Mortgage Quality Assurance Auditor Job Description [Updated for 2025]

In the dynamic world of home financing, the role of a Mortgage Quality Assurance Auditor is becoming increasingly important.

As the real estate market continues its ebb and flow, the demand for meticulous professionals who can evaluate, scrutinize, and enhance our mortgage processes grows stronger.

But let’s delve deeper: What’s truly expected from a Mortgage Quality Assurance Auditor?

Whether you are:

• A job seeker trying to understand the depth of this role,
• A hiring manager drafting the perfect candidate profile,
• Or simply intrigued by the nuances of mortgage quality assurance auditing,

You’re in the right place.

Today, we present a customizable Mortgage Quality Assurance Auditor job description template, designed for seamless posting on job boards or career sites.

Let’s get started.

Mortgage Quality Assurance Auditor Duties and Responsibilities

Mortgage Quality Assurance Auditors are responsible for checking and verifying the correctness and compliance of loan documents and mortgage processes.

They use their analytical skills and knowledge of mortgage industry standards to ensure that all mortgage products meet regulatory requirements and company policies.

Mortgage Quality Assurance Auditors are generally responsible for the following duties:

• Reviewing mortgage loan documents for accuracy and completeness
• Ensuring that mortgage transactions comply with state and federal laws and company policies
• Auditing loan files and application data to identify any discrepancies or instances of fraud
• Preparing audit reports with findings and recommendations for improvement
• Working closely with loan processors and underwriters to correct any identified issues
• Maintaining current knowledge of industry standards, regulatory changes, and company policies related to mortgage loans
• Performing re-verification of employment, income, and other loan-related information
• Collaborating with other team members to streamline and improve the mortgage process

 

Mortgage Quality Assurance Auditor Job Description Template

Job Brief

We are seeking an experienced Mortgage Quality Assurance Auditor to join our team.

The successful candidate will be responsible for conducting quality audits of mortgage files and ensuring that our mortgage operations adhere to company policies, procedures and regulatory requirements.

The ideal candidate will have a thorough understanding of mortgage lending procedures, excellent analytical skills, and a keen eye for detail.

 

Responsibilities

• Perform quality audits on mortgage files to ensure compliance with company policies and regulatory requirements
• Identify and report on areas of non-compliance or potential risk
• Provide feedback and recommendations for improvement to loan processing and underwriting teams
• Work closely with internal teams to review and resolve audit findings
• Stay abreast of current industry regulations and guidelines
• Participate in ongoing training and education to keep knowledge up-to-date
• Contribute to the development of quality assurance standards and procedures

 

Qualifications

• Proven experience as a Mortgage Quality Assurance Auditor or similar role
• Thorough knowledge of mortgage lending procedures, regulations, and laws
• Excellent attention to detail with strong analytical skills
• Proficient in relevant software such as Microsoft Office and loan origination systems
• Ability to multitask and prioritize effectively
• Excellent communication and reporting skills
• High school diploma required; bachelor’s degree in finance, business or related field preferred
• Certification in quality assurance is a plus

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Continuing education opportunities

 

Additional Information

• Job Title: Mortgage Quality Assurance Auditor
• Work Environment: Office setting with occasional remote work. Minimal travel may be required for ongoing education and training.
• Reporting Structure: Reports to the Quality Assurance Manager or Mortgage Operations Manager.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $65,000 minimum to $95,000 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 Quality Assurance Auditor Do?

Mortgage Quality Assurance Auditors are key roles in banking and finance industry, where they work primarily with mortgage loans.

Their main responsibility is to review, audit, and validate mortgage loan files to ensure they comply with the lender’s policies, as well as federal and state laws and regulations.

They meticulously check all documents related to a mortgage loan, including application forms, credit reports, appraisals, and income and employment verifications.

Mortgage Quality Assurance Auditors work closely with mortgage loan processors and underwriters to identify any discrepancies or irregularities in the loan files.

If any issues are found, they are responsible for documenting these findings and reporting them to the appropriate department or personnel.

They also routinely perform data analysis and generate reports to monitor the performance of loans.

These reports help the organization identify any trends or patterns that may indicate risk or require changes in policies or procedures.

Furthermore, Mortgage Quality Assurance Auditors provide recommendations for improving the lending process, often by developing or refining quality control procedures.

They are vital in maintaining the integrity of a lender’s mortgage portfolio, and their work plays a significant role in preventing fraud and ensuring the financial stability of the organization.

 

Mortgage Quality Assurance Auditor Qualifications and Skills

A competent Mortgage Quality Assurance Auditor should have the skills and qualifications that align with your job description, such as:

• Proficiency in understanding and applying mortgage compliance regulations and principles, ensuring that all mortgage loans are compliant with industry and company standards.
• Excellent attention to detail and analytical skills to identify discrepancies or inconsistencies in loan documents and procedures.
• Strong knowledge of loan processing, underwriting and closing procedures to thoroughly audit the mortgage process.
• Exceptional communication skills to discuss audit findings with management and colleagues, and to provide recommendations for process improvement.
• Ability to work independently and to multitask, managing multiple audits at a time while adhering to strict deadlines.
• Problem-solving skills to identify potential risks or issues that could affect the quality of a mortgage loan, and to develop and implement solutions.
• Proficiency in using mortgage loan software and related computer applications to review and audit loan files and data.
• Highly ethical and professional, maintaining confidentiality and demonstrating integrity in all aspects of the role.

