The Mortgage Compliance Specialist reports to the Compliance Manager and is a strategic contributor to the compliance team. This position is a driver of the Mortgage Compliance Program as well as HMDA and the Fair Lending (FL) Monitoring Program and will assist in ensuring the company complies with various risk assessments for mortgage lending related state and federal regulatory requirements as well as regulatory designated policies, procedures, and practices. The candidate will also be familiar with various mortgage servicing area processes as well.
ESSENTIAL FUNCTIONS (RESPONSIBILITIES):
- Contributes to mortgage compliance initiatives and maintains good working knowledge of the requirements of Fair Lending and other mortgage origination regulations including but not limited to knowledge of Home Mortgage Disclosure Act (HMDA), Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA), Privacy of Consumer Financial Information, Fair Credit Reporting Act (FCRA), Real Estate Settlement Procedures Act (RESPA), Truth in Lending (TIL), RESPA/TILA (TRID), Flood Disaster Protection Act (FLOOD), etc.
- Contributes to HMDA processes to ensure timely preparation, maintenance and annual submission of the Loan Application Register (LAR) via HMDA Analyzer platform.
- Reviews loan application data and credit files on a monthly basis for accuracy in reporting consistent with the requirements of HMDA.
- Leads Fair Lending monitoring initiatives through generating and analyzing reports to identify fair lending performance, gaps in loan origination and broker relationships throughout the company’s assessment area and in comparison to our peers. Maintains documentation of compliance with fair lending.
- Works closely with Compliance Manager in identifying problems and/or solutions as it relates to ensuring compliance with mortgage lending regulations, including but not limited to Fair Lending, ECOA, HMDA, FHA, FCRA, FLOOD, TRID, RESPA, TIL, etc.
- Reviews and verifies as needed closed loan mortgage loan files for proper disclosures and regulatory timelines (TRID, TIL, HMDA, FLOOD, etc.) to ensure proper execution and compliance with company policy, Federal Regulations and State requirements.
- Maintains logs and/or reporting on these activities and make monthly reports to Compliance Manager.
- Performs related activities as required or assigned.
- In depth working knowledge of federal and state compliance regulations
- Knowledge of Microsoft Office (Excel, Word, and Power Point).
- Extensive knowledge of mortgage origination
- Critical thinker experienced in decision making
- Must demonstrate excellent written and oral communication skills with the ability to plan, organize and follow-through with minimal supervision.
- Understanding of mortgage servicing regulations
- Ability to think through processes analytically to uncover gaps, and areas of opportunity
- Bachelor’s degree in Business Administration or equivalent
- At least 5 years of compliance experience.
- At least 5 years mortgage experience.
- Extended working hours may be required as dictated by management and business needs.
- Travel to multiple facilities may be required.
- May be required to sit and review information on a computer screen for long periods of time
- May require repetitive motions of the hands and wrist related to writing and typing at an electronic keyboard
- Corporate / satellite office role