Processing & Disclosure Specialist

About the role

Deerwood Bank is hiring a Residential Real Estate Loan Processor and Disclosure Specialist to work in its Baxter, Deerwood, Mendota Heights, or St Michael, MN branch. This position is responsible for timely and independent processing of real estate loan files, preparing and delivering required disclosures accurately and within compliance of all applicable laws and regulations for all Mortgage and Home Equity loan products. Daily collaborations with loan officers, underwriters, loan funders, and the servicing team are required. This position demands extreme attention to detail, outstanding quality, excellent customer service, and strict adherence to all bank policies and procedures. This is an in-office position; remote work is not available.

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 disclosure delivery to ensure compliance with regulatory timing requirements and customer expectations
• Ensure disclosures are compliant and accurate for all types of mortgage lending products
• Monitor rate lock and closing dates
• Generate and distribute up-front disclosure packages to applicants via regular mail, overnight delivery, email, or e-sign per the direction of the licensed loan originator
• Validate compliance of change-in-circumstance scenarios, re-disclosures, and calculated fees
• Generate and distribute preliminary Closing Disclosure to applicants and produce 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 HMDA, maintaining meticulous records for audit purposes
• Stay current on all applicable product guidelines, processes, government regulations, and industry compliance best practices
• Build and maintain positive relationships with customers, potential customers, co-workers, and investors
• Meet crucial deadlines and perform other duties as assigned, including providing backup to other positions within the Mortgage Department

Requirements

• 2+ years of mortgage loan processing experience in a high-volume, fast-paced environment (required)
• Experience working with Encompass mortgage loan originations software (strongly preferred)
• In-depth knowledge of the mortgage process
• Strong organizational skills with meticulous attention to detail to ensure error-free transactions
• Ability to prioritize and make on-the-spot decisions that balance customer satisfaction with exposure to loss or fraud
• Excellent oral and written communication skills
• Strong interpersonal skills, adaptability, and a positive attitude
• Proficiency in operating office equipment, including personal computers, fax machines, scanners/copiers, and phone systems
• Strong keyboarding skills and proficiency in spreadsheets, databases, and presentation software
• Ability to work in a fast-paced environment while maintaining high accuracy

Schedule

Monday - Friday, 8:00 AM - 5:00 PM, with some flexibility on start or stop times.

Pay

$25.00 - $30.00 per hour, depending on qualifications.

Benefits

• Medical insurance, including virtual telemedicine and mental health counseling
• Health Savings Account (HSA)
• Flexible Spending Account (FSA) for health, limited-purpose health, and dependent care
• Dental insurance
• Vision insurance
• Basic and voluntary life insurance
• Short-term and long-term disability insurance
• Long-term care insurance
• Adoption Assistance Program
• Employee Assistance Program (EAP)
• Paid Time Off (PTO)
• Paid Volunteer Time Off
• Paid holidays
• 401(k) with company match (eligible on the first of the month following 2 months of employment)
• Financial wellness education
• Free or reduced fees for banking products and services
• Employee Referral Bonus