Job Description
This newly created position with in Longbridge (LBF) is a Quality Control (QC) Specialist – Servicing (QC Specialist). The main responsibilities are but not limited to: reviewing loans that are in the LBF servicing portfolio to ensure compliance with the Federal Housing Administration (FHA) Home Equity Conversion Mortgage (HECM) QC Program as found in HUD’s Handbook 4000.1 Section (V)(a)(3)(e). This is accomplished by working directly with LBF’s subservicer, LBF’s Servicing and various other departments within LBF and its vendors. The QC Program review must cover the entire lifecycle of HECM in servicing.
Primary Job Duties:
- At minimum, the QC Specialist must understand servicing and its lifecycle to include, but not be limited to; document retention, complaints, fees, transfer of servicing, draws/reimbursements, force placed taxes/insurance, early default prevention/loss mitigation, claims, foreclosure, REO, property preservation and general HECM servicing activities.
- The QC Specialist will work with the subservicer to get monthly loan volume details from the prior month to calculate the required sample amount and loans to be included in compliance with the FHA’s QC Program.
- The QC Specialist will work in various systems such as; BOSS, ReverseServ, FHAC, HERMIT and Insight.
- The QC Specialist will use 3rd party vendor software to complete their thorough review of each QC population and work with the Servicing Department as findings arise.
- The QC Specialist will maintain all QC results via TRK/Insight Software as the system of record for the QC Program.
- The QC Specialist will be responsible for responding to any audit requests regarding the Servicing the QC Program and/or its performance/compliance results.
- Staying up to date with all FHA and other state regulatory requirements as it impacts the servicing of HECM loans.