance of initial disclosures, re-disclosures
active and the issuing of post-closing closing disclosure.
- Ensures that Loan Rep daily task are completed timely i.e.;
third party services (Title, Flood Certs, HOA, Etc.), updating
fees, document classification, etc.
- Ensures that all disclosures are completed accurately and
delivered to applicants within the regulatory timing
requirements.
- Maintains pipeline report with assignment of loan files.
- Ensures that all HMDA reporting data is completed accurately
and that the credit union is compliant with the reporting of the
data through the government monitoring system. Works closely with
Lending Administration and Corporate Compliance on the monitoring
of the data throughout each calendar year and the subsequent annual
submission.
- Seeks to resolve Significant Findings and recommends actions to
prevent future occurrences.
- Manages areas of oversight using data and analysis to ensure
optimization of workflows and to enhance staff performance.
- Provides feedback to Management regarding prefunding capacity
including making manpower recommendations.
- Provides leadership and promotes teamwork.
- Assist the Sr. Manager Credit to develop department strategic
plans and position standards.
- Works as a department liaison between Processing, Servicing,
Underwriting, Senior RE Operations management and internal
audit.
- Responsible for meeting or exceeding the corporate goal of the
Net Promoter Score Touch Point and Department Surveys
- Effectively manages the department's performance and maintains
at least an Overall Performance Index (OPI) of 100% that is under
the management control
- Provides continuous feedback to management in the form of
reports, charts and statistics as requested. Prepares daily,
weekly, monthly, and year-to-date reports and graphs as requested
by management. SUPERVISORY RESPONSIBILITIES
- Directly supervises assigned employees related to prefunding
and funding of real estate loans as well as the department system
administrators. Carries out supervisory responsibilities in
accordance with the organization's policies and applicable laws.
Responsibilities include interviewing, hiring, and training
employees; planning, assigning, and directing work; appraising
performance; rewarding and disciplining employees; addressing
complaints and resolving problems. Education and/or Experience
- Must have:
- Minimum 5 years of related experience required
- 1 to 3 years of related management or project leadership
experience preferred
- Demonstrated in-depth knowledge of the loan process from
origination through Funding
- Thorough working knowledge of underwriting policies and
guidelines, including FNMA and other investor standards and
practices
- Thorough working knowledge of all related regulations
- Intermediate to advanced knowledge of Excel, Word and Outlook.
Prime Alliance experience helpful.
- Bachelor's Degree preferred Must also demonstrate conduct
consistent with our Corporate Values:
- Practice open Communication with all levels;
- Be Accountable by taking ownership of customer issues and
responsibility for one's actions;
- Foster Teamwork by cooperating and collaborating with other
employees;
- Seek ways to make the workplace Fun for oneself & others;
- Conduct oneself with Integrity by being honest, trustworthy and
ethical in all work activities and interactions;
- Work with a Service Orientation by having a genuine concern for
the needs of one's customers and by being friendly, professional
and following through on commitments; and
- Demonstrate Humility in all interactions and remember to leave
one's ego at the door when one arrives to work.-- Logix Federal
Credit Union is an equal opportunity employer that does not
discriminate in employment opportunities or practices on the basis
of race, religion, color, sex, sexual orientation, gender identity,
national origin, protected veteran or disability status, or any
other status protected by law. ATTENTION: Before you click "Submit
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I understand that any omission, misrepresentation, or misstatement
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Keywords: Logix Federal Credit Union, Burbank , Manager, RE Prefunding Audit, Accounting, Auditing , Burbank, California
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