Processing & Disclosure Specialist

Deerwood Bank; Deerwood (MN); On-site; USD 71,635,000 - 85,962,000; Full time

Benefits offered by this job

Medical Insurance

Health Savings Account

Vision Insurance

401(k)

Job summary

Deerwood Bank, a growing Minnesota community bank, seeks a Residential Real Estate Loan Processor and Disclosure Specialist to work in its Baxter, Deerwood, Mendota Heights, or St Michael, MN branches. You will process real estate loan files, prepare disclosures, and ensure compliance with TILA and HMDA while delivering excellent customer service.

The role requires 2+ years of mortgage processing experience, strong attention to detail, and collaboration with loan officers and underwriters.

Qualifications

• 2+ years of mortgage loan processing experience in a high-volume environment.
• Experience with Encompass mortgage loan originations software is preferred.
• Strong customer service and teamwork skills.
• Ability to prioritize and make quick, accurate decisions.

Responsibilities

• Review and process loan documents to ensure accuracy and regulatory compliance.
• Input data into mortgage systems and prepare underwriting documentation.
• Collaborate with underwriters and loan officers to maintain workflow.
• Monitor disclosures timing and ensure accurate, compliant documentation.
• Generate closing disclosures and manage UCD uploads.
• Maintain HMDA and TILA compliance and meticulous records.
• Build positive relationships with customers and coworkers.
• Perform other Mortgage Department duties as needed.

Skills

Mortgage processing

Encompass

Customer service

Attention to detail

Tools

Encompass software

Job description

Deerwood Bank is a growing, privately-owned, community bank with 14 locations in Minnesota and 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. Responsible for preparing and delivering required disclosures accurately, timely, and within compliance of all applicable laws and regulations for all Mortgage and Home Equity loan products. Precise data entry of customer information. Daily collaborations with loan officers, underwriters, loan funders and servicing Team. This position demands extreme attention to detail with outstanding quality, excellent customer service, and adherence to all bank policies and procedures.

This position is required to work in the office. Remote work is not available.

Functions, Duties and 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 the delivery of disclosures to ensure they are delivered within appropriate timeframes based on the method of delivery for all types of mortgage lending products based on the regulatory timing requirements and customer expectations
• 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 as well as producing the 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
• Must stay current on all applicable product guidelines, processes, government regulations, and industry compliance best practices
• Must build and maintain positive relationships with all customers, potential customers, co-workers, and investors
• Willingly perform all other duties and projects as assigned as well as providing back up to other positions within the Mortgage Department
• Strong organizational skills with attention to detail to ensure error-free transactions handling.

Knowledge, Skills and Abilities:

• 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.
• Provide excellent customer service and work in a team environment
• Ability to prioritize and make ‘on-the-spot’ decisions that impact the customer, weighing customer satisfaction with exposure to loss or fraud
• In-depth knowledge of mortgage process
• Effectively operate all office equipment required to support this position. To include but not limited to personal computer, strong keyboarding skills, fax, scanner/copier, printer, phone system, all applications, spreadsheets, database, and presentation software necessary.
• Strong interpersonal skills, attention to detail and positive attitude
• Excellent oral and written communication skills. Display independent judgement.
• Demonstrate excellent organization, prioritize workflow, adaptability, and flexibility
• Ability to work in a fast-paced environment and be a quick thinker and learner while maintaining a high degree of accuracy

Work Schedule:

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

Hiring Pay Rate:

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

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)
• Vision insurance
• Life insurance (basic and voluntary)
• Short-term disability insurance
• Long-term disability insurance
• Adoption Assistance Program
• Employee Assistance Program
• PTO
• 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