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 Application," please double-check all your application information. You will not be able to edit it later! --*
        Please select Please fill out your entire address: STREET ADDRESS, CITY, STATE, ZIP CODE. --*
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        -- Have you ever worked for Logix Employment Services, Inc? --*
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        EMPLOYER 1Company Name: Bond coverage: Have you ever had bond coverage modified, revoked or declined? --*
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        -- If no, describe functions that cannot be performed.
        Acknowledgement & Agreement --*
        I understand that any omission, misrepresentation, or misstatement of a material fact in this application and/or any supplemental attachments may result in refusal of or termination from employment. I agree to conform to the rules, regulations, policies and procedures applicable to, and implemented by Logix Employment Services, Inc. ("LESI"). I have disclosed all information that is relevant and should be considered applicable to my candidacy for employment. If hired, I understand and agree that my employment is "at will" and may be terminated at any time with or without cause or notice, at the option of either LESI or myself.I understand that no representation, whether oral or written, by any representative or agent of LESI, at any time, can constitute an implied or express contract of employment. I further understand no representative or agent of LESI has the authority to enter into an agreement for employment for any specified period of time or to make any change in any policy, procedure, benefit or other terms or conditions of employment other than in a document signed by the President or an authorized designee.--I understand that bonding or licensing may be required and that if I am not bondable or licensable, this is grounds for refusal to hire, or if hired, dismissal. If offered a position, I understand that my employment is conditioned upon my ability to verify eligibility for employment in the United States. I agree to undergo screening tests for illegal drugs on a post-offer, pre-employment basis, and I understand that I must receive a negative result for illegal drug use before being permitted to commence work with LESI.I understand that as LESI deems necessary, employees may be required to perform different work assignments than originally employed to perform, and/or work overtime hours or hours outside the usual work day or work week. Additionally, LESI retains the discretion at all times to change any employee's job duties, responsibilities and compensation.Authorization to Verify InformationI authorize LESI, its agents, representatives or affiliates to verify all information provided by me on this application and/or any supplemental attachments in support of my efforts to obtain employment with LESI. By signing this authorization/consent form, I also authorize LESI to obtain information about my credit standing, previous and/or current employment, education, bonding status, and any other matter of public record, from consumer credit reporting agencies, employers, academic institutions, and others. I understand that this information is regularly required by LESI in connection with making decisions regarding employment.For the purpose of determining my eligibility for employment, I authorize LESI to:
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I waive all claims against LESI for failure to hire me based upon the information gathered in connection with this authorization.Candidate Sign Off I certify that all of the above information is true and complete, and I understand that any falsification or omission of information may disqualify me from further consideration for employment or, if hired, may result in termination regardless of the time elapsed before discovery.By submitting this application, I acknowledge that I have read, understand, and agree to the statements and terms above. Please select U.S. Equal Opportunity Employment Information (Completion is voluntary) Individuals seeking employment at Logix Federal Credit Union are considered without regards to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, gender identity, or sexual orientation. You are being given the opportunity to provide the following information in order to help us comply with federal and state Equal Employment Opportunity/Affirmative Action record keeping, reporting, and other legal requirements. Completion of the form is entirely voluntary. Whatever your decision, it will not be considered in the hiring process or thereafter. Any information that you do provide will be recorded and maintained in a confidential file. Gender Please select Are you Hispanic/Latino? Please select Race & Ethnicity Definitions If you believe you belong to any of the categories of protected veterans listed below, please indicate by making the appropriate selection. As a government contractor subject to Vietnam Era Veterans Readjustment Assistance Act (VEVRAA), we request this information in order to measure the effectiveness of the outreach and positive recruitment efforts we undertake pursuant to VEVRAA. 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Keywords: Logix Federal Credit Union, Burbank , Manager, RE Prefunding Audit, Accounting, Auditing , Burbank, California