Position: Consumer Lending Disclosure Specialist (Subordination Typist) (req-1616)
Company: SITE Personnel Services, Inc
Job Location(s): West Allis, WI
Start Date: asap
Employment Term: Temporary
Employment Type Full Time
Hours per Week: 40+
Work Hours (i.e. shift): 8am-5pm
Starting Salary Range: $14-15/hr
Required Education: Bachelor's Degree
Required Experience: 5 to 20+ years
Required Security Clearance: None
Related Categories: Banking - General, Banking - Mortgage/Real Estate, Banking - Management
The Consumer Lending Disclosure Specialist is responsible for reviewing all Adverse Action Notices, Risk Based Pricing Notices, and 18-Day Letters for accuracy prior to mailing. This includes reviewing the credit bureau and credit decisions to ensure that the notices are generated with the proper credit bureau attributes and denial reasons. This position will comply with Federal regulations and company policy, prepare and send Good Faith Estimates, Early Truth and Lending Disclosures within 72 hours of receipt of the loan file, and record the date it was sent. This position will also be responsible for preparing FACT Act notices when applicable. Incumbent in this role should have knowledge of Reg. B., Reg. Z, and RESPA to ensure that all disclosures mailed are in compliance with these regulations.
Knowledge and Skills
High School diploma or equivalent required.
College classes are a plus
Bank lending knowledge and compliance knowledge.
Prior knowledge of Regulation B., Regulation Z., and RESPA preferred.
Ability to communicate effectively (both written and verbal) Ability to read credit bureaus and other documents regarding each loan request Ability to detect and solve problems Ability to work various computer applications (Origenate, ALSCOM, LaserPro, Microsoft Office).
(35%) Process Early Disclosures Efficiently and Accurately on LaserPro.
-Review all applicable consumer loan documentation related to the preparation of early disclosure packages. (Appraisals, title products, flood certifications, trusts, etc.) -Calculate closing costs applicable to each specific loan request for preparation of Good Faith Estimate.
-Identify “RESPA change circumstances” to determine if re-disclosure is required when loan term changes occur.
-Complete data entry and/or verification of all required system information by effectively utilizing standard business unit documentation software, i.e. LaserPro.
-Produce early disclosures that comply with regulatory requirements and contain correct loan terms, closing costs, lender credits, conditions, and collateral documentation by focusing on details and consistency.
-Provide verification of each early disclosure package prepared as well as verify early disclosure package of others in the department to ensure early disclosures are accurate and compliant.
-Prepare all supporting documentation to be mailed with early disclosure packages.
-Ensure early disclosure package is mailed within specified timeframe as designated by RESPA and Regulation Z.
-Track earliest possible closing date and waiting periods for all applicable loans.
(25%) Review and Mail All Notices to Customers
- Review Credit Bureau and denial reasons to ensure that Adverse Actions are printed correctly, and include correct denial reasons and credit bureau attributes.
-Ensure that Adverse Actions are mailed within required timeframe as specified under Regulation B.
-Process Early Disclosures for Denials that have been placed on hold.
-Review Credit Bureau and credit score factors to ensure that Risk Based Pricing Notices are printed correctly, and include the appropriate credit bureau information and key credit score information.
-Ensure that all Risk Based Pricing Notices are mailed within required timeframe as specified under Regulation V.
(20%) Customer Service
-Answers questions effectively and concisely
-Prompt and focused attention to needs of applicants and LOBs.
-Strong written and verbal communication
-Demonstrate patience, competence, and an empathetic demeanor
-Capable of handling and diffusing difficult situations with a confident and professional manner
-Take an energetic approach to understanding customers’ needs, meeting or exceeding their expectations, and solving their problems
(10%) Risk Management
-Demonstrate knowledge of banking regulations, corporate policies, and directives
-Successfully complete all required annual compliance training courses
-Adhere to all regulatory and corporate standards
-Manage risk through processing documentation following established Consumer Credit Directives Guidelines and approved best practices
-Ensure that the bank is legally protected through accurately completing all documentation adhering to the approved terms of the loan
(10%) Client and Relationship Management
-Work collaboratively with members of the Consumer Direct Lending Team, and all LOBs
-Provide best in class service to all applicants and LOBs
-Develop sound profitable business relationships through adherence to all Consumer Direct Lending Team standards and guidelines
To deliver on these accountabilities, the incumbent must have the following authorities:
Information Access – Authority to use and access confidential information related to employee information, customer information, product, and financial information.
Empowerment – Authority to take action within limitations as established by the business unit management and the incumbent.