Mortgage Auditor Job Description [Updated for 2025]

In the financial world, the role of a mortgage auditor is pivotal.

As real estate markets evolve, so does the urgency for skilled professionals who can review, validate, and ensure the compliance of mortgage transactions.

But let’s delve deeper: What’s truly expected from a mortgage auditor?

Whether you are:

• A job seeker trying to understand the core of this position,
• A hiring manager seeking to outline the perfect candidate,
• Or simply curious about the intricacies of mortgage auditing,

You’re in the right place.

Today, we present a customizable mortgage auditor job description template, designed for effortless posting on job boards or career sites.

Let’s dive right in.

Mortgage Auditor Duties and Responsibilities

Mortgage Auditors perform a variety of tasks related to evaluating and verifying the accuracy of mortgage loan documents and ensuring compliance with local, state, and federal regulations.

Their duties and responsibilities include:

• Reviewing mortgage loan files for completeness and accuracy
• Verifying and validating supporting income, assets, and liabilities
• Ensuring that mortgage loans adhere to company policies, as well as local, state, and federal regulations
• Identifying potential fraud or misrepresentation by conducting thorough investigations
• Working closely with loan processors and underwriters to resolve discrepancies or issues
• Creating and maintaining detailed audit reports and records
• Collaborating with other departments to improve loan processes and policies
• Staying up-to-date with current mortgage industry trends, policies, and regulations
• Recommending corrective actions or solutions for identified deficiencies

 

Mortgage Auditor Job Description Template

Job Brief

We are seeking a diligent Mortgage Auditor to conduct detailed assessments of our mortgage loan documentation.

Your duties will include examining all related paperwork, verifying the accuracy of the data provided, and ensuring compliance with legal and company standards.

Successful candidates should have a keen eye for detail, extensive knowledge of mortgage loan processes, and a sound understanding of auditing principles.

Ultimately, the role of the Mortgage Auditor is to safeguard our company by ensuring that mortgage loans are processed correctly and in compliance with federal and state regulations.

 

Responsibilities

• Review mortgage loan documents for completeness and accuracy
• Validate loan data against documentation and source systems
• Ensure compliance with internal policies, procedures and regulatory requirements
• Identify, document and report discrepancies in loan files
• Provide recommendations for improving the loan process and mitigating risks
• Prepare audit reports for management
• Collaborate with the mortgage team to correct any deficiencies
• Stay current with mortgage industry trends and regulations

 

Qualifications

• Proven work experience as a Mortgage Auditor or similar role
• Knowledge of mortgage lending processes and regulations
• Strong analytical and auditing skills
• Attention to detail and accuracy
• Ability to handle confidential information
• Excellent written and verbal communication skills
• Proficiency in Microsoft Office and industry-specific software
• Associates degree in Finance, Business, or a related field

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Mortgage Auditor
• Work Environment: Office setting with options for remote work. Some travel may be required for company meetings or on-site audits.
• Reporting Structure: Reports to the Audit Supervisor or Audit Manager.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $55,000 minimum to $85,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Mortgage Auditor Do?

Mortgage Auditors typically work for mortgage lenders, banks, or financial institutions.

They can also work as independent consultants or for audit firms.

They closely scrutinize mortgage loan documents to ensure their accuracy and verify that all required information is present.

This can include borrower’s income, employment history, credit scores, property appraisals, and more.

Their job is to identify discrepancies or irregularities in loan files, report their findings, and recommend corrective actions.

They help to ensure that loans are compliant with federal and state laws, company policies, and industry standards.

They may also review the performance of loan portfolios to identify patterns, trends, or potential risks.

Mortgage Auditors often also verify the authenticity of legal documents, such as the promissory note, mortgage or deed of trust, truth-in-lending disclosure, and others.

These professionals play a critical role in preventing mortgage fraud, protecting the interests of the lending institution, and ensuring the integrity of the mortgage lending process.

 

Mortgage Auditor Qualifications and Skills

A qualified Mortgage Auditor should possess a range of technical and interpersonal skills to perform their role effectively.

These include:

• Knowledge of mortgage lending principles and current market conditions.
• Excellent attention to detail to review complex financial documents and identify any potential errors or inconsistencies.
• Mathematical skills for calculating financial ratios, interest rates, payments, and other related financial assessments.
• Understanding of legal and regulatory guidelines related to mortgage lending, including fair lending laws and Truth-in-Lending Act.
• Strong analytical skills to assess risk and recommend appropriate action to mitigate it.
• Excellent communication skills to report findings, explaining complex information in a clear and concise manner to various stakeholders.
• Problem-solving skills to identify and provide solutions for issues discovered during the audit process.
• Proficiency in using auditing software and other related financial systems.

