City National Bank · 12 hours ago
Supervisor Prefunding Quality Assurance
Arizona, United States
Full-time
Onsite
Senior Level
$111K/yr - $190K/yr
7+ years expCity National Bank is a subsidiary of Royal Bank of Canada, focusing on providing quality financial services. The Supervisor Prefunding Quality Assurance will ensure compliance with Fannie Mae's guidelines and manage prefunding QA activities to identify and mitigate risks early in the loan process.
BankingFinanceFinancial Services
Responsibilities
Own and continuously enhance the organization’s written Prefunding QA Plan per Fannie Mae Selling Guide D1-2-01 requirements, including defect taxonomy, severity levels, sampling methodology, target defect rates (as low as reasonably achievable), timelines for reviews, and procedures for data and document verification
Oversee monthly loan selection using targeted sampling focused on high-risk loans (e.g., complex income calculations, non-standard underwriting, high LTV/DTI/credit risks, appraisal issues, new processes/personnel, or third-party originations), with a minimum sample size of the lesser of 10% of prior month's production or 750 loans, ensuring inclusion from all channels
Manage prefunding QA reviews conducted post-conditional approval but pre-closing, including full-file and component reviews covering credit, income, assets, employment, collateral, and compliance to detect errors, inaccuracies, or inadequate documentation before funding
Direct reverifications of borrower data (e.g., employment via verbal verification, income, assets, occupancy, sources of funds) and appraisal/collateral assessments using independent sources to identify material misrepresentations, fraud, or risks
Perform or oversee collateral reviews integrating Fannie Mae tools like Collateral Underwriter (CU) and Form 1033 to reconcile flags and evaluate property valuation accuracy
Monitor third-party originations (TPOs) through risk-based sampling, separate channel reporting (e.g., broker vs. correspondent), and assessments to align with internal standards and Fannie Mae guidelines
Establish and track key metrics, including defect rates, trends by category/severity, and potential impacts (e.g., ineligibility risks), with regular risk assessments, quarterly evaluations, and annual plan adjustments based on production changes
Generate tailored QA reports: executive summaries for senior management (trends, risks, corrective recommendations), scorecards for origination teams, and immediate feedback for staff to enable pre-closing corrections
Lead root cause analyses for identified defects and trends, developing corrective action plans with stakeholders, timelines, and validation through follow-up reviews
Manage vendor relationships for outsourced prefunding QA, including reviews of vendor work for accuracy and compliance, while maintaining full accountability
Conduct independent audits of the QA function to ensure unbiased, consistent adherence to policies, with remediation for findings
Integrate fraud detection and risk assessments using Fannie Mae tools such as Desktop Underwriter (DU) for underwriting validation, Quality Insider for defect insights, and Ask Poli for policy research, alongside outside vendor tools like ACES Quality Management or LoanLogics for automated reviews and analytics
Ensure retention of QA records (reports, findings, audits) for at least three years, accessible for Fannie Mae or regulatory examinations
Promote quality culture through training, calibration sessions for consistent defect assessments, and linking QA outcomes to KPIs, compensation, and origination goals
Qualification
Required
Bachelor's degree in Finance, Business Administration, or related field
7-10 years in mortgage lending quality assurance
3-5 years in management, focused on prefunding processes
Deep knowledge of Fannie Mae's Selling Guide (Part D) and Beyond the Guide, including prefunding QA plans, sampling, reverifications, reporting, and corrective actions
Expertise in mortgage origination, underwriting, regulatory compliance, and risk management across retail and TPO channels
Strong analytical skills for defect taxonomy, root cause analysis, trending, and modeling quality risks
Proficiency in QA tools, including Fannie Mae's Loan Quality Connect (LQC), Collateral Underwriter (CU), Desktop Underwriter (DU), Quality Insider, and Ask Poli
Experience with vendor tools such as ACES Quality Management, LoanLogics, MetaSource QC software, or equivalent for automated auditing, reporting, and analytics
Leadership and communication skills to influence teams and present to executives
Ability to manage vendors, audits, and improvements in a dynamic environment
Preferred
Advanced certifications (e.g., Certified Mortgage Banker)
Benefits
Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
Generous 401(k) company matching contribution
Career Development through Tuition Reimbursement and other internal upskilling and training resources
Valued Time Away benefits including vacation, sick and volunteer time
Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
Career Mobility support from a dedicated recruitment team
Colleague Resource Groups to support networking and community engagement
Company
City National Bank
City National Bank offers a full complement of banking, trust and investment services. It is a sub-organization of City National.
1001-5000 employees
H1B Sponsorship
City National Bank has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (76)
2024 (78)
2023 (145)
2022 (93)
2021 (107)
2020 (62)
Funding
Current Stage
Public CompanyTotal Funding
unknown1978-01-13IPO
Leadership Team
Howard Hammond
CEO City National Bank
Fiyaz Khan
Senior Vice President, Structured Products
Recent News
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