Consumer Loan Underwriter -Compliance

Bank of Ann Arbor - Ann Arbor, MI (30+ days ago)3.9


Job Description:
Summary of Duties: Complete the underwriting and approve consumer loan products including Home Equity loans, lines of credit, installment loans, and credit cards with the cooperation of individual lenders. Review of new files for compliance accuracy and implementation of new regulatory changes.

Essential Functions:
Performs necessary research regarding the client application to complete the underwriting, including review of application, gathering financial information, running credit reports, calculating ratios and loan to values, determining and citing exceptions to bank policy and any other relevant documents to allow for the loan. Completes the approval form for review by the appropriate authorities, policies and procedures.
Completes accurate and adequate closing documentation for loan files.
Responsible for the consumer loans in the director scanning system.
Works with our credit card vendor to ensure our program / product is up to date and has the most recent disclosures as required by law.
Monitor changes in FIMA flood plains and administer changes to flood certificates for commercial, consumer and residential loans. Review, add and remove Flood insurance when necessary.
Answers questions of branch managers and other customer contact personnel concerning loan approval, underwriting, and provides guidance as needed.
Preparation of committee sheets for consumer loans.
Preparation of committee minutes for consumer and residential mortgage loans.
Preparation of short-sale and loan modifications due to real estate market declination or changing financial situations, which includes direct communication with customers, underwriting and preparing a summary for approval by the proper authority.
Perform subordination agreement underwriting and documentation, including all communication and management of the subordination process for any BOAA held residential mortgage.
Reviews all consumer application files for compliance accuracy - RESPA; Reg. "Z" TIL; Reg. "C" HMDA; Reg. "B" ECOA; FACTA; and Government Monitoring.
Manage consumer HMDA/CRA data analysis and file review workflow to insure timely and accurate reporting for the Bank and maintenance of year-to-date consumer HMDA and CRA LARS. Assists sales and support staff in resolving problems and questions.
Keeps informed of current underwriting practices and assists in updating the financial institution’s underwriting policies and upcoming regulatory changes, effective dates and writes and implements procedures (compliance and underwriting).
Provide guidance and support to business lines in their development, implementation and maintenance of effective consumer HMDA & CRA compliance procedures and stays current with all lending related laws, Dodd-Frank, UCC, and other applicable regulations
Assumes additional responsibilities as required by the position.

Required Experience:Position Requirements:
Bachelor’s degree in finance, accounting, or business and/or a combination of 5+ years equivalent education and experience.
Solid knowledge of bank loan products and services, with preferably a minimum of 3-5 years of consumer/mortgage lending experience.
Attention to detail, with strong analytical skills.
Proficient computer skills, with ability to use Word, Excel and other internal systems used to process loan applications.
Excellent organizational and communication skills, with the ability to effectively interact with bank staff and customers in order to maximize client satisfaction.
3-5 years compliance/CRA experience, examination or auditor background strongly preferred.
Experience with HMDA Submission a plus.
Solid understanding of Fair Lending Laws and Regulations.
Ability to manage multiple tasks and projects simultaneously.
Physical Demands and Work Environment

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions.

While performing the duties of this position, the employee is regularly required to talk or hear. The employee frequently is required to use hands or finger, handle, or feel objects, tools or controls. The employee is occasionally required to stand; walk; sit; reach with hands and arms; climb or balance; and stoop, kneel, crouch, or crawl.

The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this position include close vision, distance vision, color vision, peripheral vision, and the ability to adjust focus.

The noise level in the work environment is usually moderate.
Keyword: Consumer Loan Underwriter -Compliance
From: Bank of Ann Arbor