NexBank BANK COMPLIANCE MANAGER (Mortgage Division) in DALLAS, Texas
The Mortgage Compliance Manager reports to the Chief Compliance Officer and is a strategic member of the mortgage production and the compliance team. This position is a driver of the Mortgage Compliance Program as well HMDA and the Fair Lending (FL) Monitoring Program and will assist in ensuring the bank complies with various risk assessments for mortgage lending related state and federal regulatory requirements as well as bank designated policies, procedures, and practices.
- Leads mortgage compliance initiatives and maintains a good working knowledge of the requirements of Fair Lending and other mortgage origination regulations including but not limited to knowledge of Home Mortgage Disclosure At (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), RESPPA/TIL (TRID), Flood Disaster Protection Act (FLOOD), etc.
- Manages HMDA processes to ensure timely preparation, maintenance and annual submission of the loan application register (LAR) via Marquis Centrax platform.
- Reviews loan application data and credit files on a monthly basis for accuracy in reporting consistent with the requirements of HMDA, including HMDA on pool loans.
- Lead Fair Lending monitoring initiatives through generating and analyzing reports to identify fair lending performance, gaps in loan origination and broker relationships throughout the Bank’s assessment area and in comparison to our peers. Maintain documentation of compliance with fair lending.
- Work closely with Chief Compliance Office and SVP of Mortgage Banking 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 Bank policy, Federal Regulations and requirements. Maintain logs and/or reporting on these activities and make monthly reports to Chief Compliance Officer.
- Oversee compliance related findings identified in monthly QC Review and/or mortgage servicing QC reviews and evaluate for trends or systemic issues; make reports to Chief Compliance Officer.
- Lead in the development and maintenance of risk assessments for all major mortgage lending compliance regulations such as Fair Lending, ECOA, HMDA, FHA, FCRA, FLOOD, TRID, RESPA, TIL. When required, prepares written reports and summaries to the Chief Compliance Officer on analysis and conclusions of various mortgage compliance issues.
- Work with SVP of Mortgage Banking and assist mortgage production personnel as needed with trouble-shooting and solutions for compliance related issues during loan origination and closing processes.
- Maintain mortgage compliance policies, procedures and programs to ensure compliance with existing regulations and best practices, in collaboration with the Chief Compliance Officer and SVP of Mortgage Banking.
- Monitors federal and state regulatory developments that potentially impact the Company’s residential mortgage activities.
- Assists and tracks progress of audit/exam request and exception items to ensure timely response and resolution.
- Liaison between the Closing Team and Doc Magic Team including but not limited to recommending forms, new compliance programs/Plan codes, and assisting in working with Closing Team to clear all critical loan compliance errors. Upon discovery of a fatal issue, work with the Doc Magic team to resolve and recommend changes to the system in a timely manner. Report such issues.
- Responsible for tracking all loans in a designated Flood Zone, escrow requirements and reporting flood related loan origination(s) to the Chief Compliance Officer monthly.
- Periodically monitoring subservicers for FLOOD and other critical compliance servicing functions as needed.
- Attend weekly/monthly internal Compliance Committee meetings with mortgage production staff to present and review compliance and fair lending initiatives, issues, gaps, audits and activities.
- Assist with monitoring and geo-coding loans funded through partners for fair lending and CRA.
- Reviews all State, Federal, and CFPB regulations and communicate effectively within operations.
- Learn and be responsible for NMLS licensing requirements
- 7-10 years mortgage compliance experience, REQUIRED.
- 3-5 years in managing and leading enterprise-wide mortgage compliance initiatives including maintaining risk assessments, fair lending programs, and HMDA, REQUIRED.
- B.A/B.S. Degree from a four (4) year college, REQUIRED.
- Strong knowledge of mortgage compliance regulations and requirements including but not limited to HMDA, Fair Lending, ECOA, FHA, FCRA, FLOOD, TRID, RESPA, TIL, etc.
- Ability to work independently & responsibly with minimal required supervision.
- The ability to understand and implement best practice knowledge with regard to government regulations and laws by maintaining current knowledge of organizational policies and procedures, federal and state policies and directives, and current mortgage compliance standards.
- Strong language and communication skills with the ability to communicate clearly and concisely across with the Chief Compliance Officer, mortgage production and operations personnel and across multiple levels, foster open communication, and active listening with both internal and external stakeholders.
- The willingness to proactively help develop and participate in a culture of continuous improvement allowing the company to maintain effective compliance and organizational efficiency.
Keyword: Compliance,Mortgage,CRA,HMDA,Fair Lending,TIL,Risk Assessment, Mortgage Lending