Mortgage Compliance Officer

Description

Position Purpose and Objectives

The Mortgage Compliance Officer is responsible for helping ensure that the Credit Union's mortgage lending activities comply with all applicable federal, state, and local laws and regulations. This role involves assisting with developing, implementing, and maintaining compliance programs, policies, and procedures to mitigate risk and ensure adherence to regulatory requirements.

Major Duties and Essential Functions

• Support the credit union's mortgage compliance program.
• Maintain up-to-date knowledge of mortgage lending laws and regulations, including but not limited to the Equal Credit Opportunity Act (ECOA), Home Mortgage Disclosure Act (HMDA), Fair Housing Act (FHA), Truth-in-Lending Act (TILA), Real Estate Settlement Procedures Act (RESPA), TILA-RESPA Integrated Disclosures (TRID, Ability-to-Repay/Qualified Mortgage Rule (ATR/QM Rule).
• Stay abreast of new regulations and any changes to existing regulations impacting mortgage lending. Monitor and interpret regulatory changes affecting mortgage lending and work with departments to ensure timely implementation of necessary adjustments, to include updates to policy and procedures.
• Stay abreast of all new regulatory/legal compliance issues related to mortgage lending, which are in the "pipeline" and develop a high-level analysis of how new regs will impact Texans’ business processes. Develop a milestone chart or other mechanism to manage the pipeline.
• Review forms, disclosures, and other documents to validate information and ensure compliance with applicable laws and regulations.
• Conduct regular compliance quality control reviews and work with department leadership to develop corrective action plans.
• Document and report the results of each review to management.
• Provide guidance to staff on mortgage compliance matters, including new regulations and best practices, ensuring staff are informed of new obligations and partnering with the department leadership to operationalize. 
• Assist in managing the review and approval process for marketing materials, customer communications, and operational changes to ensure compliance with regulations.
• Participate in projects to develop and implement new mortgage products, services, or processes to provide relevant input to ensure regulatory compliance.
• Prepare and submit required regulatory reports and filings in a timely manner.
• Act as the SAFE Act Officer for the Credit Union.
• Partner with department leadership to respond to any regulator and/or auditor finding that require response & remediation.
• Other duties as assigned.

Requirements

Specific knowledge, skills, and abilities required for this position: 

• In-depth knowledge of federal and state regulations affecting mortgage lending.
• Specific knowledge of mortgage lending policies, procedures, services and products effecting operations
• General knowledge of Credit Union or financial institution operations
• Ability to read, analyze and interpret policies, procedures, technical journals and legal documents 
• Ability to respond to common and complex mortgage compliance inquires
• Ability to communicate effectively with all levels of employees and across departments, both orally and in writing, and establish and maintain effective working relationships 
• Ability to effectively manage time, prioritize work; be detail oriented; handle multiple tasks; and select appropriate courses of action 
• Ability to work independently, with limited supervision, and as member of team, and to be accountable for decisions
• Ability to think critically, exercise judgment and sound discretion
• Ability to proficiently use MS Office products and Adobe Pro

Education: 

• Bachelor's degree in finance, business administration, or a related field.

Experience:

• Minimum of 3 years of experience in mortgage compliance or a related role within the financial services industry.
• An equivalent combination of education and experience may be considered.
• Professional certifications such as Certified Mortgage Compliance Professional (CMCP) or similar are preferred.