Servicing Compliance Specialist
Primary Residential Mortgage, Salt Lake City, UT, United States
Position Purpose – Responsibilities/Duties/Functions/Tasks
The purpose of this position is to perform and manage various processes within the Mortgage Servicing Compliance Department. As a Servicing Compliance Specialist, a key responsibility is to manage the intake and research functions for new state and federal regulations that impact mortgage servicing operations. In addition, the Servicing Compliance Specialist will work with the servicing department to collect the necessary information to draft formal responses to inquiries in a timely manner. Additional daily workflow items will be performed including project management functions to support the servicing department from a compliance standpoint. The position requires the ability to manage daily processes for reviewing and tracking new regulations, communicate effectively through written communications and working with the various business units to update required procedures to ensure compliance with regulations.
Perform the intake, review and tracking of new mortgage servicing regulations
Assist in drafting new policies and managing annual review processes
Conduct research on various state and federal requirements for company initiatives
Coordinate with the Servicing Department and draft formal responses to written inquiries
Assist with state examinations as needed
Provide compliance guidance and support to the Servicing Department
Manage the remediation and tracking of error resolution projects
Complete regulatory research review projects as needed
Qualifications
Excellent verbal and written communication skills
Skilled in online research and documentation
Proven record of strong work ethic and attention to detail
Basic knowledge of laws and regulations such as TILA, RESPA, HOPEA, FACTA, Fair Lending Act, Government (FHA, VA) requirements, state regulations, disclosure requirements, loan document knowledge, and loan flow
Proficiency in using office equipment and computer systems typically found in the office setting, including Microsoft Office products, virtual meeting platforms, and internet applications
Ability to work in a team environment and also work independently
Preferences
Experience and proven ability to draft Policies and Procedures
Strong technical writing skills
Regulatory compliance experience
Experience as a mortgage servicer, underwriter, auditor, processor, or compliance specialist
Knowledge of MSP Black Knight, federal and state regulations, Fannie Mae, Freddie Mac, FHA, USDA, and VA agency mortgage servicing guidelines
Supervisory responsibilities Has the responsibility to make decisions relating to specific assigned projects and daily functions and ensures that the decisions made are within the scope of PRMI policies and procedures for the well-being and success of the company.
Company Conformance Statement
Review and adhere to policies and guidelines contained within the Employee Handbook, including privacy and information security guidelines.
Act within delegated authorities and adhere to applicable policy and procedures associated with such authorities.
Contribute to establishing a respectful workplace where diversity is critical to innovation and growth.
Ensure every action and decision is aligned with PRMI values.
Partner with your management team to understand performance expectations and measurements. Effectively utilize feedback and coaching opportunities while seeking to learn and develop within your role at PRMI.
Realize team synergies through networking and partnerships across PRMI.
Embrace change; act as advocate and role model, promoting an approach of continuous improvement.
Maintain a high standard of customer care while actively listening to customers in an effort to understand their views and needs. Take ownership of problems and issues, taking into consideration the breadth of PRMI competencies in providing solutions.
Work independently while understanding the necessity for communicating and coordinating work efforts with other employees and organizations.
Work effectively as a team contributor on all assignments.
Perform quality work within deadlines.
Respect client and employee privacy.
Work Requirements Each employee must be able to communicate clearly and effectively, utilize a computer, maintain a work schedule, and effectively perform in an office setting. To maintain and ensure secure privacy of borrower (and other protected) information, an essential function of this job may require physical attendance in a defined office space (i.e. branch or corporate office location). Employment with PRMI requires compliance with and adherence to all applicable mortgage and fair lending laws and regulations as well as PRMI policies. The ability to work extended hours may be required. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.
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Perform the intake, review and tracking of new mortgage servicing regulations
Assist in drafting new policies and managing annual review processes
Conduct research on various state and federal requirements for company initiatives
Coordinate with the Servicing Department and draft formal responses to written inquiries
Assist with state examinations as needed
Provide compliance guidance and support to the Servicing Department
Manage the remediation and tracking of error resolution projects
Complete regulatory research review projects as needed
Qualifications
Excellent verbal and written communication skills
Skilled in online research and documentation
Proven record of strong work ethic and attention to detail
Basic knowledge of laws and regulations such as TILA, RESPA, HOPEA, FACTA, Fair Lending Act, Government (FHA, VA) requirements, state regulations, disclosure requirements, loan document knowledge, and loan flow
Proficiency in using office equipment and computer systems typically found in the office setting, including Microsoft Office products, virtual meeting platforms, and internet applications
Ability to work in a team environment and also work independently
Preferences
Experience and proven ability to draft Policies and Procedures
Strong technical writing skills
Regulatory compliance experience
Experience as a mortgage servicer, underwriter, auditor, processor, or compliance specialist
Knowledge of MSP Black Knight, federal and state regulations, Fannie Mae, Freddie Mac, FHA, USDA, and VA agency mortgage servicing guidelines
Supervisory responsibilities Has the responsibility to make decisions relating to specific assigned projects and daily functions and ensures that the decisions made are within the scope of PRMI policies and procedures for the well-being and success of the company.
Company Conformance Statement
Review and adhere to policies and guidelines contained within the Employee Handbook, including privacy and information security guidelines.
Act within delegated authorities and adhere to applicable policy and procedures associated with such authorities.
Contribute to establishing a respectful workplace where diversity is critical to innovation and growth.
Ensure every action and decision is aligned with PRMI values.
Partner with your management team to understand performance expectations and measurements. Effectively utilize feedback and coaching opportunities while seeking to learn and develop within your role at PRMI.
Realize team synergies through networking and partnerships across PRMI.
Embrace change; act as advocate and role model, promoting an approach of continuous improvement.
Maintain a high standard of customer care while actively listening to customers in an effort to understand their views and needs. Take ownership of problems and issues, taking into consideration the breadth of PRMI competencies in providing solutions.
Work independently while understanding the necessity for communicating and coordinating work efforts with other employees and organizations.
Work effectively as a team contributor on all assignments.
Perform quality work within deadlines.
Respect client and employee privacy.
Work Requirements Each employee must be able to communicate clearly and effectively, utilize a computer, maintain a work schedule, and effectively perform in an office setting. To maintain and ensure secure privacy of borrower (and other protected) information, an essential function of this job may require physical attendance in a defined office space (i.e. branch or corporate office location). Employment with PRMI requires compliance with and adherence to all applicable mortgage and fair lending laws and regulations as well as PRMI policies. The ability to work extended hours may be required. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.
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