Remote – Mortgage Quality Assurance (QA) & Quality Control (QC) Reviewer

About Opendoor:

Are you intrigued by the thought of disrupting a trillion dollar industry through technology? At Opendoor, we’re on a mission to make it simple to buy and sell homes. The traditional process is broken, with an average home taking over 90 days to sell and costing thousands of dollars. We empower everyone with the freedom to move by making buying and selling a home stress-free and instant. We’ve built an exceptional team, seen strong growth, served over 85,000 customers and recently went public! The coming years present a tremendous opportunity for innovation as we explore new frontiers and scale nationwide.

About the Team:

The Mortgage Loan Operations Team strives to simplify loan procedures and processes, provide superior services to the customer and create long-term value by streamlining the origination process and originating loans in a cost-effective manner.

These objectives are accomplished through appropriate solutions deployed to mitigate, control, monitor, test, and report identified risks. The QA/QC underwriter will be part of the larger team which will act as an independent review and evaluation of the loan compliance and credit quality as well as the customer experience.

About the Role:

The QA/QC Underwriter is responsible for appropriately identifying, assessing, and measuring the risk related to Opendoor Home Loans. These risks include, but are not limited to, evaluating the mortgage loan application and documents provided to the customer in a timely manner; ensure that safe and sound underwriting decisions are made by the team and, adherence to federal and state compliance requirements.

As a Mortgage QA/QC Reviewer, you will:

Be proficient in all investor and company guidelines and familiar with other Opendoor Home Loans department responsibilities
Ensure adherence to policies, guidelines and procedures as well as compliance regulations (HMDA, TILA, RESPA, HOEPA, FCRA and ECOA) and credit guidelines
Communicate, demonstrate and inspire others to incorporate Opendoor’s vision and core values in daily activities
Promote a strong risk culture by using constructive dissent to appropriately challenge using data and analysis
Review procedures to ensure key processes are identified and conform to enterprise policies, standards, and procedures
Identify, log, track, analyze, develop action plans for, and remediate issues in an effective and timely manner, and perform root cause analyses to proactively identify and remediate issues
Perform timely Pre and or Post-Funding Quality loan reviews for mortgage originations to assess the accuracy and integrity of the information used to support the lending decision and adherence to federal and state compliance requirements, policy and procedures, GSE requirements, all related contractual terms and agreements
Participate in reviewing and maintaining all Pre/Post Fund Quality scripts, procedures, and methodologies
Work with business to ensure proper identification of cures
Ensure consistent feedback to production management as it relates to quality and escalation to Senior Management when no corrective actions occur
Communicate and facilitate within the quality review team process, procedure and regulatory changes as necessary
Provide sufficient and timely reporting to management as required
Participate in the identification and monitoring of trends to provide consistent and actionable feedback to Senior Management on gaps in need of improvement
Be able to collaborate with business units to ensure root-cause analysis is incorporated into the correction action process
Maintain a high degree of accuracy, departmental productivity and quality team goals
Provide measurable standards of achievement for proper management control and staff development
Consistently contribute to the ongoing Mortgage Loan Operations efforts to deliver process efficiencies to reduce costs and improve quality and productivity
Manage and/or participate in various operation projects
We are looking for teammates who have/are:

Senior QA/QC Reviewer: Five (5) years of pre-fund/post-fund quality review, processing, and/or underwriting pricing
Mid Level QA/QC Reviewer: Three (3) years of pre-fund/post-fund quality review, processing, and/or underwriting pricing
Self-starters with the ability to plan and prioritize workload for self
Strong analytical skills and decision-making ability to make lending decisions and translate guidelines
Strong understanding of mortgage lending including operations and mortgage compliance-must understand TRID
Ability to work independently and as a team; ability to garner support and collaborate with others
Strong written and verbal communication skills
Strong organizational skills to manage self and multiple priorities; and meet deadlines in a fast-paced work environment
Strong lean towards technology and leveraging technology in creative ways
Ability to work collaboratively and supportively with management to achieve business objectives
Thorough understanding of Conventional(Fannie Mae, Freddie Mac) and Government(FHA VA)
Bachelor’s degree or equivalent experience from which comparable knowledge and abilities can be acquired
High school or G.E.D. equivalent required