Mortgage Compliance Specialist

The Compliance Specialist will ensure that all mortgage lending activities comply with federal, state, and local regulations. This role involves developing, implementing, and managing compliance policies and procedures, conducting audits, and providing training to staff. The ideal candidate will have extensive experience in mortgage compliance and a thorough understanding of relevant regulations.

In addition, this position will be responsible for ensuring that all underwriting activities comply with regulatory requirements, company policies, and industry standards. This role involves evaluating and analyzing insurance applications, conducting risk assessments, and collaborating with various departments to maintain compliance and mitigate risks. The ideal candidate will have a strong background in underwriting and a keen understanding of compliance regulations within the financial services industry.



Responsibilities include, but are not limited to the following:
 

1. Develop, implement, and manage the company’s mortgage compliance program.
2. Monitor changes in mortgage-related regulations and ensure the company's policies and procedures are updated accordingly.
3. Conduct regular audits and assessments of mortgage operations to ensure compliance with regulatory requirements.
4. Assist with staff training as needed and manage the training platform, including selecting and assigning relevant courses required by policy and regulations.
5. Review company policies and procedures for completeness and compliance.
6. Review all real estate advertisements for compliance and review marketing materials including website bios.
7. Investigate compliance issues and coordinate responses to regulatory inquiries and audits.
8. Prepare and present compliance reports to senior management and the board of directors.
9. Ensure the company maintains necessary documentation and records to demonstrate compliance with mortgage regulations.
10. Complete pre-closing and post-closing reviews.
11. Manage HMDA data and complete annual HMDA-LAR filing.
12. Complete NMLS reporting.
13. Maintain state licensing.
14. Review insurance for the company and ensure it meets state guidelines.
15. Cross-train in other positions, such as Closing and Post-Closing, and provide coverage in these areas as needed.

• • Minimum of 5-7 years of experience in mortgage compliance and mortgage underwriting or comparable experience or education.
  • Strong knowledge of federal, state, and local mortgage lending regulations (e.g., RESPA, TILA, HMDA, ECOA).
  • In-depth knowledge of FNMA/FHLMC and investor underwriting guidelines.
  • Excellent analytical, problem-solving, and decision-making skills.
  • Exceptional communication and interpersonal abilities.
  • Strong organizational and communication skills are required. 
  • Experience using Encompass is preferred.
  • Perform other duties as required.

• Excellent communication skills and proven effectiveness in working with loan originators and loan applicants.
• Ability to resolve questions and problems with the supervisor, work effectively with a wide range of personalities and manage work flow to meet deadlines.
• Ability to input data accurately and efficiently into computer software systems.
• Ability to work under the stress of maintaining the proper liaison between CU staff, MHL employees, Managers, attorneys and vendors to facilitate loan transactions in compliance with all policies, procedures and legal and ethical guidelines.
• Ability to exchange information and to report facts, details, and technical information clearly, concisely, and in a timely manner.
• Ability to comprehend the consequences of various problem situations and to refer them to the appropriate people for resolution.
• Ability to add, subtract, multiply and divide accurately all units of measure, to perform these four operations with like or common decimal fractions, to compute rates and percentages and to perform arithmetic operations involving all American monetary units with a calculator.
• Ability to work in a professional manner.
• Ability to work quickly and accurately.
• Ability to understand and follow written and oral instructions.
• Ability to communicate effectively verbally, and in writing.
• Working knowledge and experience with computers utilizing Microsoft Excel and Microsoft Word.
• Ability to work with limited supervision.

Ability to set goals, manage time, adjust to change and maintain priorities.