Disclosure Specialist I

First Merchants Bank; Royal Oak (MI); On-site; USD 38,000 - 52,000; Full time

Benefits offered by this job

Base Pay PLUS Bonuses

Medical, Dental and Vision Insurance

401k

Health Savings and Flexible Spending

Job summary

First Merchants Bank is seeking a Disclosure Specialist I to join our team. This role ensures disclosure packages are prepared accurately and delivered to consumers in accordance with TRID and other regulations.

Responsibilities include reviewing data in the LOS, delivering disclosures via ESIGN or mail, and updating records to reflect disclosures. Ideal candidates will have a High School diploma or GED and at least one year of industry experience.

Qualifications

• High school diploma or GED required.
• Minimum of 1 year of industry experience.

Responsibilities

• Prepare and review initial disclosure packages including the LE.
• Review disclosure data entered within the LOS.
• Ensure proper delivery of disclosure packages via ESIGN, in person, or mail.
• Update the LOS to document disclosures generated and provided.
• Prepare and review daily reports to confirm disclosures processed timely.
• Review files submitted for re-disclosure for regulatory compliance.
• Determine if a bona fide changed circumstance occurred with processing, underwriting and closing.
• Review fee changes for TRID changed circumstance compliance and tolerances.
• Monitor and provide revised LEs within 3 days of a changed circumstance and update LOS.
• Run automated compliance testing and escalate negative results.

Skills

TRID compliance

Disclosure packages

ESIGN delivery

LOS data entry

Regulatory compliance

Education

High School Diploma or GED

Tools

LOS

Job description

First Merchants Bank is seeking a Disclosure Specialist I to join our team! This position will support daily operations by ensuring disclosure packages are completed accurately and provided to consumers in adherence with TRID (TILA-RESPA Information Disclosure) and additional federal, state and local disclosure regulations.

As part of this role you will:

1. Prepare and review initial disclosure packages including the LE (Loan Estimate).
2. Review disclosure related data entered within the LOS (Loan Origination System).
3. Ensure the proper delivery of the disclosure package to consumers via ESIGN, in person, or mail.
4. Update the LOS to document that the required disclosures were generated and provided to the consumer.
5. Prepare and review daily reports to confirm all disclosures have been processed timely.
6. Review files submitted for re-disclosure in adherence to regulatory compliance requirements and internal company policies and procedures.
7. Determine if a bona fide changed circumstance occurred by working with the processing, underwriting, and closing departments to determine the cause and timing of the changed circumstance.
8. Review fee changes to determine compliance with TRID changed circumstance and tolerance requirements.
9. Monitor and provide revised LEs within three (3) days of a changed circumstance (including rate locks) and update the LOS to document the changed circumstance and LE delivery timing.
10. Run automated compliance testing and escalates negative results to the Regulation and Compliance Department.

To be successful in this position, we require the following:

• High School Diploma or equivalent (GED).
• A minimum of one (1) year industry experience.

First Merchants offers the following:

• Base Pay PLUS Bonuses
• Medical, Dental and Vision Insurance
• 401k
• Health Savings and Flexible Spending Accounts
• Vacation/Sick Time
• Paid Holidays
• Paid Parental Leave
• Tuition Reimbursement
• Additional Benefits

A little about us:

First Merchants is guided by a genuine philosophy of being a meaningful place to work and having a prosperous impact across all walks of life throughout the communities we serve, including consumers, businesses and other organizations. Our Vision, Mission and Team statement reflect and reinforce that authentic service philosophy.

Our Vision is:

To enhance the financial wellness of the diverse communities we serve.

Our Mission is:

To be the most responsive, knowledgeable, and high-performing financial organization for our clients, teammates, and shareholders.

Our Team:

"We are a collection of dynamic colleagues with diverse experiences and perspectives who share a passion for positively impacting lives. We are genuinely committed to attracting and engaging teammates of diverse backgrounds. We believe in the power of inclusion and belonging."

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

This employer is required to notify all applicants of their rights pursuant to federal employment laws.

For further information, please review the Know Your Rights notice from the Department of Labor.