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Analyst
Flagstar Bancorp
Troy, MI, United States
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Position TitleHMDA Analyst
LocationHeadquarters-Troy, MI
Job Summary The HMDA Analyst reports to the HMDA Team Lead and has responsibilities primarily with respect to the Home Mortgage Disclosure Act (HMDA), and to a lesser extent, with respect to the Community Reinvestment Act (CRA), Equal Credit Reporting Act (ECOA), and Fair Housing Act (FHA). Primary responsibilities include compiling, testing, and submitting the HMDA Loan Application Register (LAR) to the Consumer Financial Protection Bureau (CFPB) in a timely manner.
Job Responsibilities:
30 % of time
: Create and maintain the Bank’s LAR of 150,000 to 200,000 loans, including CRA Small Business/Farm loans. Electronically submit required LAR to the CFPB in timely manner. Append the LAR with fair lending fields and submit to third party for regression testing and broker compensation analysis.
25 % of time: Independently conduct self-testing of loan data to ensure accuracy of LAR and compliance with HMDA regulation; identify any inconsistencies and recommend improvements for the Compliance Program. Direct business unit on process improvement for inconsistencies or issues identified. Prepare Key Risk Indicator reports for compliance monitoring for senior management review.
10 % of time: Work with IT and CRAWiz to ensure application is maintained, up to date with regulatory updates and working as intended.
10 % of time: Continuously update department procedures for collection, testing and reporting of HMDA and CRA reportable loans.
10 % of time: Collect information and participate in internal audits and regulatory exams. Assist with preparing reports and communications for the Fair Lending Compliance Program and CRA Program.
10 % of time: Assist the HMDA Team Lead in providing guidance to business units on the HMDA regulation and assist in creating processes to accurately collect and report loan data. Monitor and review changes in laws and regulations regarding HMDA and CRA.
5 % of time: Assist with collecting fair lending data, and conducting monitoring, testing and analyses, as needed.
Job Requirements:
• Bachelor’s Degree or equivalent experience RequiredField of Study (Law, Business or Public Administration, Compliance/Risk) Preferred
• Or 3 to 5 years Comparable Work Experience (Of like activity/client base)
• Professional Certification CRCM Preferred
• Should have at least 3 years of experience in regulatory compliance, preferably in HMDA, CRA or Fair Lending, or Internal Audit. Should have training in mortgage lending rules and regulations.
• 5+ years of experience in a financial institution, auditing firm, or consulting firm with a regulatory compliance focus
• 3+ years of regulatory compliance or internal audit, including HMDA, CRA or Fair Lending experience
• Knowledge of consumer protection laws and regulations impacting financial institutions
• Bank operations experience in mortgage originations, mortgage servicing, community banking, etc
• Ability to identify areas of continuous improvement and make recommendations to implement change.
• Ability to provide compliance related oversight to multiple business lines.
• Experience working with CRA Wiz Software.
• Knowledge of mortgage rules, specifically HMDA, ECOA, FHA, and CRA.
• Attention to detail.
Internal Use Only: H Band