Real Estate Loan Processing & Disclosure Specialist

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Full Time Clerical Baxter, MN, US

2 days ago Requisition

Salary Range: $25.00 To $31.00 Hourly

Deerwood Bank is a growing, privately-owned, community bank with 14 locations in Minnesota and is hiring a Residential Real Estate Loan Processor and Disclosure Specialist to work in its Waite Park or Deerwood, MN branch. This position is responsible for timely and independent processing of real estate loan files; preparing and delivering required disclosures accurately, timely, and within compliance of all applicable laws and regulations for all Mortgage and Home Equity loan products;

and precise data entry of customer information. This position will have daily collaborations with Loan Officers, Underwriters, Loan Funders and Servicing Team. This position demands extreme attention to detail with outstanding quality, excellent customer service, and adherence to all bank policies and procedures.

Functions,

Duties and Responsibilities:

• Review and process loan documents, including FNMA (Fannie Mae) guidelines, contracts and disclosures to ensure accuracy and compliance with TILA regulations
• Handle loan origination tasks such as inputting data into mortgage systems, verifying borrower information and preparing necessary documentation for underwriting
• Collaborate with underwriters and loan officers to facilitate smooth processing workflows
• Monitor the timing of the delivery of disclosures to ensure they are delivered within appropriate time frames based on the method of delivery for all types of mortgage lending products based on the regulatory timing requirements and customer expectations
• Ensure disclosures are compliant and accurate
• Monitor rate lock and closing dates
• Generate and distribute up front disclosure packages to applicants for signatures via regular mail, overnight delivery, email, or e-sign per the direction of the licensed loan originator
• Ensure that the fees entered are appropriate for the program type and geographic area of the loan
• Validate the compliance of change in circumstance scenarios and re-disclosures as well as review the calculated fees for each change in circumstance scenario
• Generate and distribute preliminary Closing Disclosure to applicants for signatures as well as producing the closing documents
• Upload Closing Disclosures for all secondary market loans to the Fannie Mae and Freddie Mac Loan Delivery System for the Uniform Closing Dataset (UCD) program
• Ensure all transactions comply with federal regulations such as TILA and applicable banking standards while maintaining meticulous records for audit purposes
• Adhere to HMDA regulations
• Must stay current on all applicable product guidelines, processes, government regulations, and industry compliance best practices
• Must build and maintain positive relationships with all customers, potential customers, co-workers, and investors
• Willingly perform all other duties and projects as assigned as well as providing back up to other positions within the Mortgage Department

Regulatory Compliance Requirements:

• Incumbent will be responsible for meeting the requirements for all statutes/regulations pertaining to or governing his/her position. These include TRID, HMDA, ECOA, Fair Housing and Fair Lending, among others.

Knowledge, Skills and Abilities:

• 2+ years of mortgage experience in a high-volume fast-paced environment required
• Provide excellent customer service and work in a team environment
• Ability to prioritize and make ‘on-the-’ decisions that impact the customer, weighing customer satisfaction with exposure to loss or fraud
• In-depth knowledge of mortgage process
• Effectively operate all office equipment required to support this position, which includes computer, fax, scanner/copier, printer, phone system
• Proficient with Microsoft applications (i.e., Word, Excel, SharePoint, PowerPoint, Outlook, etc.)
• Strong interpersonal skills, attention to detail and positive attitude
• Excellent oral and written communication skills.
• Display independent judgement.
• Demonstrate excellent…