Mortgage Compliance Specialist

Description

Mortgage Compliance Specialist

Exempt 

Equal Employment Opportunity 

Corporate Values & Mission

“Provide superior service, quality advice and show our utmost respect to everyone we meet.”

General Summary

Responsible for identifying processes and procedures in the Residential Mortgage department that require audit and/or changes to maintain compliance with regulatory laws and industry regulations. Review Residential Mortgage loan packages at various stages of the loan process, assuring applications are following regulatory and investor requirements. Perform regular audits, suggest/implement company policies and design control systems. Work independently and be responsible for advancement of overall mortgage departments compliance program. Maintain low level of violations and audit findings. 

Reports To:  SVP Loan Operations (direct) and VP Compliance & Risk Management (indirect)

Essential Duties and Responsibilities 

· Identify processes and procedures in the Residential Mortgage department that require audit and/or changes to maintain compliance with regulatory laws and industry regulations

· Reviews Residential Mortgage loan packages at various stages of the loan process assuring applications are following regulatory and investor requirements

· Report to various committees. Engage and be active participant with Compliance Committee and Fair Lending Committee

· Develop Plans to identify risk and systems to report and prevent.

· Assist with information gathering for internal audits and quarterly QC projects, in addition to exams

· Suggest/ Implement company policies

· Design control systems

· Assist in the gathering of information and response to Regulatory Agencies on Consumer Compliance Examinations as well as internal and external audits.

· Maintain an open line of communication with the Processor throughout the processing period, assisting them with any questions and notifying them of any additional information needed. Promote the company’s philosophy of providing excellent customer service through various contacts throughout processing with Realtors, builders, applicants, and others.

· Assist internal bank personnel in a “back-up” roll of HMDA data collection procedures and reporting.

· Assist in maintaining and updating procedure manual.

· Comply with State and Federal Regulations, as applicable.

· Utilize manuals and handbooks available to increase knowledge of business and to be effective in position. Stay aware of current changes and their effect on responsibilities.

· Additional responsibilities as assigned.

· Be familiar with and comply with the provisions of the Bank Secrecy Act and USA PATRIOT Act as they relate to the functions of this position. Complete all required reports related to those acts and reports any observed violations or potential violations of those acts to a supervisor or other appropriate bank officer.

· Be familiar with and comply with all federal and state banking regulations as applicable.

Competencies 

• Written and Oral Communication – Effective written and oral communication skills required, with the ability to interface with Internal and external stakeholders and community partners. Has group presentation skills.
• Quality – Demonstrates accuracy and thoroughness; monitors own work and the work of others to ensure quality.
• Judgment – Displays willingness to make decisions; exhibits sound and accurate judgment; supports and explains reasoning for decisions; includes appropriate people in decision-making process. Makes timely decisions.
• Project Management – Develops project plans; coordinates projects; communicates changes and progress; completes projects on time ad budget; manages project team activities.
• Initiative – Undertakes self-development activities; takes independent actions and calculated risks; looks for and takes advantage of opportunities; asks for and offers help when needed.

Requirements

Qualifications

To perform this job successfully, an Individual in this position must be able to perform each of the above essential duties satisfactorily and exhibit the values of the Company. In addition, the requirements listed below are representative of the knowledge, skill and/or ability required.

Experience and/or Education

• Strong organizational skills with attention to detail
• 3-5 years of mortgage processing or compliance experience
• Understanding of mortgage lending regulatory requirements
• Ability to work independently
• Highly analytical

Specific knowledge as related to mortgage documents and regulations including but not limited to, RESPA, Truth in Lending Act, Equal Credit Opportunity Act, Flood Hazard Determinations, Home Mortgage Disclosure Act, and Freddie Mac underwriting expectations 

 Physical Demands and Work Environment

• Must be able to lift 25 lbs
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• Ability to work in an office environment which may include many hours of computer and telephone usage.