01Overview
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Risk Consulting Financial Services Risk Management (FSRM)
Mortgage Quality Control (QC) Analyst Staff / Senior Consultant
Description
EY's Financial Services Office (FSO) is a unique, industry-focused business unit that provides a broad range of integrated services that leverage deep industry experience with strong functional capability and product knowledge. FSO practice provides integrated consulting services to financial institutions and other capital markets participants, including commercial banks, investment banks, broker-dealers, asset managers (traditional and alternative), insurance and energy trading companies, and the Corporate Treasury functions of leading Fortune 500 Companies. The service offerings provided by the FSO Consulting include: market, credit and operational risk management, regulatory consulting, quantitative consulting, structured finance transaction, actuarial consulting, technology enablement, risk and security, program consulting, and process & controls.
Within EYs Risk Consulting Practice, the Financial Services Risk Management (FSRM) group provides solutions that can help FSO clients to identify, measure, manage and monitor the market (trading book), credit (banking book), operational, and regulatory risks associated with their trading, asset-liability management, capital management and other capital markets activities.
Role Overview
As part of the Mortgage Quality Control (QC) team, the Analyst will perform independent post-underwriting and post-funding reviews of US residential mortgage loans to evaluate the accuracy of underwriting decisions, adherence to internal credit policies, and compliance with investor and regulatory requirements. The role involves detailed examination of approved and funded loan files to identify underwriting deficiencies, documentation gaps, and control weaknesses, while providing actionable insights to enhance mortgage credit quality, operational processes, and overall risk management frameworks.
Core Responsibilities
Perform pre-funding and post-funding Quality Control (QC) reviews of residential mortgage loan files to ensure accuracy, completeness, and policy complianceIndependently validate key underwriting calculations, including FOIR/DTI, LTV/CLTV, income calculations, and borrower eligibility criteriaReview borrower documentation such as income proofs, employment verification, bank statements, tax returns, and credit bureau reports to assess consistency and accuracyValidate collateral-related documents including property appraisals, title reports, insurance, and legal documentation for compliance with lending guidelinesAssess adherence to investor and regulatory requirements (e.g., Fannie Mae, Freddie Mac, FHA, VA guidelines) and internal credit policiesIdentify, document, and classify QC findings (defects) based on severity levels; perform root cause analysis and highlight control gapsReconcile underwriting decisions by re-performing key credit assessments and highlighting discrepancies in credit approval decisionsTrack and report defect trends, recurring issues, and process gaps across reviewed files to support continuous improvement initiativesPrepare QC reporting outputs including detailed review summaries, dashboards, and management reports for stakeholdersCollaborate with underwriting, operations, credit policy, and compliance teams to discuss findings and support remediation actionsParticipate in calibration exercises and quality assurance processes to ensure consistency in QC review standards and defect grading
Domain Skills Required
Strong understanding of US residential mortgage products (conventional, FHA, VA, jumbo, etc.) and underwriting frameworksExperience in mortgage QC/QA including pre-funding and post-closing reviews, defect identification, and compliance validationKnowledge of underwriting guidelines such as Fannie Mae, Freddie Mac, and agency lending standardsFamiliarity with QC methodologies including defect grading, sampling, re-performance of underwriting, and root cause analysisAbility to analyze borrower financials (income, assets, liabilities) and validate underwriting calculationsExperience in preparing structured QC reports, trend analysis, and management-ready findings
Qualifications, Certifications And Education
Must-have:
MBA/CA or equivalent with 38 years of experience in mortgage QC, unerwirting, or retail credit roles.Strong analytical skills with experience in loan file review and underwriting validationAdvanced Excel skills; exposure to reporting tools such as Power BI or SQL is an added advantageStrong communication skills with .
