Loan Auditor

Position Title:  Loan Auditor (Non- LO – Processor)                                          

Salary: (L8) $21.01-$26.26

Department:  Loan Operations                                                                   Job Status:  Full Time/Hourly                                                                     

Reports to:  Loan Audit Team Lead                                                           Amount of Travel: None

Vanderbilt Mortgage and Finance, Inc. (VMF) was established in 1974 and currently services over 150,000 loans. Our strength as an organization is rooted in the quality of our people and products. We are an equal opportunity employer committed to creating a diverse workforce.  Furthermore, we are financially strong, with a reputation for leading the industry with unsurpassed products, a broad range of services, and a coast-to-coast presence.  We are professionally strong, from entry level to more experienced positions, we are actively recruiting individuals who are passionate, positive, and eager to learn. As a member of our team, we will equip you for success. You will enjoy excellent benefits, opportunities for growth, and an encouraging culture that supports work-life balance.

The Loan Auditor is responsible for processing, auditing, and funding loans financed with VMF.  This position reports to the Loan Audit Team Leader and performs administrative tasks surrounding loan auditing and does not negotiate or advise credit terms with consumers.

Loan Auditing

• Audits a high volume of both home only and land loans for accuracy and completion, identifying and escalating any discrepancies.
• Analyzes a large volume of loan documents, both investor and retail, with a high degree of accuracy.
• Oversees final overview of loan file before funding and ensures files are onboarded accurately into the servicing system.
• Requests corrections or additional information from Home Centers or Title Companies.
• Resolves issues and escalates with a high sense of urgency to ensure loan completion in a timely and accurate manner.
• Documents detailed and descriptive notes of loan file in loan originations system (LOS) to support internal teams. 
• Monitors volume to assess daily time management and manages priorities appropriately.
• Deftly navigates between multiple systems including LINK (in-house system) and AS400 for varying tasks.
• Utilizes company and department resources to maintain knowledge of loan operations policies and procedures and state and federal regulations to ensure compliance in loan packages.
• Responsible for inputting accurate cost of sale data so the home center gross profit is accurately tabulated.

Communication, Follow up, and Correspondence

• Communicates issues with multiple parties including our retail business partners, applicants, title companies, and other departments frequently and ensures that all related parties are included on correspondence.
• Meets and regularly maintains department telephone availability of five and half hours. Responds to voicemails within 24 hours. As well as standards to include but not limited to call quality, accuracy, loan turn time, and Net Promoter Score (NPS).
• Follow ups on outstanding checklist items on a regular basis to ensure loan can be funded.
• Corresponds primarily over the phone and through email in a professional and prompt manner.
• Notifies customers at least bi-monthly regarding loan details such as loan status and date first payment is due.
• Provides process education and expectations to title companies and retail home centers using various methods of communication, such as calls, texts, emails, notes, and our online express portal.

Continued learning, training, and team building

• Attends training sessions, monthly and quarterly meetings for process improvements, training, and team building.
• Completes compliance training regularly through the company portal.
• Provides peer-to-peer coaching; audit works closely with other departments (closing, processing, land exam) and peer-to-peer coaching is expected and encouraged with auditors and sister departments.
• Develops and maintains strong working relationships with all departments within Originations, Titling and Inventory, home centers, and title companies. Fosters a collaborative environment.
• Possesses a strong team-oriented mindset and communicates timely with fellow team members to assist with volume and resolve issues as needed.
• Stays conscious of department and individual goals such as: turn time, Net Promoter Score, audit scores, checklist items completed, phone response time, email response times, closing percentages.

Other duties as assigned
This job description is not an exhaustive list of all the functions that a team member and other duties may be assigned.

QUALIFICATIONS                                                                                                                                                       

• High School diploma or equivalent required, college preferred.
• 0-2 years originations experience preferred.
• Must have strong computer skills with ability to navigate Microsoft Office Suite.
• Ability to communicate effectively and efficiently via phone, email, and person to person
• Capability of gather facts accurately, analyzing causes, evaluating alternate solutions, and arriving at sound conclusions on action to be taken
• Preference for detail, conformity, and task orientation
• Strong commitment to customer satisfaction
• Ability to manage multiple and/or conflicting responsibilities.
• Great attention to detail and organizational skills.
• Ability to work in a team environment.

PHYSICAL DEMANDS:

• Must be able to remain in a stationary position 75% of the time.
• Will be constantly operating a computer and other office productivity machinery, such as a telephone, calculator, copy machine, and computer printer.
• Will be communicating 75% of the time over the phone.
• Must be able to exchange accurate information at all times.
• Must be able to identify and assess account status and determine appropriate process.
• Will constantly work in a state-of-the-art indoor temperature controlled, sealed window office environment.

BENEFITS:

• Medical and Dental Plan with Prescription Coverage and Vision
• Competitive benefits including 401(K) includes 100% company match of the first 4%
• Paid time off days (PTO), maternity/paternity leave, and holidays
• Community involvement including Volunteer Paid Time Off (VTO)
• Tuition Assistance for your first degree
• Enjoy coming “home” to our brand new, state-of-the-art Home Office equipped with onsite fitness facility with full gym, workout classes, volleyball and basketball courts, ping-pong, disc golf course, and onsite restaurant
• Wellness programs that focus on emotional, social, spiritual, intellectual, environmental, physical, and financial well-being
• Collaborative and energetic work environment
• Professional development and promotional opportunities
• Competitive bonus programs

Education: High School diploma or equivalent required, college preferred.

Years of Related Experience:  0-2 years related experience preferred.

Knowledge, Skills and Abilities (KSAs):  

• Must have strong computer skills with ability to navigate Microsoft Office Suite
• Working knowledge of AS/400, Adobe, Zoom, and Teams preferred
• Ability to communicate effectively and efficiently via phone, email, and person to person
• Capability of gather facts accurately, analyzing causes, evaluating alternate solutions, and arriving at sound conclusions on action to be taken
• Preference for detail, conformity, and task orientation
• Strong commitment to customer satisfaction
• Ability to manage multiple and/or conflicting responsibilities
• Great attention to detail and organizational skills
• Ability to work in a team environment
• Capable of dealing with changes that can and will occur periodically

• A Berkshire Hathaway Company – an integrity-based organization offering unlimited career growth
• Full-time team members have the flexibility to create their own health, dental, and vision benefits package. Vanderbilt Mortgage and Finance, Inc. provides competitive 401(k) programs, including investment options and company matching for full and part time employees after one year to help our team members achieve their financial goals. Additional benefits include paid parental leave, tuition reimbursement, Employee Assistance Programs, and more.
• Vanderbilt Mortgage and Finance Inc. is a subsidiary of Clayton of which is proud to have earned spots on the following Forbes lists: America’s Best Employers, America’s Best Employers by State, Best Employers for Diversity, Best Employers for Women.
• As part of Vanderbilt Mortgage’s commitment to Opening Doors to a Better Life, VMF is now providing paid time for Team Members to volunteer to causes that are meaningful to them through the Clayton Impact program.
• At VMF, we encourage holistic wellness with physical, nutritional, social, financial, spiritual, and occupational programs available online or in-person for team members.
• Our newly renovated Home Office campus offers an onsite restaurant, onsite fitness facility with full gym, in-person and virtual workout classes, yoga/barre studio, volleyball, and basketball courts, walking paths, and a disc golf course.

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