Head of Servicing Compliance is a senior member of RoundPoint Mortgage Servicing’s Compliance team, reporting directly to the CEO. The Head of Servicing Compliance is responsible for integrating RoundPoint’s compliance with applicable laws, regulations, and investor guidelines into the business units. The position works closely with RoundPoint’s lending business units to apply changes in laws and regulations and assess impacts to its policies and procedures. In addition, this position is responsible for overseeing RoundPoint’s Credit Policy and Credit Risk oversight. The position is also responsible for managing all aspects of external exams from examiners, regulators, and third parties. Additionally, this role is responsible for overseeing RoundPoint’s licensing, Fair Lending/Servicing, HMDA requirements and GSE/Agency approvals.
Key Tasks and Responsibilities:
Provide oversight and direction for the Servicing Corporation’s activities regarding regulatory compliance requirements, which includes Fannie Mae and Freddie Mac servicing guidelines and all pertinent state and federal laws.
Effectively monitor all investor directives and regulatory updates and communicate these to ensure awareness of both actual and pending changes.
Assist in the development and/or revision of appropriate policies and procedures to comply with changes in regulatory and investor requirements. Work with the appropriate business units in integrating the requirements of these policies and procedures into the business process.
Proactively identify compliance risks, evaluate corporate operations for regulatory issues and develop and/or refine existing policies and processes, to ensure that RoundPoint’s exposure to compliance failures is minimized.
Oversee RoundPoint’s response to inquiries from regulators, including the management of onsite audit visits.
Manage the Servicing Company’s compliance monitoring program.
Review the findings of the monitoring program with pertinent personnel and discuss recommendations for corrective action.
Review and maintain effectiveness of the current compliance monitoring program, through periodic discussions with the senior leadership team.
Ensure RoundPoint obtains, holds and maintains compliance with all required licenses to conduct its business of owning and servicing residential mortgage loans and mortgage servicing rights and to maintain its active status with Fannie Mae, Freddie Mac, FDIC, Ginnie Mae, FHA/HUD, VA, and USDA.
Assist with compliance and regulatory departmental training within the Servicing Corporation.
Maintain written and online policies and procedures, updating departmental website and SOP manuals.
Must have at least 10 years demonstrated history of providing compliance advice and direction applicable to residential mortgages.
At least 5 years of experience as a compliance manager in financial services, with mortgage experience.
FNMA, FHLMC, FHA, and GNMA experience preferred.
Experience interacting with regulators
Experience setting and overseeing compliance with credit policy and lending standards
Experience with retail and correspondent lending activities
Experience with Fair Lending and HMDA activities
Strong leadership experience
Must be an articulate, effective communicator able to prepare and deliver project specific reports. Must have project management experience.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job:
The employee is regularly required to talk or hear. The employee is required to sit for extended periods of time and is occasionally required to stand and walk. The employee must regularly use hands to finger, handle, or feel objects and is regularly required to reach with hands and arms; the employee may occasionally climb or balance, and stoop, kneel, crouch, or crawl. The employee must frequently lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, and ability to adjust focus. The noise level in the work environment is usually quiet to moderate, and no extreme conditions are present.