This position oversees the following functions:
- Quality Control (QC) – The personnel and systems that review loan files to meet secondary market and regulatory guidelines for origination, processing, underwriting and servicing. This group interacts with TruHome’s management team, clients, agencies, PMI companies, and others regarding QC findings, repurchase requests, and general compliance matters.
- Reporting and Licensing – The team that handles the gathering of all information requested by state and federal agencies for exams, coordinates research and responses with the Legal Department, ensures that all licensing requirements are met (individual loan officers, as well as TruHome as a company for originations and servicing), and certain reports are submitted on a timely basis (call and HMDA reports).
- Training – The internal team and systems that deliver company-wide compliance training. Delivery is both live and online.
- Policies and Procedures – The publishing and maintenance of compliance-related company policies and procedures using external systems and resources.
- Responsible for the productivity and quality of work for the functions listed above. Must establish appropriate metrics to measure effectiveness of these teams.
- Provide effective, integrated counsel to Originations and Servicing functions on all regulatory compliance matters. Must possess detailed knowledge of all areas of mortgage regulation and be abreast of all current developments. Responsible for identifying specific effects on TruHome’s operations, and communicating them timely to business leadership.
- Ensure that TruHome as a company, and applicable TruHome employees individually, are appropriately licensed in all respects. TruHome Legal Department may be of counsel in this regard.
- Respond to requests by agencies or other regulatory authorities and, as needed, assist department management with coordination of external exams (or information requests) by various parties (i.e. agencies, PMI companies, clients).
- Deliver monthly reporting of Quality Control findings, with appropriate explanation, to Sr. Staff, business unit management and clients, as applicable.
- Continually develop all staff within the reporting structure to improve their professional capabilities, industry knowledge, and compliance skills.
- Appropriately address any requests by agencies to re-purchase or indemnify loans previously sold. Proactively consult with business leadership to ensure the causes of such requests are addressed.
- Consult with business leadership to ensure any needed company-wide training programs are enacted.
- Actively promote candid communication throughout TruHome and all affiliates to ensure the best possible compliance outcomes.
- Demonstrate behavior consistent with the TruHome’s values, philosophies, and leadership style.
- Perform other duties, as assigned.
KNOWLEDGE, EXPERIENCE, AND ABILITIES
- Extensive working experience in the areas of regulatory development monitoring, compliance research, quality control, agency/ regulator relations, and licensing required.
- Extensive knowledge of laws and regulations pertaining to mortgage lending (including regulations C, X, Z and Fair Lending Practices), existing and emerging legislation and regulation, and mortgage lending operations and procedures required.
- Extensive knowledge of FNMA, FHLMC, and secondary market underwriting guidelines and eligibility requirements required.
- Must be a self-motivated leader with the ability to define clear objectives, develop action plans, and provide results.
- Excellent analytical abilities and good business judgment are essential.
- Excellent interpersonal skills including oral and written communications, are a must.
- Must possess effective project management skills, with the ability to manage multiple complex projects simultaneously.
- Must demonstrate the ability to work both as a member of a team, as well as independently, without close supervision.
- Ability to resolve interpersonal conflict and miscommunications productively.
- Knowledge of spreadsheet software and ability to use word processing software.
- Ability to maintain a high level of confidentiality.
- Must be able to be bonded.
In this position, individual will be expected to lift up to 20 pounds from time to time. Also, must be able to stoop, bend, reach or stand for extended periods of time. Must be able to sit and use a computer for extended periods of time.
This position is expected to work in general office environment and may have to travel for visits to other facilities or for training purposes.
Bachelor’s degree in accounting, finance, or business administration (or similar) preferred, but will consider a candidate with at least fifteen (15) years of progressive experience in Mortgage Lending. The ideal candidate will have seven or more years of management experience in relevant areas of compliance, quality control, training and policy/procedure development.