Loan Quality Assurance Specialist

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Loan Quality Assurance Specialist I

SUMMARY

The Loan Quality Assurance Specialist - Consumer is responsible for monitoring compliance with regulations, credit policy, and internal controls for consumer and real estate loan types. The role focuses on two main areas: loan documentation quality pre- and post-reviews, First Line of Defense (FLOD) regulatory data integrity reviews and reporting. This Specialist documents findings, coordinates error resolution, and recommends improvements that strengthen loan quality and effectiveness and mitigate risk.

This position offers advancement as knowledge and skills increase.

MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)

Loan Quality Reviews (Pre-Review and Post-Review)

• Perform pre-closing review of new consumer real estate loan documentation to confirm regulatory compliance (including TRID and RESPA), bank policy compliance, and collateral perfection before providing documents to borrowers.

• Perform post-closing review of originated consumer real estate loans to confirm required documentation was properly executed, and critical loan terms are accurate in the core loan system.

• Perform post-closing reviews of consumer non-real estate loans and identify error patterns.

• Identify and enter tracking for missing documents and recurring documentation requirements into the exception tracking system.

First Line of Defense (FLOD) Regulatory Data Integrity Reviews and Reporting

• Ensure Home Mortgage Disclosure Act (HMDA) data accuracy, including origination and fallout validation and omission reviews.

• Monitor consumer loan application and processing information from the loan origination software to ensure regulatory compliance including fair lending, Military Lending Act (MLA), Equal Credit Opportunity Act (ECOA), and Fair Credit Reporting Act (FCRA).

• Review new loans to ensure compliance with Flood and Right of Rescission regulations.

• Maintain records of quality reviews with supporting documentation and enter findings to the First Line of Defense (FLOD) reporting and the bank’s risk management software.

• Assist with research and responses to regulatory discrepancies from compliance or auditors.

Documentation Accuracy and Tracking

• Validate and index imaged loan documents.

• Monitor reports and add document tracking when appropriate.

Lending Process Reviews (Servicing and Collateral Management)

• Assist with risk-based reviews of loan servicing processes, including ARM notices, billing statements, escrow, credit bureau processing, upload and maintenance loans, Service members, collateral insurance monitoring and paid loans.

ADDITIONAL DUTIES AND RESPONSIBILITIES

• Apply acquired job skills and adhere to all First United Bank policies and procedures to complete assigned tasks.
• Communicate review results and issues to supervisor, and recommend improvements to procedures and controls.
• Monitor and respond to internal email boxes and phone calls, providing support to community bankers, Loan Production, and Loan Servicing teams.
• Assist with consumer lending process observations and individual training.
• Attend team and department meetings as requested.
• Complete all assigned education, including annual compliance courses, and…