Quality Control Analyst

Nicole Kormanik

Eden Prairie, MN • 612-***-****

***********@*****.*** • https://lnkd.in/gYCuq2RS

Business Risk Analyst

Analytical, goal-oriented, and driven business risk analyst with 22+ years of strong experience

Expertise in researching and analyzing loan cycles from underwriting to approval. Accurately recognize risks, take necessary action, and escalate concerns as necessary. Hands-on experience in reviewing loans for escalation. Ensure quality control is in line with the organization’s policies and procedures. Oversee mortgage underwriting, regulatory compliance, and management of loan scenarios.

Areas of Expertise

•Underwriting

•USBHM Guidelines

•Risk Compliance

•Loan Auditing

•Problem Resolution

•Quality Analysis

•Regulatory Compliance

•Fraud Examination

•Consumer Lending

Career Experience

Business Risk Analyst, Celebrity Home Loans, Home Based, Eden Prairie, MN 2021 – Present

Guide mortgage loan processing and underwriting employees to maintain compliance with standards and legal requirements. Analyze and report non-compliant loans to senior management and escalate loan scenarios when needed. Monitor executive exceptions and verify submission for CHL overlay, agency, regulatory, and government compliance. Establish a risk management framework with Risk and Compliance Executive Management. Assure all sampled loan underwrites satisfy Agency, Government, and Celebrity Home Loan criteria. Conduct full file underwriting audit on a representative sample of loans closed by Regional Operations Centre (ROCs) and loans provisionally authorized by internal Celebrity Home Loan’s internal mortgage underwriters across the country. Review all submitted concerns and loan file documentation related to the issue presented to Quality Control Senior Management.

Spearheaded the Problem Loan Committee to communicate between Risk and Compliance Executive management.

Assisted business lines to resolve non-compliant issues and process loans for Celebrity Home Loans.

Ensured that all sampled loans comply with regulatory bodies' compliance requirements, including traditional Fannie Mae and Freddie Mac products and government-regulated programs like HUD's Federal Housing Administration (FHA) and VA loan programs.

Business Risk Analyst, US Bank Home Mortgage, Hopkins, MN 2017 – 2021

Developed, administered and oversaw risk management plan with Lines of Business (LOB), Risk Compliance / Audit (RCA) professionals and RCA Managers Regulated Third-Party Originated Mortgage Loan Business Lines and TPLO Support Shared Mailbox. Reported the percentage of courses completed by the quarter's end to executive management. Compiled reports and emailed Retail Sales and Service Group about past-due or impending Learning Center courses. Reduced losses through identifying and eliminating gaps in internal processes, systems, and human error. Ensure compliance with federal, state, and local laws and regulations by participating in essential initiatives.

●Established and maintained a Third-Party Lending Operations training document for new and existing staff to use for escalated compliance checks of Correspondent and Housing Finance Agency loan business lines.

Mortgage Loan Specialist II, Contract Bloomington MN.

Assisted lenders, staff, and title companies with documents and issues.

Quality Control Analyst, Correspondent Relationship Subject Matter Expert (FNMA & FHA) 2014 – 2015 TCF Bank Consumer Lending, Minneapolis, MN

Evaluated loan applications for Fannie Mae and FHA compliance. Ensured compliance, examined manually underwritten loans and online transactions. Communicated and resolved submitted condition issues with personnel.

Assistant Vice President, Mortgage Underwriter, Bank of America, Bloomington, MN January 2015 – December 2015

Reviewed loan applications with supplementary documentation. Authorized or refused loan documents basis initial loan approval. Supervised preliminary FHA Streamline Refinance underwriting with large corporate and retail branches. Acquired conditions from processing for approval, clearance of loans, final evaluation, and financing conditions.

Acquired the CHUMS ID and the authority to delegate FHA endorsement.

Achieved Level 3 signature privileges for both BoA's conventional conforming and non-conforming products.

Quality Control Underwriter, Repurchase Resolution Analyst March 2006 – May 2012 Wells Fargo Home Mortgage

Guaranteed that every mortgage conformed to insurer standards, investor norms, and statutory mandates. Assessed loan applications and determined whether or not to issue financing. Validating loan applications and related documents.

Additional Experience

Quality Control Analyst – Level 3, Wells Fargo Home Mortgage, Minneapolis, MN 2006 – 2012

Mortgage Loan Underwriter – Subprime Lending, Lendsource Inc., Minnetonka, MN 2002 – 2006

Education

Master of Business Administration,

University of St. Thomas, Minneapolis, MN

Bachelor of Science in Accounting,

St. Cloud State University, St Cloud, MN

Licenses & Certifications

Certified Fraud Examiner (CFE)

Six Sigma Black Belt

Six Sigma Green Belt

Six Sigma Yellow Belt

Delegated Endorsement Underwriter – Department of HUD - FHA

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