 

Mortgage Auditor Experience Requirements

Entry-level Mortgage Auditors typically require 1 to 2 years of experience in a related field such as finance, accounting, or real estate.

This experience can often be gained through internships, part-time roles, or as loan officers or processors.

Candidates with 2 to 3 years of mortgage auditing experience may have had exposure to the mortgage underwriting process, knowledge of regulatory compliance, and loan document evaluation skills.

They may have also acquired some experience in handling mortgage fraud investigations.

Mortgage Auditors with more than 5 years of experience often have advanced analytical skills, thorough understanding of loan servicing and default management, and are highly proficient in mortgage auditing software.

They may have also gained managerial experience, overseeing a team of junior auditors, and can step into a team-lead or managerial role.

In addition to this, many employers prefer Mortgage Auditors to hold relevant certifications such as the Certified Mortgage Auditor (CMA) or Certified Internal Auditor (CIA).

These certifications serve as proof of the candidate’s expertise and dedication to the field.

 

Mortgage Auditor Education and Training Requirements

Mortgage Auditors typically have a bachelor’s degree in finance, accounting, business, or a related field.

They must have a strong understanding of mortgage loan processes, real estate regulations, and legal compliance requirements.

An understanding of mathematics and proficiency in data analysis is also important.

Some positions may require Mortgage Auditors to have a master’s degree in finance or business administration, particularly for roles that involve strategic decision-making or management responsibilities.

Mortgage Auditors may also need to be certified public accountants (CPAs) or certified internal auditors (CIAs), depending on the job role and employer requirements.

Continuing education is often encouraged to keep up with changes in financial regulations and auditing practices.

Advanced courses or certifications in mortgage fraud, risk management, or real estate law can also enhance a Mortgage Auditor’s professional development and career prospects.

 

Mortgage Auditor Salary Expectations

A Mortgage Auditor earns an average salary of $60,456 (USD) per year.

The actual earnings can fluctuate depending on the individual’s level of experience, specific location, and the size and type of their employer.

 

Mortgage Auditor Job Description FAQs

What skills does a Mortgage Auditor need?

Mortgage Auditors need excellent analytical and attention to detail to evaluate the accuracy of mortgage documentation and processes.

They should possess a strong understanding of mortgage laws, regulations, and guidelines.

Excellent written and verbal communication skills are also needed to report findings and liaise with various parties involved in the mortgage process.

 

Do Mortgage Auditors need a degree?

Most Mortgage Auditors have a bachelor’s degree in finance, business, or a related field.

Some roles may require a master’s degree or professional certifications such as Certified Mortgage Banker (CMB) or Certified Internal Auditor (CIA).

Practical experience in the mortgage industry is also highly valued.

 

What should you look for in a Mortgage Auditor resume?

In a Mortgage Auditor’s resume, look for a degree in finance or business, along with professional certifications.

Experience in mortgage operations, underwriting, or loan processing is also important.

Familiarity with mortgage software and a track record of identifying and resolving compliance issues are key qualifications to consider.

 

What qualities make a good Mortgage Auditor?

A good Mortgage Auditor is highly organized and possesses keen attention to detail, which is crucial for identifying discrepancies in large volumes of data.

They have a strong sense of integrity and are committed to maintaining ethical standards.

Good Mortgage Auditors also possess problem-solving skills and are comfortable working both independently and as part of a team.

 

How challenging is it to become a Mortgage Auditor?

Becoming a Mortgage Auditor can be challenging as it requires a strong foundation in finance and a thorough understanding of mortgage laws and regulations.

It typically requires a degree in finance or business and several years of experience in the mortgage industry.

The role also demands a detail-oriented mindset and excellent problem-solving skills.

However, for those with the right qualifications and dedication, it can be a rewarding career path.

 

Conclusion

And there we have it.

Today, we’ve delved deep into the intricacies of what it means to be a Mortgage Auditor.

Surprise, surprise.

It’s not just about crunching numbers.

It’s about constructing the framework of finance, one financial statement at a time.

Armed with our trusty mortgage auditor job description template and actual job scenarios, you’re more than ready to take the plunge.

But why halt your progress there?

Delve deeper with our job description generator. It’s your essential tool for crafting precise job listings or refining your resume to a tee.

Keep in mind:

Every financial statement is a piece of a much larger puzzle.

Let’s construct that financial future. Together.

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