Mortgage Quality Control Auditor Job Description [Updated for 2025]

In the ever-changing landscape of the real estate industry, the role of Mortgage Quality Control Auditors has never been more critical.

As the financial industry evolves, the demand for meticulous professionals who can review, assess, and ensure the quality of mortgage operations grows stronger.

But let’s demystify this: What’s really expected from a Mortgage Quality Control Auditor?

Whether you are:

• A job seeker trying to understand the core of this role,
• A hiring manager looking to shape the perfect candidate,
• Or merely fascinated by the intricate world of mortgage quality auditing,

You’ve come to the right place.

Today, we present a customizable Mortgage Quality Control Auditor job description template, crafted for effortless posting on job boards or career sites.

Let’s delve right into it.

Mortgage Quality Control Auditor Duties and Responsibilities

Mortgage Quality Control Auditors are responsible for reviewing and verifying the accuracy and compliance of loan documentation, ensuring that they align with both company policies and federal regulations.

Their main duties and responsibilities include:

• Conducting regular audits of mortgage loan files to ensure the integrity and quality of the loan
• Identifying and reporting any errors or inconsistencies in the loan documentation
• Reviewing loan approval and underwriting decisions for compliance with company policies and regulatory requirements
• Researching and resolving complex loan issues
• Generating detailed audit reports and sharing findings with management
• Recommending process improvements to increase the accuracy and efficiency of the loan process
• Providing feedback and training to loan processing staff to reduce errors and improve loan quality
• Staying up-to-date with changes in regulations and industry standards affecting loan processing and underwriting
• Collaborating with other departments to ensure the accuracy and quality of all loan documentation

 

Mortgage Quality Control Auditor Job Description Template

Job Brief

We are seeking a highly meticulous and analytical Mortgage Quality Control Auditor to oversee our loan processes.

Your responsibilities will include reviewing loans, identifying and reporting discrepancies, and ensuring compliance with industry standards and regulations.

Our ideal candidate has a thorough understanding of the mortgage lending process, particularly quality control and auditing.

They should be detail-oriented, have strong analytical skills, and be capable of working independently.

 

Responsibilities

• Conduct audits of mortgage loans to assess adherence to internal policies and regulatory compliance
• Identify, document, and report any issues or inconsistencies
• Review and analyze loan documents, loan processing, underwriting, and closing procedures
• Prepare detailed reports on audit findings and suggest changes to improve quality control and compliance
• Collaborate with other departments to implement improvements
• Stay updated on relevant industry regulations and trends
• Assist in the training of staff on new or updated procedures and policies

 

Qualifications

• Proven experience as a Mortgage Quality Control Auditor or similar role
• Knowledge of mortgage lending processes, policies, and regulations
• Strong analytical skills and attention to detail
• Excellent written and verbal communication skills
• Ability to work independently and handle multiple tasks simultaneously
• Proficiency in mortgage-related software applications
• Bachelor’s degree in finance, business administration, or related field

 

Benefits

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

 

Additional Information

• Job Title: Mortgage Quality Control Auditor
• Work Environment: Office setting with potential for some remote work
• Reporting Structure: Reports to the Quality Control Manager or Compliance Officer
• Salary: Based on candidate experience and qualifications, as well as market and business considerations
• Pay Range: $65,000 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 Quality Control Auditor Do?

Mortgage Quality Control Auditors typically work for banks, mortgage companies, or other financial institutions.

They can also work as independent consultants for third-party quality control firms.

Their primary role is to review and assess the quality of completed mortgage loan applications.

They do this by ensuring that the loan complies with various lending regulations and the policies set by their company or the lending institution.

The Mortgage Quality Control Auditor performs a detailed analysis of the borrower’s income, credit history, and property valuation to determine if the loan decision was accurate and justified.

They also review all documentation and data entries in the loan file for accuracy and completeness.

Their job is to identify, report, and help rectify any errors or discrepancies they find in the loan files.

These discrepancies can include but are not limited to, fraudulent activities, miscalculations, misrepresentation, and non-compliance with lending laws or company policies.

They also suggest improvements to the existing quality control processes, provide training to the mortgage processing team, and stay up-to-date on the latest industry regulations and trends.

In some cases, they may also work with regulatory bodies during audits and provide required documentation and explanation for the loans being reviewed.

Overall, a Mortgage Quality Control Auditor’s primary responsibility is to ensure the integrity of the loan process, mitigate potential risks, and maintain the financial health and reputation of the institution they work for.

 

Mortgage Quality Control Auditor Qualifications and Skills

A Mortgage Quality Control Auditor should possess a combination of technical knowledge, industry expertise and soft skills to ensure that the mortgage processes and products adhere to established company and industry quality standards, including:

• Comprehensive knowledge of federal and state laws related to mortgages and loans to ensure compliance with regulations
• Proficient in auditing principles and practices to detect and prevent fraud in mortgage transactions
• Analytical skills to review and interpret financial data, recognize deviations and inconsistencies in mortgage documents
• Attention to detail to thoroughly review each loan file for accuracy and completeness
• Communication skills to clearly report audit findings, make recommendations for improvement, and work with various departments to enhance the quality of mortgage processes
• Proficiency in using mortgage loan software and auditing tools for efficient and accurate auditing
• Problem-solving skills to identify discrepancies and irregularities in mortgage documents and propose corrective actions
• Organizational skills to manage multiple audits simultaneously while meeting deadlines and maintaining a high degree of accuracy

 

Mortgage Quality Control Auditor Experience Requirements

Entry-level Mortgage Quality Control Auditors generally have 1 to 2 years of experience in the mortgage industry, preferably in loan processing, underwriting, or post-closing.

