HMDA Quality Assurance Specialist

Primary Purpose:

To ensure compliance with both the letter and the spirit of federal and state laws or regulations governing the Bank’s activities with regards to Home Mortgage Disclosure Act (HMDA) which governs the collection and disclosure of data about applicant and borrower characteristics.  Review HMDA data on bank and mortgage division loans to ensure data gathering and reporting is compliant with the HMDA regulation. 

Essential Responsibilities:

• Review designated loans (originated and non-originated) from the bank and the mortgage division (including loans received through joint venture agreements) to ensure data reporting accuracy by using prescribed HMDA testing form and CFPB HMDA guides to validate data against source documents
• Track errors and compile monthly error report of HMDA testing results and provide to LOB Managers
• Ensure HMDA Time Management tracking is updated to enable completion of quarterly dashboards on HMDA testing schedule status and testing results for management
• Stay abreast of lending policies and procedures to identify inconsistencies with HMDA data gathering and collection
• Maintain knowledge of the bank & mortgage lending loan origination, loan processing and core banking systems to understand their impact on HMDA to ensure continued efficiencies and controls for the HMDA data collection process
• Keep abreast of HMDA regulations to ensure requirements are supported in HMDA testing process
• Participate in training development to address HMDA related items
• Assist lending staff with HMDA related questions/inquires
• Perform periodic HMDA LAR due diligence testing prior to annual regulatory filing
• Responsible for the HMDA LAR submission process ensuring compliance with required fields and deadlines as prescribed under REG C
• Maintain and update departmental HMDA testing procedures as necessary
• Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA).
• Other duties as assigned

Minimum Required Skills & Competencies:

• 1-2 years of experience in banking and/or mortgage loan compliance activities
• Strong knowledge of Regulation C (HMDA)
• Excellent written & verbal communication skills with an eye for detail
• Organization skills and computer proficiency in Excel and Word
• Ability to work well under pressure and in an ever-changing regulatory environment
• Ability to meet review schedule deadlines
• Discretion and a demonstrated ability to work with highly sensitive and confidential information.
• High School Diploma or equivalent

Desired Skills & Competencies:

• Understanding with bank and mortgage loan processing systems and document imaging systems
• Understanding with mortgage loan documentation (Conventional, FHA, VA, RHS, Reverse)
• Understanding with bank loan documentation; both consumer and business/commercial

Physical Requirements:

• Express or exchange ideas by means of the spoken word via email and verbally.
• Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.
• Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
• Not substantially exposed to adverse environmental conditions.
• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential responsibilities of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential responsibilities.

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