Disclosure Specialist

Two Harbors Investment•Coppell, TX

About The Position

The Disclosure Specialist will evaluate all information supplied by Mortgage Consultant to ensure loans are compliant with established Regulatory guidelines and procedures.This position performs all functions related to the production of initial TRID Disclosure documents as well as the preparation and delivery of Change of Circumstance redisclosure documents related to fee increases and rate lock adjustments.

Requirements

2+ years of experience in a mortgage regulatory position.
Knowledge of consumer regulations—RESPA, TILA, TRID, HMDA, ECOA and any and all Fair Lending laws.
Proficiency in Encompass Software preferred and the ability to readily learn and operate effectively in other business technology applications required.
Ability to work overtime when needed.
Strong organization and time management skills as well as attention to detail.
Knowledge of conventional and government loan programs.
Strong analytical skills and ability to use independent judgement and discern the practical application of regulatory and legal requirements.
Advanced working knowledge of Microsoft Word and Excel.
Maintain sense of urgency.
Maintain a level of professionalism when communicating with external clients/parties.
Ability to effectively communicate across multiple departments-originations, underwriting, secondary, processing and closing.
Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the public.

Responsibilities

Ensure correct template is chosen for applicable State and loan program.
Review disclosures for accuracy from the information provided by the Loan Officer on the new Uniform Residential Loan Application to ensure a valid application has been received and all 6 pieces of RESPA information are present (1. Name, 2. Income, 3. Social Security Number, 4. Property address, 5. Estimate of property value and 6. Mortgage loan amount sought).
Ensure all Disclosure screens in Encompass are completed.
Ensure HDMA information is completed properly.
Ensure all applicable costs are applied to the loan file.
Prepare RESPA-TILA- TRID disclosures to our borrowers within the Regulatory required timeframe.
Maintain an understanding of the loan products offered to ensure specific guidelines are followed and specific disclosures included.
Adhere to all Regulatory Requirements around the disclosure process - from application date and 3-day Regulatory Requirement.
Daily pipeline management of loan files through Encompass.
Maintain an excellent level of Customer Service.
Prepare the Change of Circumstance (COC) process to prepare explanation letter and update loan estimate with any possible required disclosures in an efficient manner and within three days of receipt of change documentation.
Communicate with secondary to assure accuracy of fees associated with rate lock and/or rate lock extensions.
Communicate with processing and Loan Officer to redisclose increased charges for credit report, appraisal, title, etc.
Communicate with closing to ensure the closing date is not impacted by the redisclosure of the loan estimate.
Communicate any concerns of a Regulatory nature to the Supervisor.
Review the Mavent Compliance document for any errors which would include the Qualified Mortgage and Ability to Repay requirements.
Address any concerns applicable or escalate to Manager.
Maintain a high level of awareness and knowledge of regulatory compliance requirements and assist in identifying significant compliance risks.
Adhere to Round Point’s commitment to regulatory compliance.