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#2001653 - 03/13/15 07:54 PM Loan Quality Control
stressedout Offline
Member
Joined: Mar 2015
Posts: 93
Hello, I am new to this position and this position is new to the Small savings bank that I work for. I am basically designing my own position and developing what I will do on a daily basis. I am wondering if people can suggest training or if there are people out in the position already that I can ask questions. Any help will be greatly appreciated.

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#2001960 - 03/17/15 12:17 PM Re: Loan Quality Control stressedout
osucpa Offline
Diamond Poster
Joined: May 2011
Posts: 1,406
To get some useful responses, you will need to provide some more detail. I assume you have a job description,give us some bullet points from it.

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#2002033 - 03/17/15 03:55 PM Re: Loan Quality Control stressedout
Pale Rider Offline
10K Club
Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
Agree with osu, for example, is your position internal quality control for safety and soundness, or will you be addressing the investors' requirements for the secondary market?
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Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.


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#2002409 - 03/18/15 05:33 PM Re: Loan Quality Control stressedout
stressedout Offline
Member
Joined: Mar 2015
Posts: 93
So here is some of the bullet points from my job description.
Perform monitoring procedures for the resident, commercial, and consumer Lending department and identify deficiencies or potential problems.
Responsible for monitoring all Bank loans in a flood zone to ensure compliance with Flood insurance programs.
Review and assist the Compliance Officer in revision and development of bank forms, agreements, and disclosures.
Verify the quarterly Loan Application Register, update HMDA public files, and assist with filing the annual HMDA report.
Maintain updated knowledge on lending related laws & regulations by monitoring industry publications and communicate new developments as possible.
Assist with the development and update of compliance policies and procedures.
Advise business units and personnel on compliance risks & controls in their on-going and proposed business activities.

That is a fairly good explanation of what is expected from me. I have been reviewing files and finding issues which I then research but that is as far as I have gotten.

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#2002942 - 03/20/15 03:38 PM Re: Loan Quality Control stressedout
raitchjay Online
Power Poster
Joined: Oct 2009
Posts: 9,088
OK
Sign up for BOL's newsletter and also with the CFPB for their bulletins. Download the "HMDA: Getting It Right" (GIR) from the ffiec website. Get a basic knowledge of as many applicable regs as possible, but B, C, X, Z, FCRA, and flood rules would be a good place to start. Find some work papers (or design your own) that give you a basis for what you are looking for as you review loan files. Just a start, but those are my ideas.
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#2005017 - 03/30/15 05:55 PM Re: Loan Quality Control stressedout
Rocky P Online
Power Poster
Joined: Jun 2003
Posts: 7,650
Florida
Sign up for a basic compliance school as soon as possible! ICBA has a good one for compliance in smaller institutions, and I believe it is in April. You will be covering the waterfront, and need a quick jolt of learning, plus continued support.

Curricula and price attached. (It covers both deposit and loan)
http://www.icba.org/events/eventdetail.cfm?EventID=352739&navItemNumber=60102
Last edited by Rocky P; 03/30/15 05:59 PM. Reason: added link
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#2005166 - 03/31/15 01:28 PM Re: Loan Quality Control stressedout
Ishmael Offline
100 Club
Joined: Feb 2011
Posts: 232
Pequod
I'm just over 4 years into compliance and the best experience I've gotten so far was at a small savings bank. The things that have worked for me are:
-to join a state bankers type association and try to attend training events.
-sign up for as many relevant periodic blogs/e-mails as you can (some of which were ABA Dodd-Frank Tracker, Trinovus, Jack Holzknecht's blog, NAFCU compliance blog/PolicyWorks, Consumer Compliance Outlook, ABA Common Sense Compliance, cBanc).
-attend as many free on-point webinars as possible.
-use and participate on BankersOnline (I need to contribute more).
-gather and read Bank policies.
-for me, start creating your own compliance library (for HMDA, that might include the GIR, the FFIEC FAQ's, and then various regulator guidances; for FCRA, the law, the 40 Years of Experience book, Tatelbaum letters, Stinneford letter). Nothing you buy off the shelf is better.
-and start somewhere. For me, HMDA was a good place to start, because it lent itself to quarterly monitoring, led into ECOA/Reg. B, commercial loan applications, FCRA permissible purpose, CRA, and Fair Lending.

Good luck!

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#2010873 - 04/29/15 11:43 AM Re: Loan Quality Control stressedout
biz Offline
Diamond Poster
Joined: Nov 2005
Posts: 1,032
Midwest
And sign up for . . . and take the free ABA frontline training classes.

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