This experience can often be gained through internships, part-time roles, or even full-time positions in related fields.

Candidates with 2 to 3 years of experience often have a deeper understanding of mortgage loan processes, regulatory compliance, and risk management.

They usually have the required knowledge to identify and investigate discrepancies, errors or misrepresentations in loan files.

Professionals with more than 5 years of experience in mortgage quality control auditing will likely have developed strong analytical, decision-making, and communication skills.

They may have experience in training other auditors, overseeing audit processes, and interacting with clients and regulators.

With this level of experience, they may be ready for a managerial role or a position that involves leading a team of auditors.

In addition to the above, certification from mortgage industry organizations, like the Mortgage Bankers Association (MBA), can provide additional validation of a candidate’s expertise and experience.

 

Mortgage Quality Control Auditor Education and Training Requirements

Mortgage Quality Control Auditors usually require a bachelor’s degree in business, finance, accounting or a related field.

They must also have a deep understanding of mortgage lending procedures and regulations.

This knowledge is often obtained through previous experience in mortgage processing, underwriting, or quality assurance roles.

Some employers may require Mortgage Quality Control Auditors to be familiar with specific software tools like loan origination systems or automated underwriting systems.

Certification programs, such as becoming a Certified Mortgage Auditor, are available and can be beneficial to demonstrate professional competence.

While not always required, these certifications may help potential auditors stand out from other candidates.

Continuous education is also important in this role, as mortgage laws and lending practices may change over time.

Therefore, a commitment to ongoing learning is crucial for a Mortgage Quality Control Auditor.

 

Mortgage Quality Control Auditor Salary Expectations

A Mortgage Quality Control Auditor typically earns an average salary of $65,000 (USD) per year.

The actual salary can vary based on factors such as experience, qualifications, location, and the size of the employing company.

 

Mortgage Quality Control Auditor Job Description FAQs

What skills does a Mortgage Quality Control Auditor need?

A Mortgage Quality Control Auditor should possess strong analytical skills to assess loan documents and identify errors or fraud.

They need a keen attention to detail to ensure all paperwork is in compliance with current laws and regulations.

Excellent communication skills are also necessary to convey audit findings clearly and concisely.

This role requires a good understanding of mortgage loan processes, underwriting, and closing procedures.

 

Do Mortgage Quality Control Auditors need a degree?

While it’s not always a requirement, many employers prefer Mortgage Quality Control Auditors to have a bachelor’s degree in finance, accounting, or a related field.

Even more important is relevant work experience in mortgage lending, underwriting, or auditing.

Certifications such as Certified Mortgage Auditor or Certified Internal Auditor can also be beneficial.

 

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

When reviewing a Mortgage Quality Control Auditor resume, it’s essential to look for previous experience in mortgage lending, underwriting, or auditing.

The candidate should be familiar with all phases of the mortgage loan process and have knowledge of related laws and regulations.

Proficiency with auditing software and Microsoft Office is usually a must.

Any certifications related to mortgage auditing would also be a plus.

 

What qualities make a good Mortgage Quality Control Auditor?

A good Mortgage Quality Control Auditor is meticulous and pays great attention to detail, as they must spot any inaccuracies or inconsistencies in loan documents.

They also need to be objective, maintaining a fair and unbiased perspective during the audit process.

Strong ethical standards are important, as is the ability to handle sensitive information with confidentiality.

Finally, an effective Auditor can communicate complex information clearly, both in writing and verbally.

 

Is it challenging to hire Mortgage Quality Control Auditors?

Hiring Mortgage Quality Control Auditors can be a challenge, particularly because the role demands a specific set of skills and experiences.

It requires knowledge of the mortgage industry and regulatory standards, as well as proficiency in audit procedures.

As such, finding candidates with the right balance of technical knowledge, analytical ability, and attention to detail can be difficult.

Offering competitive salaries and benefits may help attract qualified candidates.

 

Conclusion

And so, we’ve given you an inside look at the true nature of being a Mortgage Quality Control Auditor.

Surprise, surprise?

It’s not just about numbers and reports.

It’s about shaping the future of home ownership, one mortgage audit at a time.

Our comprehensive Mortgage Quality Control Auditor job description template and real-world examples have you fully prepared to take your next career step.

But why not go further?

Get more insights with our job description generator. It’s your ultimate tool for creating laser-focused job listings or honing your resume to sheer excellence.

Remember:

Every mortgage audit is a step towards the bigger goal.

Let’s shape that future. Together.

How to Become a Mortgage Quality Control Auditor (Complete Guide)

Maximize Your Earnings from Home: Remote Jobs with Great Pay!

Work with Wonders: Enjoyable Jobs That Are Always Exciting

Behind the Stress Curtain: The Jobs That Push You to Your Limits!

Exciting Careers Ahead: Enjoyable Jobs with High Paychecks