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Mortgage Disclosure Specialist

2 months ago


Downers Grove, United States Old Second National Bank Full time
Job DescriptionJob Description

Who We Are

At Old Second, you're first For more than 150 years, Old Second has consistently put businesses and individuals throughout the Chicago area first, and we're only getting started.

With great employees we've grown from a single location in the back of a general store to 50 locations and over $6 billion dollars in assets. At Old Second we embrace values that foster an environment of community and growth. Recently, we've been voted a Forbes Best-In-State Bank for Illinois by our customers. Be a part of something big as we continue our growth story together

Position Overview

Under the general supervision of the Mortgage Operations Manager, the Mortgage Disclosure Specialist verifies that mortgage disclosure packages comply with applicable disclosure regulation as well as investor and agency disclosure requirements. Specifically, the role reviews mortgage files for accuracy and completeness, monitors the disclosure reports for new requests; as well as preparing and delivering disclosure packages to borrowers. The role maintains effective communication with members, business partners, and peers to uphold Old Second commitment to quality service.

This is a hybrid position with work onsite in Downers Grove and some remote work availability.

Essential Job Functions

  • Acts as a subject matter expert and first contact for escalation for Loan Estimates
  • Assists in processing more complex customer application/requests
  • Processes Initial Disclosures
  • Audits, verifies and ensures that mortgage loan disclosure packages are accurate and comply with prescribed regulation timelines at time of delivery to Borrowers
  • Using document checklists ensures that each disclosure package contains all expected disclosure documents and all forms are completed accurately and in totality
  • Ensures that disclosure packages comply with all applicable federal, state, and agency guidelines impacting residential mortgage originations
  • Communicates with production team members to validate fees associated with the presented mortgage transaction to ensure disclosures are delivered with the correct fee amounts
  • Reviews loan summary forms, loan officer questionnaires and other relevant documents to identify associated fees paid by the borrower
  • Performs minor corrective action to fees when necessary
  • Monitors pipeline daily to ensure initial and re-disclosure packages are distributed to members within regulated timeframes
  • Monitors Disclosure Desk e-mail in box hourly to support all team members within prescribed service level agreement timeframes
  • Ensures receipt of application fee, orders appraisal, title and condo questionnaires when applicable
  • Complies with regulations
  • Addresses customer services issues according to established parameters, escalating as required
  • Analyzes data and information to provide insights and recommendations
  • Supports change management of varying scope and type; tasks typically focused on execution and sustainment activities
  • Resolves problems as required to support effective business operations
  • Identifies and recommends opportunities to improve operational efficiencies while still meeting service level standards
  • Supports the development of tools and delivery of training focused on delivering business results
  • Integrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting

Minimum Requirements

High School diploma or equivalent and two years of previous mortgage experience; or equivalent combination of education and experience.

Competencies

  • Experience working with Initial disclosures including loan estimates and closing documents.
  • Knowledge and understanding of mortgage loan products
  • Time management skills working in a fast paced, high-volume environment
  • Excellent verbal & written communication skills
  • Excellent customer service skills
  • Highly organized, dependable, detail oriented, and analytical with well-developed problem-solving skills
  • Highly collaborative; works well independently and as a member of a team
  • Maintains excellent attitude conducive to fostering teamwork

Thanks for considering Old Second