Mortgage Disclosure Specialist

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Position Summary:

Prepares disclosures for all secondary market and portfolio (in-house) mortgages and reviews previously issued initial LE documents and subsequent COCs for signature by the client. Performs a preliminary review of each loan file for accuracy and completeness and verifies that the loan has met all TRID compliance requirements and handles preliminary review of the loan file for accuracy and completeness. Responsible for mailing notices and maintaining logs for Adverse Actions on denied loans.

Major Duties and Responsibilities:

Core Values & Culture Commitment:

• Upholds SmartBank Core Values and Core Purpose.
• Adheres to and embraces the SmartBank Way by Acting Smart, Looking Smart and Being Smart.

Disclosure Preparation & Compliance

• Manage an average monthly disclosure request pipeline of 60-100 working requests.
• Prepares and reviews initial LE documents and subsequent COC requests for accuracy prior to releasing to Mortgage Loan Officer and/or client.
• Verifies documents necessary for disclosures. Verifies third party charges (title fees, appraisal, inspections, flood, credit and product requirements, etc.)
• Verifies amounts held for escrow for property taxes and insurance.
• Verifies that product code, rate, and lock expiration dates, etc. are accurate on all documents.
• Prepares disclosures for delivery to Borrower via e-disclose or if in person or mail delivery sends to Mortgage Loan Officer for them to deliver to client.
• Prepares initial LE disclosures and COCs through MortgageBot and DocMagic softwares for secondary market and portfolio (in-house) residential mortgages.
• Works with Mortgage Loan Officers and processors to ensure disclosures are prepared and disclosed to the client in good faith based on the information provided at the time of issuance of disclosures.
• Answers questions regarding the preparation, requirements, and timeline for disclosures to be within compliance.
• Prepares the initial LE disclosures and COCs within the 3-day requirement per TRID guidelines. Ensures fees are disclosed accurately and in good faith and delivered to the client within the 3-day allotment.
• Monitors the active loan pipeline multiple times a day to determine new applications and/or any changes made that will require a disclosure to be issued.
• Uses office computers for data input and other activities. Maintains daily, weekly, and monthly reports for disclosures due within the 3-day timeline per TRID guidelines.
• Prepare and issue daily reports regarding the TRID Disclosures due.
• Some travel to other locations may be required, as needed, for training purposes and Mortgage Meeting requirements.

Pipeline Monitoring & Adverse Action Handling:

• Works with Mortgage Loan Officers, processors, loan setup, lock desk, title, and insurance companies, etc., to request specified documents, such as receipt for payment of outstanding property taxes or HOA dues.
• Checks documents for proper vesting, legal descriptions, items due, receipts for payments, closing dates and signatures.
• Monitor the loan pipeline daily for incomplete files, print the Notice of Incompleteness, adverse actions, and mail to the Borrower, as applicable, add notes to the system for date mailed, after 10 days with no response from Borrower archive loan.
• Mail incomplete notice and adverse actions to Borrowers that have received a denial within the required timeline.
• Maintain a log regarding the adverse actions mailed to borrowers for denied files.

Operational Support:

• Assist the Post Closing Team / Closing Team as a back-up and as needed with the preparation of closing packages, fundings, receipt of closed loan packages, reviewing those documents for accurate completion.
• Uploading the Closed Loan Packages to the file and clearing any tasks required with the post-closing team role.
• Review and file trailing documents for closed loan files as needed for the Post Closing Team and deliver to the Investor.
• Prepares closing packages (through MortgageBot and DocMagic software) for secondary market and portfolio (in-house) residential mortgages.
• Prepares Construction Loan Extension Documents, Payment Recast documents and Construction Perm Float Down Documents as needed and required.
• Prepares wires for funds needed delivered to Title Companies for funds due at closing on behalf of SmartBank
• Works with borrowers, realtors and title companies to request specified documents, such as receipt for payment of outstanding property taxes or HOA dues.
• Assist the Mortgage Operations Manager in maintaining the accuracy of the Disclosure Job Aid and assist with any training needed for new or existing associates on the Mortgage Team.
• Performs a variety of clerical duties requiring knowledge of departmental procedures.
• Performs other duties as assigned.

Position Requirements and Qualifications:

Education and Experience:

• High school diploma or equivalent
• Two years of recent experience in secondary market and in-house portfolio disclosures and documentation preferred.

Training Requirements (licenses, programs, or certificates):

• Ongoing regulatory and compliance training is required.

Knowledge, Skills, and Abilities:

• Excellent customer service skills.
• Knowledge of FHA, VA, RD, THDA and Construction loans preferred.
• Ability to apply knowledge and sound judgment in decision-making using established guidelines.
• Proficient level of computer competency including Microsoft Windows (Word, Excel, Outlook), typing and ten-key proficiency.
• Strong written and oral communication skills.
• Detail orientated, good organizational skills with the ability to prioritize and multi-task.

Work Conditions:

• Able to routinely stand, sit, bend and stoop.
• Frequently and regularly required movements using wrists, hands, and/or fingers.
• Average, ordinary, visual acuity necessary to prepare inspect documents or products and operate machinery.
• Ability to hear average or normal conversations and receive ordinary information.
• May be required to travel to various branch locations.
• Ability to work under pressure and meet deadlines.
• Ability to work overtime hours on a regular basis is required.