Mortgage Loan Opening and Disclosure Specialist

Mortgage Loan Opening And Disclosure Specialist

A Mortgage Loan Opening and Disclosure Specialist plays a crucial role in the mortgage lending process. Their primary responsibilities typically include:

Key Responsibilities

• Loan Application Review:
  • Reviewing loan applications for completeness and accuracy.
  • Verifying borrower information and supporting documentation, such as income and credit history.
• Mortgage Disclosure Preparation:
  • Ensuring all required disclosures are accurately prepared and provided to borrowers in compliance with regulations (e.g., Truth in Lending Act, Real Estate Settlement Procedures Act).
• Collaboration with Teams:
  • Working closely with loan officers, underwriters, and compliance teams to ensure a smooth loan opening process.
  • Coordinating with third-party vendors (e.g., appraisers, title companies) as needed.
• Regulatory Compliance:
  • Staying up to date with changes in mortgage regulations and ensuring all processes align with current laws.
• Documentation:
  • Maintaining accurate records of all disclosures and communications.
  • Preparing necessary documentation for loan origination and compliance audits.

Skills Required

• Attention to Detail: Thoroughness in reviewing loan documents and regulatory requirements.
• Communication Skills: Ability to effectively explain financial concepts to borrowers.
• Organizational Skills: Capability to manage multiple loan applications simultaneously.
• Knowledge of Mortgage Products: Familiarity with various mortgage products and Regulatory Compliance requirements.
• Previous experience in mortgage banking/lending is required.

This is a full-time, in-office position.