Initial Closing Disclosure Analyst

NightOwl Consulting; Philippines; On-site; PHP 335,000 - 391,000; Full time

Benefits offered by this job

Above market salary

HMO with free dependent

Paid leave incentives

Performance based Incentives

Quarterly Company Events

In-depth training for career growth

Job summary

NightOwl Consulting is seeking an Initial Closing Disclosure Analyst in the Philippines. You will prepare and review ICDs to ensure accuracy, compliance with TRID and company policies, and timely disclosures for borrowers.

Collaborating with loan officers, processors, and underwriters, you will verify loan terms, fees, and documents, resolving discrepancies before final disclosures are issued.

Qualifications

• Analytical mindset with problem-solving能力.
• Strong organizational skills and workflow management.

Responsibilities

• Prepare and review Initial Closing Disclosure documents for accuracy and compliance.
• Ensure ICD is issued to borrowers at least three business days prior to closing per TRID rules.
• Review loan terms, fees, taxes, and data to reflect accurately in ICD.
• Collaborate with loan officers, underwriters, processors, and closing coordinators.

Skills

Analytical mindset

Strong organizational skills

Tools

Microsoft Office Suite

Job description

Initial Closing Disclosure Analyst

Department: Operations

Employment Type: Full Time

Location: Client

Compensation: ₱30,000 - ₱35,000 / month

Description

The Initial Closing Disclosure (ICD) Analyst plays a critical role in the mortgage loan process by preparing, reviewing, and verifying the accuracy of the Initial Closing Disclosures (ICD). This position ensures compliance with regulatory requirements and company policies, ensuring borrowers receive accurate and timely disclosures of loan terms and costs. The ICD Analyst collaborates with internal teams such as loan processors, underwriters, and closing officers to resolve discrepancies and ensure smooth and timely loan closings.

Key Responsibilities

Preparation of Initial Closing Disclosures

• Generate and review Initial Closing Disclosure (ICD) documents for accuracy and completeness in accordance with company policies and regulatory requirements.
• Ensure that the ICD is sent to the borrower at least three business days prior to closing, adhering to TRID (TILA-RESPA Integrated Disclosure) regulations.

Data Review and Verification

• Review loan terms, fees, taxes, and other financial data to ensure they are accurately reflected in the ICD.
• Cross-check all loan documentation to ensure alignment with underwriting conditions and customer information.
• Identify and resolve any discrepancies in loan documentation prior to issuing the ICD.

Compliance and Regulatory Adherence

• Stay up to date with federal and state mortgage regulations (including TRID) to ensure all disclosures meet legal standards.
• Maintain detailed records of all issued ICDs and monitor timelines to ensure compliance with the three-day disclosure rule.

Collaboration with Internal Teams

• Work closely with loan officers, underwriters, processors, and closing coordinators to ensure all necessary data is collected and accurately reflected in the ICD.
• Communicate with the loan origination team to address any borrower questions or concerns regarding the closing disclosure.

Quality Assurance and Reporting

• Conduct quality control checks on all ICDs before submission to ensure there are no errors or omissions.
• Report any issues or trends regarding ICD errors or compliance risks to management for further review.

Skills, Knowledge and Expertise

• Proficiency in Microsoft Office Suite (Excel, Word, Outlook).
• Analytical mindset with the ability to identify and solve problems quickly.
• Familiarity with loan documentation, including closing disclosures, loan estimates, and underwriting terms.
• Strong organizational skills and ability to manage workflow efficiently.

Benefits

• Above market salary
• HMO with free dependent
• Paid leave incentives
• Performance based Incentives
• Quarterly Company Events
• In-depth training for career growth