Initial Closing Disclosure Specialist

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 incentives

Quarterly company events

In-depth training for career growth

Job summary

NightOwl Consulting seeks an Initial Closing Disclosure Specialist to manage, review, and verify ICDs in the mortgage loan process. You will collaborate with loan processors, underwriters, and closing officers to ensure accurate disclosures and regulatory compliance.

The role requires attention to detail, data verification skills, and proficiency with Microsoft Office. This full-time position is based on client work, with competitive compensation and growth opportunities.

Qualifications

• Experience analyzing loan documents and disclosures.
• Ability to identify discrepancies in loan terms and data.
• Strong attention to detail and accuracy.

Responsibilities

• Prepare and review Initial Closing Disclosure (ICD) documents for accuracy and completeness.
• Ensure ICDs are provided to borrowers at least three business days before closing per TRID.
• Review loan terms, fees, taxes, and data for accuracy in ICDs; verify against underwriting conditions.
• Maintain regulatory compliance with TRID and federal/state mortgage rules; keep records and timelines.
• Collaborate with loan officers, underwriters, processors, and closers to gather data and resolve issues.
• Perform quality checks on ICDs before submission and report trends to management.

Skills

Analytical thinking

Problem solving

Organizational skills

Tools

Microsoft Office Suite

Job description

Initial Closing Disclosure Specialist

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