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Mortgage Compliance Specialist
Loan Quality Assurance Auditor
What you will be doing:
Analyze and review on-going risk management for mortgage, consumer, equity lending and credit card portfolios originated, processed, and closed within the Lending Department. Reviews are conducted to ensure accuracy and completeness with agency, investor and credit union guidelines, as well as regulatory and procedural compliance for safety and soundness. Maintain a thorough understanding of the credit union’s risk philosophy, credit culture and market conditions.
TASKS, DUTIES, FUNCTIONS:
1. Conduct thorough analysis and review of Real Estate and Equity loan origination files including but not limited to loan rates/ locks, documentation, data integrity, and income verification to ensure adherence to applicable federal and state regulations, investor guidelines, and credit union policies and procedures. Also, may conduct pre-funding, post close, 3rd party verification and document reviews including declines and withdrawals
2. Responsible for reviewing a random sample of loans to ensure the sale-ability of each residential 1st mortgage loan closed, while meeting established productivity and turn-around time goals. Summarize findings in a standard format.
3. Responsible for reviewing a random sample of consumer loans and maintains the exception database. Loan reviews include but not limited to the following: loan rates, loan documentation, correct policies and procedures followed.
4. Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws appropriate to the position.
5. Perform branch and department reviews of consumer loan documents, systems records, and internal controls.
Loan reviews include but not limited to the following: loan rates, loan documentation, correct policies and procedures followed.
6. Strive to achieve daily and monthly production goals without compromising quality. Provide findings to management in an effective and timely manner.
7. Identify, investigate and respond to requests for information from branches, internal departments and management regarding loan action, policy violations and loan discrepancies.
8. Assist with updating the quality control and assurance policies, procedures and processes in accordance with changes to federal and state regulations, investor guidelines and internal policies and procedures.
9. Perform follow-up reviews to determine appropriate action was taken on reported findings and that desired results are achieved.
10. Work with management to identify process inefficiencies and submit procedural updates for approval, as needed.
11. Maintain a current working knowledge of the mortgage industry, agency and investor guidelines, policies and procedures applicable but not limited to Fannie Mae, Freddie Mac, FHA, and VA by attending on-line training and seminars.
12. Maintain a current working knowledge of all consumer loan policies and procedures, as well as credit scoring, credit bureaus, risk scores, and monitoring systems.
13. Perform all other related duties as assigned.
1. EDUCATION: A four-year, business-related degree from an accredited college or university is preferred.
Additional experience in processing, originating, or underwriting of consumer and mortgage loans may be considered in lieu of a 4 year degree.
2. EXPERIENCE: Five years or more in a lending position performing credit and financial analysis within a real estate and consumer lending environment.
3. KNOWLEDGE/SKILLS: Current working knowledge of the consumer lending and mortgage industry, basic principles and practices, mortgage loan process, FNMA, FHLMC and MI guidelines. Excellent analytical and decision making skills in the consumer lending and home loan areas. Excellent time management skills and the ability to work independently within a team. Strong customer/ member service relations, oral and written communication skills. Typing, ten-key, Microsoft Office and personal computer skills to include internet navigation, copier and facsimile machines are required.
Job Type: Full-time