Upstart
Lead Product Counsel, Home Lending
Job Summary
The Lead Product and Regulatory Counsel - Home Lending at Upstart is responsible for developing legal and regulatory frameworks for the company's home lending products, including HELOCs and purchase loans. The role involves providing proactive legal advice on federal and state laws related to consumer financial products, analyzing new laws and regulations, and ensuring compliance across product design and disclosures. Candidates should have a JD, at least six years of relevant experience, and in-depth knowledge of consumer protection laws such as FCRA, RESPA, TILA, and GLBA. The position offers remote flexibility within the United States, along with comprehensive benefits and competitive salary.
Required Skills
Benefits
Job Description
About Upstart
Upstart is the leading AI lending marketplace partnering with banks and credit unions to expand access to affordable credit. By leveraging Upstart's AI marketplace, Upstart-powered banks and credit unions can have higher approval rates and lower loss rates across races, ages, and genders, while simultaneously delivering the exceptional digital-first lending experience their customers demand. More than 80% of borrowers are approved instantly, with zero documentation to upload.
Upstart is a digital-first company, which means that most Upstarters live and work anywhere in the United States. However, we also have offices in San Mateo, California; Columbus, Ohio; and Austin, Texas.
Most Upstarters join us because they connect with our mission of enabling access to effortless credit based on true risk. If you are energized by the impact you can make at Upstart, we’d love to hear from you!
As the Lead Product and Regulatory Counsel - Home Lending at Upstart, you will play a key role in helping develop new products to serve the home lending market and establishing the legal and regulatory framework for Upstart’s home lending platform.
Position Location - Remote (United States)
Travel Requirements - This team has regular on-site collaboration sessions. These occur 1-3 times per quarter at the San Mateo, CA office. If you need to travel to make these meetups, Upstart will cover all travel related expenses.
How you’ll make an impact:
- Build strong, trusted relationships across the organization
- Serve as a core member on the Home Lending leadership team as we build, launch, and scale new loan products such as HELOCs and eventually purchase loans;
- Provide prompt, proactive, practical legal advice cross functionally on the application of state and federal laws and regulations governing various consumer financial products offered via Upstart’s platform, including developing legal analyses and requirements documents for new products and features
- Advise product and engineering team on the design of new consumer product flows
- Provide advice and guidance on disputes and issues escalated from the Compliance team including, but not limited to, those related to mortgage advertising, underwriting, closing and servicing
- Analyze new laws and regulations and their applicability to Upstart’s lending platform
- Advise on internal and external consumer agreements, notices and disclosures
- Review internal policies and procedures to ensure compliance with applicable laws
What we’re looking for:
- J.D. degree with superior academic credentials and a state bar membership
- At least 6+ years of experience in a top-tier law firm, government, and/or an in-house legal dept with a banking and/or regulatory focus
- In-depth knowledge of federal and state home lending and consumer protection laws and regulations, including FCRA, RESPA, TILA, GLBA, UDAAP, EFTA, and ESIGN
- Background with mortgage fair lending issues arising under FHA, ECOA, as well as HMDA, CRA, and state and federal civil rights laws
- Strong communication skills with a demonstrated ability to effectively and proactively provide quick, concise, and practical legal advice
- Excellent judgment with demonstrated decision-making capability while dealing with legal, regulatory and business issues involving competing interests
- Experience working for or with a fintech or proptech company, preferably in a vertically integrated company covering loan origination, title, and real estate preferred
At Upstart, your base pay is one part of your total compensation package. The anticipated base salary for this position is expected to be within the below range. Your actual base pay will depend on your geographic location–with our “digital first” philosophy, Upstart uses compensation regions that vary depending on location. Individual pay is also determined by job-related skills, experience, and relevant education or training. Your recruiter can share more about the specific salary range for your preferred location during the hiring process.
In addition, Upstart provides employees with target bonuses, equity compensation, and generous benefits packages (including medical, dental, vision, and 401k).
Upstart is a proud Equal Opportunity Employer. We are dedicated to ensuring that underrepresented classes receive better access to affordable credit, and are just as committed to embracing diversity and inclusion in our hiring practices. We celebrate all cultures, backgrounds, perspectives, and experiences, and know that we can only become better together.
If you require reasonable accommodation in completing an application, interviewing, completing any pre-employment testing, or otherwise participating in the employee selection process, please email [email protected]
Upstart
A lending platform using AI to provide personal loans and credit solutions with a focus on fair and fast approvals.
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