Mortgage Compliance Officer

Primary Purpose of Position: The Mortgage Compliance Officer will work with MaineHousing lenders and partners to perform comprehensive loan purchase reviews to ensure loans comply with program regulatory requirements.

Education and Experience: Education and two years of experience in residential mortgage lending, underwriting or post-closing compliance, or a combination of six years of experience, training, and independent study preferred.

Core Functions:

· File Compliance Review (Home Mortgage Purchase Loans):

• Conduct pre-closing underwriting risk assessments by analyzing borrower debt ratios, credit history, loan-to-value and compensating factors.
• Perform residential mortgage compliance reviews for assigned lenders to ensure loans comply with agency policy, bond regulations, government (FHA, RD, VA) and private mortgage insurer requirements and credit quality standards.
• Identify areas of non-compliance and work with Lenders to resolve deficiencies.
• Identify and evaluate waiver requests.
• Monitor pipeline and work with partners to facilitate electronic loan delivery utilizing MaineHousing’s Lender Online Portal from reservation through clearing post-closing conditions.
• Review and discuss common areas of concern, repeated errors or issues with lender partners and internal MaineHousing’s staff
• Serve as technical resource to lenders, real estate professionals and potential home buyers.
• Monitor receipt of final documents for assigned lenders and work with partners to facilitate delivery.

· Independently research and navigate loan file issues and identify and communicate solutions or alternatives directly with assigned lenders.

· Conduct training for lenders, real estate professionals and non-profit agencies. Represent MaineHousing at outreach events.

· Other duties as assigned.

Skills and Knowledge:

· Experience in residential mortgage loan industry

· Experience in interpreting government regulations and mortgage regulatory compliance and quality control.

· Proficient computer skills using a variety of software applications, document imaging and database management skills.

· Strong project management, time management, and organizational skills.

· Excellent written and oral communications skills.

· Experience preparing reports, memos, letters and agreements.

· Ability to establish and maintain good working relationships with business partners.

· Ability to take initiative, work independently, and utilize creative and analytical skills to resolve issues.

Working Conditions: Fast paced environment with multiple priorities, interruptions & deadlines. MaineHousing business hours are Monday – Friday from 8:00am to 5:00pm. Telework may be available.

Reports To: Homeownership Manager

Supervises: no one

The starting hourly rate for the position is $20.4817 ($42,602 annually), plus a comprehensive benefits package, including, but not limited to, health, dental and vision, retirement options with employer match, life insurance, short and long-term disability, employee assistance, generous earned time and all major federal holidays. Employment is eligible for the Public Service Loan Forgiveness Program.

**Position will remain open until a suitable candidate is found**

Job Type: Full-time

Pay: From $42,602.00 per year

Benefits:

• Dental insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Parental leave
• Retirement plan
• Tuition reimbursement
• Vision insurance

Schedule:

• 8 hour shift
• Monday to Friday

Ability to Commute:

• Augusta, ME 04330 (Required)

Work Location: In person

Salary : $1,000 - $42,602