What are the responsibilities and job description for the Senior Compliance Specialist position at LitFinancial?
Lit Financial is on a mission to be the most client focused mortgage company in the industry. As of 2026, Lit Financial has earned a perfect 5-star review with the Better Business Bureau and a 4.9 rating with hundreds of reviews from Google by delivering a world class experience. Lit Financial is a dynamic organization built with go-getters who are passionate, hardworking, and honest which fuels an incredible environment.
Position Summary
An independent mortgage bank based in Troy, Michigan is seeking an experienced Senior Compliance Specialist to lead and oversee all aspects of mortgage compliance across the organization. This role will report directly to the Chief Operating Officer and serve as the primary subject matter expert on federal and state mortgage regulations.
The Senior Compliance Specialist will be responsible for ensuring compliance throughout the full loan lifecycle — including sales, origination, processing, underwriting, closing, and post-closing — while also assessing, designing, and implementing processes to strengthen the company’s compliance infrastructure. As the company continues to grow, this role will play a critical part in building and formalizing a scalable compliance management system to support that growth.
Key Responsibilities
Monitor and interpret federal and state mortgage regulations, including but not limited to:
- TILA/RESPA (TRID)
- ECOA
- HMDA
- FCRA
- SAFE Act
- FHA, VA, USDA guidelines (as applicable)
Ensure adherence to requirements set by agencies such as:
- Consumer Financial Protection Bureau
- Department of Housing and Urban Development
- Federal Housing Administration
- Department of Veterans Affairs
- Michigan Department of Insurance and Financial Services
- Maintain and update compliance policies and procedures to reflect regulatory changes.
Loan Lifecycle Compliance
Conduct compliance reviews across:
- Sales and marketing practices
- Loan origination
- Processing and underwriting
- Closing disclosures and documentation
- Post-closing quality control and audit
- Review loan files for accuracy, completeness, and regulatory adherence.
- Oversee HMDA data collection, integrity, and submission.
- Identify and mitigate compliance risks proactively.
Compliance Management System (CMS)
- Design, implement, and maintain a comprehensive Compliance Management System aligned with regulatory expectations.
- Develop internal controls, monitoring protocols, and audit schedules.
- Create corrective action plans and track remediation efforts.
- Establish documentation standards and audit trails.
Training & Culture
- Develop and deliver compliance training to sales, operations, underwriting, and leadership teams.
- Serve as a trusted advisor to department leaders on compliance-related decisions.
- Foster a culture of accountability and proactive compliance throughout the organization.
Monitoring & Reporting
- Provide regular compliance reports to the COO and executive leadership.
- Prepare for regulatory examinations, investor audits, and internal reviews.
- Act as the primary point of contact during regulatory audits or exam
Qualifications
Required:
- 3 years of mortgage compliance experience within a mortgage banker or lender.
- Strong knowledge of federal and state mortgage regulations.
- Experience conducting compliance audits and file reviews.
- Familiarity with loan origination systems and mortgage workflows.
- Proven ability to build or enhance compliance processes.
- Strong analytical, organizational, and communication skills
- Experience supporting a transition to direct lender status.
- Prior experience interacting with regulators or managing examinations
What We Offer:
- Competitive salary and performance-based bonuses
- Health, dental, and vision insurance
- Employer HSA contributions
- 401(k)
- Paid time off and holidays
- Supportive and collaborative team environment
- Career growth opportunities within Lit Financial