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. This role demands extreme attention to detail, outstanding quality, excellent customer service, and adherence to all bank policies and procedures. This position requires in-office work; 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, and monitor rate lock and closing dates.
• Generate and distribute up-front disclosure packages to applicants via 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 for each scenario.
• Generate and distribute preliminary Closing Disclosures 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, and maintain 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 willingly perform 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, with the ability to display independent judgment.
• Strong interpersonal skills, adaptability, and flexibility in a fast-paced environment.
• Proficiency with office equipment, including personal computers, fax, scanner/copier, phone systems, and software applications (spreadsheets, databases, presentation tools).

Pay

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

Schedule

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

Benefits

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

• 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.
• Life insurance (basic and voluntary).
• Short-term disability insurance.
• 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.