How much do mortgage loan auditors make?
How much do mortgage loan auditors make?
How much does a Mortgage Loan Auditor in United States make? The highest salary for a Mortgage Loan Auditor in United States is $110,133 per year. The lowest salary for a Mortgage Loan Auditor in United States is $31,997 per year.
What do mortgage auditors do?
As a loan auditor, your job is to examine the accounting records of a loan to help ensure that it complies with all relevant regulations, including both company guidelines and state or federal lending laws. Most loan auditors work for lending institutions like banks and credit unions.
Do mortgage companies do audits?
A mortgage audit looks at your application, review and funding procedures to make sure all applicable laws are followed, all data are accurate and the credit risk was acceptable. These audits are typically done annually, but some lending companies or regulatory agencies may prefer quarterly reviews.
How much does a loan auditor make?
Average Salary for a Loan Auditor Loan Auditors in America make an average salary of $33,591 per year or $16 per hour. The top 10 percent makes over $40,000 per year, while the bottom 10 percent under $27,000 per year.
What is a forensic mortgage audit?
Simply put, a forensic loan audit, appraisal or review is an analysis of your mortgage loan file to determine your original lender’s compliance with state and federal mortgage lending laws.
How do I become a bank auditor?
To become an auditor, the candidate must have a bachelor’s degree in Accounting. However, some employers prefer candidates with a relevant master’s degree in accounting or an MBA. Candidates can also take up a course in computer accounting software such as Tally or other related diplomas.
How long is mortgage audit?
If there is something amiss in the mortgage, forensic auditors say you can force a loan modification in your favor or rescind the loan altogether. The quickness of this process depends on several factors, such as the ability to secure an auditor and how busy she is. The average time for an audit is up to two weeks.
Can I have my mortgage audited?
Yes they can, and should normally as part of their due diligence before undertaking any servicing of the loan or assignment. The good news is, you can also do your audit for compliance with the federal Truth-In-Lending Act and other…
What is mortgage quality control?
Quality Control of the Highest Quality As a mortgage lender, you’re in the business of risk. You perform a balancing act every day as you make decisions about what risks are worth taking. Your quality control (QC) process should help by positioning you to lend with the least amount of risk to your income.
How much do mortgage loan auditors make? How much does a Mortgage Loan Auditor in United States make? The highest salary for a Mortgage Loan Auditor in United States is $110,133 per year. The lowest salary for a Mortgage Loan Auditor in United States is $31,997 per year. What do mortgage auditors do? As a…