Processing & Disclosure Specialist

Deerwood Bank is a growing, privately-owned, community bank with 14 locations in Minnesota. This position is available in its Baxter, Deerwood, Mendota Heights, or St Michael, MN branch and requires in-office work; remote work is not available.

About the role

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. The role demands extreme attention to detail, outstanding quality, excellent customer service, and strict adherence to all bank policies and procedures.

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 for all types of mortgage lending products
• 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 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 applicable banking standards while maintaining meticulous records for audit purposes
• Adhere to HMDA regulations
• 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
• Perform all other duties and projects 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 flexibility
• Ability to work in a fast-paced environment while maintaining a high degree of accuracy
• Proficiency with office equipment, including personal computer, fax, scanner/copier, printer, phone system, and software applications (spreadsheets, databases, presentation software)

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

Benefits are available to employees working 30 or more hours per week on the first of the month following date of hire.

• Medical insurance, including virtual telemedicine and mental health counseling
• Health Savings Account
• Flexible Spending Account (health, limited purpose health, and dependent care)
• Dental insurance
• Vision insurance
• Life insurance (basic and voluntary)
• Short-term disability insurance
• Long-term disability insurance
• Long-term care insurance
• Adoption Assistance Program
• Employee Assistance Program
• 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