Production Compliance Quality Expert
Position: Production Compliance Quality Expert 1 Overview Position Summary: The Production Compliance Quality Expert works alongside production teams to ensure loan documents are accurate and compliant before they reach our customers. With a variety of loan types, states, programs, and products, you will play a key role in ensuring we adhere to all regulations and still meet production timing expectations. This professional will monitor credit decision timing, research new topics, and help leadership with continuous process improvement.
Responsibilities
- Review loan documents created by loan production teams for loans intended for sale before they are issued to consumers, covering 10 production states; FHA, VA, and Conventional loan types; 5 investors, Nebraska HFA program, multiple grants, and preferred lender agreements.
- Review disclosures including the Loan Estimate, Uniform Residential Loan Application, Settlement Service Providers List, and other investor, agency, federal, and state mortgage loan disclosures.
- Review early, revised, and post consummation Closing Disclosures.
- Review closing documents including traditional wet sign, hybrid, IPEN, and RON transactions.
- Ensure all production outputs comply with relevant regulations and standards, address underwriting conditions, and meet investor expectations.
- Identify LOS data entry integrity issues even when document output is accurate.
- Credit Decision Timing: Review loan applications in process for compliance with federal Regulation B timing standards and department practices.
- Issue weekly monitoring status updates to assist processing and underwriting staff with quality improvements.
- Collaborate with underwriting and operations management on handling unique situations; engage compliance department as needed.
- Review escrow holdback agreements for compliance with investor guidelines and prepare agreements as requested by rural title offices.
- Pre-qualifications: Review pre-qualifications performed by loan officers for adherence to compliance standards, retention requirements, adverse action activity, fair lending, and related quality concerns.
- Oversee all assigned review processes, maintain checklists, and provide reports on findings, quality, and metrics; create new reports as needed.
- Foster collaboration and provide support to production staff by managing review deadlines with production goals in mind, while maintaining clear communication and empathy.
- Assess potential production compliance risks and work with supervisors to mitigate them, identifying process improvements.
- Provide guidance and training on quality standards; create training materials such as PowerPoint slides, job aids, or instructional videos.
- Write and maintain all procedures related to the role.
- Perform and aggregate research on new compliance topics or loan quality mandates for stakeholders upon request.
- Learn from internal and external reviews; seek feedback and implement best practices to enhance skills and performance.
- Engage in ongoing training to deepen understanding of mortgage principles and apply them to improve loan quality, efficiency, and data integrity.
- Understand and adhere to bank policies, laws, and regulations; complete compliance training and follow internal processes and controls.
- An advanced knowledge level of federal and state mortgage regulations, especially Regulation Z, is required for advancement to a Quality Expert 2.
- Report all compliance issues and violations in accordance with bank policies.
- Regular and reliable attendance is an essential function of this position.
- Performs other job-related duties or special projects as assigned.
Qualifications
- Computer skills with proficiency in using software to achieve goals.
- Proficiency with collaboration tools and digital file management.
- Ability to manage multiple software applications and tasks simultaneously.
- Highly proficient in Microsoft Office and Encompass 360.
- Ability to prompt AI for quick and comprehensive research.
- Solid foundation in basic and financial math; familiarity with amortization, APR, finance charges, and pro rata calculations.
- Creative and big-picture thinking to identify innovative solutions aligned with goals.
- High school diploma required; post-secondary education preferred.
- 2+ years of experience in a secondary market operations or related role.
- Prior loan compliance experience preferred. Preferred Talents
- Time management and ability to handle multiple projects and deadlines
- Accurate and detailed
- Effective communicator
- Independent with team orientation
- Customer service focused
- Self-directed and proactive
- Professional demeanor aligned with bank policies
- Problem solving and big-picture thinking Working Environment This role has no external customer contact. Indoor work with no exposure to outdoor elements or hazards. Some sedentary work and occasional lifting up to 10 pounds. This role is eligible for hybrid work
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