Loan Operations Specialist III

Primary Purpose: (Summary of major reason this job exists)

Ensure compliance with Home Mortgage Disclosure Act (HMDA), TILA-RESPA integrated disclosures (TRID), and the Community Reinvestment Act (CRA) by monitoring the regulations for changes and reviewing loans and data reports for accuracy.

Principal Duties and Responsibilities: (Majority of duties performed, but not meant to be all inclusive or to prevent other duties from being assigned

* Monitors TRID, HMDA, and CRA regulations and reports updates and interpretation changes to Central Loan Operations Management.

* Creates, verifies, and delivers the combined CRA and HMDA/Fair Lending file quarterly for vendor use in Fair Lending and Red Lining analysis.

* Reviews all HMDA, and CRA reportable transactions after they have been processed by the Post Closing department of CLO.

* Reviews all TILA-RESPA integrated disclosures (TRID) documents before the disclosure is sent to the customer.

* Coordinates and/or resolves transactions that are unclear with the Loan Officer, Post-Closing department, Document Prep department and Compliance when necessary.

* Assures that all HMDA, and CRA reportable transactions are processed in accordance with the regulatory reporting requirement of twenty (20) days after the transaction is decisioned.

* Assures that all TILA-RESPA integrated disclosures (TRID) transactions are reviewed thoroughly and ensure the disclosures are delivered in a timely manner

Job Specifications: (Knowledge, skills, and abilities normally required for competent performance in the job)

* College graduate in Banking or related field or a minimum of two years banking experience with HMDA/CRA reporting preferred

* Excellent understanding of TILA-RESPA integrated disclosures (TRID), Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA)

* Ability to read and interpret promissory notes, including understanding terms, conditions payment schedules, and financial details

* Strong knowledge of Microsoft Excel

* Strong oral and written communication skills

* Knowledge of NetTrax HMDA/CRA tracking functions preferred

* Knowledge of Sales and Service (P2) functions preferred

Disclaimer

The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.