Job Title: Quality Control Specialist – Regulatory Compliance (Reg B & TRID)
Location: Hybrid
Reports To: Quality Control Manager
Employment Type: Full-Time
About Granite Bank:
Granite Bank is one of the fastest-growing banks in Minnesota! We’re a locally owned community bank, and we’re growing our team of people on a mission to help as many people as possible achieve their financial and homeownership goals. We live by our core values: accessibility, agility, transparency, family feel, and empowerment. Whether it’s expanding our product line or having fun company events, we’re prepared to adapt to an ever-changing industry while keeping our people first. Come join us!
Position Summary:
The Quality Control Specialist is responsible for monitoring loan pipelines to ensure timely adherence to Regulation B (Reg B) and TILA-RESPA Integrated Disclosure (TRID) requirements. This role includes tracking incomplete applications, sending out required notices, processing withdrawn and denied files, and ensuring compliance with application triggers under federal lending regulations. The Quality Control Specialist works closely with loan officers, processors, and compliance teams to mitigate risk and maintain regulatory adherence.
Key Responsibilities:
Pipeline Management: Regularly review loan application pipelines to ensure compliance with Reg B timelines for adverse action and incomplete applications.
Reg B Compliance: Track incomplete applications, issue notices of incompleteness, and ensure timely processing of withdrawn and denied loan files in accordance with regulatory guidelines.
TRID Monitoring: Identify and track applications to determine when they trigger Loan Estimate (LE) and Closing Disclosure (CD) requirements, ensuring compliance with TRID timelines.
Adverse Action Notices: Review and send out adverse action notices for denied applications in compliance with fair lending regulations.
Documentation Review: Ensure proper documentation is in place for loan withdrawals, denials, and incomplete applications, maintaining audit-ready records.
Collaboration: Work with loan officers, processors, and underwriters to resolve compliance-related issues and obtain necessary documentation for timely loan decisions.
Reporting & Auditing: Maintain detailed records and generate compliance reports to track adherence to Reg B and TRID requirements, providing necessary updates to management.
Training & Support: Assist in educating team members on compliance with best practices, regulatory changes, and the importance of adhering to processing timelines.
Experience:
Preferred Qualifications:
This position plays a critical role in ensuring regulatory compliance, reducing risk exposure, and maintaining the integrity of the mortgage lending process.
Granite Bank is an Equal Opportunity Employer
Note: This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
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