Loan Origination Compliance Assistant

Department: Lending
Reports to: XXX
Supervises: Not Applicable
FLSA Status: Full Time (Non- Exempt)
Date Prepared: XXX

The Loan Origination Compliance Assistant will be responsible for the monitoring of Borrowers’ insurance coverage. In addition, the Loan Documentation Compliance Assistant will assist in completing other duties as assigned.

Duties and Responsibilities
  • Monitor of all applications received by the Bank to ensure compliance with Regulation B with regards to complete packages and notifications to the applicants.
  • Review loan application to verify that it is complete.
  • Send applicant’s consumer loan related disclosures within regulatory timeframes.
  • Maintain documentation for application compliance monitoring and record keeping requirements set by the Bank.
  • Prior to closing, review loan files for completeness, accuracy, and compliance standards.
  • For applications that do not close, ensure that the application packages are complete and within compliance standards.
  • Send credit report disclosure documents to applicants.
  • Assist with special projects as assigned.
Education / Experience
  • Associates’ degree in a business related field of study or relevant work experience.
  • Minimum of 3 years of experience in compliance and residential loan administration related functions.
  • Computer literate especially with reference to word processing and spreadsheet programs such as Microsoft Word and Excel.
  • Strong attention to detail.
  • Ability to work on multiple projects in carrying out your job functions, managing time and resources to ensure work is completed efficiently and within established timeframes.

It is the responsibility of each bank staff member and of management to adhere to policies and procedures designed to implement compliance with the laws and regulations to which the bank is subject. Each bank staff and management member shall be accountable for understanding how compliance with laws and regulations affects the performance of their day-to-day duties, for completing compliance training as assigned and for carrying out those duties in a manner to achieve compliance with those laws and regulations.

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