HMDA and CRA Specialist

Job Summary
The HMDA and CRA Specialist is responsible for manually collecting and validating data related to the Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA), and for creating and maintaining adverse action files in compliance with Regulation B. This role involves reviewing loan files and supporting documentation to extract accurate regulatory data, ensure proper reporting, and support fair lending compliance. The Specialist collaborates with Compliance, Loan Operations, and Lending staff to support the bank’s regulatory obligations and prepare for audits or exams.

Primary Responsibilities
HMDA and CRA Data Collection & Validation

• Manually review loan documents, credit memos, and supporting materials to collect required HMDA and CRA data fields.
• Input and validate data in internal tracking systems to ensure accuracy and consistency with regulatory definitions.
• Identify discrepancies or missing data and follow up with appropriate departments to correct errors.
• Maintain complete and organized documentation to support audit trails and internal reviews.

Adverse Action File Creation

• Create adverse action files for denied, withdrawn, or incomplete credit applications in accordance with Regulation B.
• Prepare and document appropriate adverse action reasons based on credit reports, application details, and underwriting notes.
• Ensure adverse action notices are accurate, complete, and issued in a timely manner.
• Track adverse actions and assist in identifying trends or inconsistencies for reporting and monitoring purposes.

CRA Support
• Assist in identifying CRA-eligible loans, services, and community development activity through manual documentation review.
• Maintain accurate logs of activity across assessment areas for CRA reporting and analysis.
• Support the CRA Officer with performance analysis and documentation preparation for regulatory reviews.

Compliance Support
• Prepare internal summaries and assist with documentation requests for audits and exams.
• Remain current on applicable HMDA, CRA, and Regulation B requirements to ensure accurate and compliant practices.

Qualifications
• Associate or Bachelor’s degree in Business, Finance, or a related field, or equivalent relevant experience.
• Minimum of 2 years of experience in banking, lending, loan operations, or compliance.
• Strong understanding of Regulation B, HMDA, and CRA data fields and regulatory requirements.
• Detail-oriented with the ability to analyze and interpret file documentation manually.
• Proficiency in Microsoft Excel; ability to manage and track data accurately.
• Strong written and verbal communication skills.
• Ability to work independently and prioritize multiple tasks.
 

Preferred Qualifications
• Strong working knowledge of HMDA requirements, including understanding of required data fields, reporting thresholds, and common data accuracy issues.
• Familiarity with CRA regulatory requirements, including how to identify and document CRA-eligible loans, investments, and services.
• Prior involvement in HMDA or CRA audits, internal reviews, or regulatory exams.
• Experience using compliance tools or systems for tracking HMDA and CRA data (e.g., Excel-based logs, Rata Comply, LoanVantage).