CRA and HMDA Loan Identification and Compliance Training

ChoiceOne Bank is seeking to fill a Commercial Loan Documentation Specialist position, according to a job posting listed on the Paylocity platform. The role focuses on the administrative and regulatory oversight of the bank’s commercial lending portfolio, specifically emphasizing compliance with federal lending mandates.

The position requires the timely identification of loans subject to the Community Reinvestment Act (CRA) and the Home Mortgage Disclosure Act (HMDA). These federal regulations are designed to ensure that financial institutions meet the credit needs of the communities in which they operate and to provide data to identify potential discriminatory lending patterns.

Regulatory Compliance and Reporting

A primary responsibility of the role involves the management of CRA loans, which must be entered into the CRA Relief system at least quarterly. This cadence ensures the bank maintains accurate records of its community lending efforts for regulatory review.

The HMDA requirement involves the collection and reporting of detailed information about mortgage applications and originations. This data is used by regulators to monitor compliance with the Fair Housing Act and the Equal Credit Opportunity Act.

Operational Duties

Beyond regulatory reporting, the Commercial Loan Documentation Specialist is tasked with the training of new employees regarding commercial loan processes. This internal education is intended to standardize the documentation and processing of business loans across the institution.

The role serves as a critical link between the bank’s commercial lending activities and its legal obligations to federal regulators, ensuring that documentation is complete and that reporting deadlines are met.