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Residential and Consumer Lending Review Specialist

Company: F&M Trust
Location: Chambersburg
Posted on: November 22, 2021

Job Description:

SUMMARY OF POSITION:Responsible for regulatory compliance of the residential and consumer loan portfolios. Performs pre- and post-closing review of all consumer loans and portfolio residential mortgages, works with Compliance Officer and Consumer Documentation Review Officer to provide regulatory guidance to consumer and residential lending teams, prepares and conducts training for department staff on regulatory issues.KEY ACCOUNTABILITIES:

  • Performs post-closing documentation reviews on both consumer and residential mortgage loans to ensure compliance with all regulatory requirements, satisfactory fulfillment of any remaining conditions.
  • Performs pre-closing reviews using a 10% sample of all loans to ensure regulatory compliance.
  • Completes the Residential Mortgage Loan Review checklist on all residential mortgage loans during the post-closing review.
  • Completes the Consumer Real Estate Loan Review checklist on all consumer loans during the post-closing review.
  • Is responsible to ensure that all outstanding issues that appear on both the Residential Mortgage Loan Review checklist and the Consumer Real Estate Loan Review checklist are communicated to the responsible party and follow up is maintained to ensure that all conditions are satisfied within 5 days.
  • Continuously monitors the Encompass Prospects and Pipeline folders to ensure that all loans meet regulatory requirements including Regulation B, ECOA, Safe Act, EConsent, FCRA, HMDA, RESPA, TILA, TRID and Fair Lending.
  • Works with Compliance Officer to assist department staff as needed to review and research all regulatory issues, and to satisfactorily implement them throughout the origination, processing and closing of Consumer Loans and Residential Mortgages.
  • Works closely with the Consumer Documentation Review Officer as a liaison between the Residential and Consumer Lending team and Risk Management. Will review and correct all compliance issues reported by the Consumer Documentation Review officer each week.
  • As a member of Compliance Committee in coordination with the Compliance Officer, monitors regulatory changes and develops training materials that includes these changes and to include applicable Residential and Consumer Lending policies. Presents to the Residential and Consumer lending teams these training materials during in person or virtual classes.
  • Coordinates the correction or mitigation of compliance errors. This process includes enlisting the help of department staff.
  • Maintains a data base of regulatory issues on all loan files to determine if potential training issues arise within either the Consumer team or the Residential team. Submits this report to the Residential and Consumer Lending Manager monthly.
  • Provides regulatory assistance in the development of new lending programs.REQUIRED EDUCATION:A high school diploma or equivalent is required, with an Associate's Degree preferred. Continued education and training required.REQUIRED EXPERIENCE:A minimum of three years in compliance or loan/processing operations background. Certified Regulatory Compliance Manager (CRCM) status preferred or willing to obtain.REQUIRED SKILLS:Must possess excellent organizational and time management skills. Ability to read, analyze and interpret general business periodicals, professional journals and technical procedures are required. Intermediate math and typing skills to meet the needs of the position. Must have the ability to deal tactfully and efficiently with fellow employees and customers. Must be able to work at pace that ensures that established deadlines are met. Must demonstrate proficiency in utilizing software applications and operating office equipment.F&M Trust is an Equal Opportunity Employer - M/F/Disability/Vet/SO

Keywords: F&M Trust, Germantown , Residential and Consumer Lending Review Specialist, Other , Chambersburg, Maryland

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