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Years of Experience
Date Last Verified
Compliance Attorney Duties: Ensure companywide compliance with applicable federal and state consumer lending and mortgage banking and related servicing laws and regulatory matters. Evaluate and provide analysis and counsel on legal issues relative to compliance matters. Responsible for the completion and management of assigned projects. Supports a comprehensive program for compliance risk controls and reviews throughout the organization to ensure company-wide compliance with consumer lending and mortgage banking and related servicing laws and regulatory matters at the federal and state level. Recommends, develops, and implements changes to existing and proposed procedures, policies, and programs, oversees revision, reparation and dissemination of new and updated compliance standards and procedures. Keeps abreast of regulatory and legal developments governing consumer lending and mortgage banking, specifically as they relate to mortgage servicing regulations. Provides advice, guidance and insight to Senior Management and staff personnel on emerging compliance issues and consults and guides the company in establishment of controls to mitigate risk. Provides assistance to various departments in the formulation of forms and disclosure documents for compliance with all policies and procedures. Identifies and communicates need for compliance education programs and assists in developing compliance training to all staff members. Ensures that company-wide policies and procedures, on matters for which Attorney is responsible, are applied in full recognition of all legal implications and risks. Remains current and knowledgeable about application legislation, as well as pending legislation and administrative regulations pertinent to the company; as assigned, provides counsel to other departments in interpretation and training so as to minimize non-compliance risks. Conducts research on projects as required by the Senior VP of Regulatory Compliance Compliance. Performs such other responsibilities and duties as assigned by the Senior VP of Regulatory Compliance Compliance.
Qualification and Experience
Requirements: JD Degree. 4+ years in regulatory compliance and/or legal responsibilities in mortgage servicing related regulation and laws. Strong working knowledge of mortgage servicing business operations and procedures. Demonstrated ability to cope with a rapidly changing regulatory environment on a federal and state level. Excellent oral and written communication and interpersonal skills with the ability to develop working relations with the business units supported. Ability to deal with legal and compliance issues in a practical and efficient manner; excellent analytical skills; exceptional oral and written communication skills; good interpersonal skills; ability to persuade and present positions effectively yet inoffensively; flexibility and willingness to work under pressure with tight deadlines. Self-sufficiency in approach to work and excellent prioritization and planning skills. Very attentive to detail. Ability to manage complex assignments independently while also working effectively as part of a team. Experience performing researching and writing on a variety of rules, regulations and updates. Thorough knowledge and understanding of compliance and regulatory requirements applicable to consumer lending, mortgage banking, and servicing laws and other mortgage related laws and regulations, including: Federal regulations, laws and programs (CFPB, TILA, RESPA, ECOA, FDCPA, FCRA, FACTA, FHA/VA, Reverse Mortgages, Bankruptcy, the U.S. Treasury/Freddie Mac/Freddie Mae modification and refinance programs). Nationwide state mortgage lending laws and procedures. Licensed Attorney, qualified to practice in the State of Illinois is preferred. Internal Contacts: Legal Department; Mortgage Disposition Department; Loss Mitigation Department; Escrow Department.
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