Post Funding & Post Close Audits Subject Matter Expert US Mortgage

Contact-Rajiv Phanse 9156451786 rajiv.phanse@service 1st BPM.com Job Description Post Funding & Post Close Audits Subject Matter Expert (SME) Position Title: Post Funding & Post Close Audit SME Department: Mortgage Operations / Quality Control / Compliance Position Summary: The Post Funding & Post Close Audit Subject Matter Expert (SME) is responsible for overseeing and executing comprehensive post-closing and post-funding loan audits to ensure loans meet investor, agency, regulatory, and internal compliance requirements. This role ensures accurate loan delivery, document integrity, and mitigation of repurchase risk through strong quality control practices and process improvements. Key Responsibilities Post-Close & Post-Funding Audit Oversight Conduct detailed audits of closed and funded mortgage loan files to ensure compliance with:Agency guidelines (FNMA, FHLMC, FHA, VA, USDA)Investor overlaysState and federal regulations (TRID, ECOA, TILA, RESPA)Review loan documentation for completeness, accuracy, and enforceability. Quality Control & Risk Mitigation Identify, document, and escalate critical defects that may result in:Repurchase demandsIndemnification exposureRegulatory penaltiesAnalyze trends in defects and recommend corrective actions. Loan Delivery & Investor Compliance Validate loan data integrity prior to loan sale or securitization.Ensure proper boarding and investor delivery package accuracy.Support due diligence reviews for correspondent and secondary market delivery. Audit Reporting & Stakeholder Communication Prepare detailed audit findings reports including:Severity grading (minor/major/critical)Root cause analysisCorrective Action Plans (CAP)Collaborate with underwriting, closing, funding, and compliance teams to resolve issues. Process Improvement & SME Support Act as the subject matter expert for post-close QC policies, procedures, and evolving investor guidelines.Assist in updating audit checklists, workflows, and SOPs.Provide training and guidance to audit analysts and operational teams. Regulatory & Guideline Monitoring Stay up to date on:Agency updates (Fannie Mae Selling Guide, Freddie Mac Guide)CFPB and regulatory changesInvestor bulletin updatesEnsure audit practices remain compliant with current requirements. Required Qualifications Experience Minimum 5-10 years of mortgage operations experience with strong focus on:Post-close auditsPost-funding QC reviewsMortgage complianceExpertise in reviewing loan files for salability and investor adherence. Knowledge & Skills Deep understanding of:Loan documentation and closing requirementsMortgage QC defect taxonomyRegulatory complianceSecondary market and investor deliveryStrong analytical, investigative, and reporting skills. Technical Tools Familiarity with LOS systems such as:EncompassEmpowerBlack KnightProficiency in Excel and audit tracking tools. Preferred Qualifications QC Certification or compliance credential (CAMS, CMB, CRCM plus)Experience supporting correspondent lending and loan sale due diligenceLeadership or mentoring experience in QC teams Key Competencies Detail-oriented and risk-focusedStrong communication with cross-functional teamsAbility to manage multiple audits under tight timelinesProcess-driven and compliance-minded Work Environment Full-time role in mortgage operations environmentHybrid/Remote options depending on company structureHigh interaction with Compliance, Underwriting, Closing, and Secondary teams .