 

Mortgage Quality Assurance Auditor Experience Requirements

Entry-level candidates for the role of a Mortgage Quality Assurance Auditor typically require 1 to 2 years of experience in a related field, often gained through internships or part-time roles in mortgage processing, underwriting, or loan origination.

These candidates can also gain valuable experience in roles such as Loan Processor, Underwriter, or Mortgage Loan Officer.

Candidates with 3 to 5 years of experience often have a solid understanding of mortgage processes, loan documents, and regulatory requirements.

Such professionals usually have experience in roles related to Mortgage Quality Assurance, Risk Management, or Compliance.

Those with more than 5 years of experience might have acquired leadership skills and could be prepared for a managerial role in Quality Assurance or Compliance departments.

They are usually expected to have a comprehensive understanding of federal and state mortgage laws, rules and regulations, as well as strong analytical, organizational, and communication skills.

Some organizations may also require Certified Mortgage Auditor (CMA) or Certified Residential Underwriter (CRU) credentials, which provide further assurance of the candidate’s knowledge and experience in the mortgage industry.

 

Mortgage Quality Assurance Auditor Education and Training Requirements

Mortgage Quality Assurance Auditors typically require a bachelor’s degree in finance, economics, business administration, or a related field.

They should have a comprehensive understanding of mortgage lending procedures and federal compliance regulations.

This knowledge can be gained through specialized coursework or on-the-job experience in the mortgage industry.

Certification as a Certified Mortgage Auditor or a similar qualification can be advantageous and is often preferred by employers.

This certification can demonstrate a candidate’s proficiency and commitment to quality assurance in the mortgage industry.

In addition to the degree and certification, several years of experience in mortgage underwriting, processing, auditing, or a related role is usually required.

Some positions may require Mortgage Quality Assurance Auditors to be familiar with specific software or auditing tools, so additional training or certification in these areas may be beneficial.

Continuing education is also important in this role, as regulations and industry standards often change.

Therefore, auditors should be committed to ongoing learning to stay updated with the latest developments in the field.

 

Mortgage Quality Assurance Auditor Salary Expectations

A Mortgage Quality Assurance Auditor makes an average salary of $60,000 (USD) per year.

This amount can vary depending on factors such as professional experience, educational background, and geographical location of the workplace.

 

Mortgage Quality Assurance Auditor Job Description FAQs

What skills does a Mortgage Quality Assurance Auditor need?

Mortgage Quality Assurance Auditors should have strong analytical and problem-solving skills, as they need to identify and resolve issues in mortgage documents.

They should also possess excellent attention to detail and organizational skills to manage and review multiple loan files.

Furthermore, they should have good communication skills to collaborate with mortgage processors and underwriters and provide feedback.

 

Do Mortgage Quality Assurance Auditors need a degree?

While a degree is not always required, a bachelor’s degree in finance, business administration, or a related field may be beneficial.

However, most employers value experience in the mortgage industry more than formal education.

Additionally, knowledge of federal and state mortgage regulations and familiarity with loan origination systems is often a requirement.

 

What should you look for in a Mortgage Quality Assurance Auditor resume?

When reviewing a Mortgage Quality Assurance Auditor’s resume, look for experience in mortgage processing, underwriting, or auditing.

They should also have a solid understanding of mortgage regulations and compliance standards.

Proficiency in loan origination systems and other mortgage-related software is also desirable.

 

What qualities make a good Mortgage Quality Assurance Auditor?

A good Mortgage Quality Assurance Auditor is meticulous and detail-oriented, as they need to review complex loan documents for compliance and accuracy.

They should also have strong integrity and ethical standards since they play a crucial role in ensuring the quality and reliability of the mortgage process.

Good auditors should also possess strong analytical and problem-solving skills to identify and rectify any irregularities or issues in loan files.

 

Is it difficult to hire a Mortgage Quality Assurance Auditor?

Hiring a Mortgage Quality Assurance Auditor can be challenging due to the specialized skills and experience required for this role.

It’s essential to offer competitive compensation and benefits to attract qualified candidates.

Additionally, providing opportunities for professional growth and development may make the position more appealing to potential applicants.

 

Conclusion

And there you have it.

Today, we’ve given you an inside look at what it truly means to be a Mortgage Quality Assurance Auditor.

Surprise, surprise!

It’s not just about analyzing financial data.

It’s about ensuring the safety and integrity of mortgage transactions, one audit at a time.

With our comprehensive Mortgage Quality Assurance Auditor job description template and real-world examples, you’re ready to take the next big step.

But why limit yourself?

Explore further with our job description generator. It’s your ideal tool for creating detailed job listings or refining your resume to absolute perfection.

Keep in mind:

Every single audit is part of a much larger financial landscape.

Let’s secure that landscape. Together.

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