The Initial Disclosure Coordinator monitors, prepares & discloses files that have triggered an application, which are pending the execution of initial disclosures, to adhere to time sensitive regulations and prevent penalties.

The Initial Disclosure Coordinator will be responsible for completing the following job duties. This job description reflects management’s assignment of essential functions; and nothing in this herein restricts management’s right to assign or reassign duties and responsibilities to this job at any time.

• Performs compliance review of screens designated by supervisor.

• Reviews Sales Contracts for file accuracy of buyer’s names, subject property address, signatures, purchase price, counteroffers, addendums, contingencies as well as other terms, fees and discrepancies that may have a negative impact on fee tolerances.
• Orders flood certificates to validate location for the purpose of disclosing accurate third-party fees and identifying flood zones that may require flood insurance and other related fees.
• Orders most current quote on third-party title & mortgage tax related fees.
• Orders most current Mortgage Insurance quote or validates Insurance factor based on loan program.
• Orders Certificate of Eligibility for applicable VA Loans to determine funding fee factor.
• Searches subject property address to verify if location is in a target Census tract that qualifies for a credit towards closing costs.
• Uses applications to perform automated tasks and validate files for errors.
• Updates closing related fees as instructed by supervisor.
• Makes corrections to files as instructed by supervisor.
• Sends Initial Disclosure package as instructed by supervisor.
• Responds to incoming emails, maintains notifications or any other function of the Initial Disclosure Monitoring email inbox
• Monitors pipeline of undisclosed applications within time regulation and discloses any remaining files to meet regulations.
• Notifies Loan officer and other applicable parties, of intentions of the coordinator’s file preparation and delivering disclosures to meet deadline regulations.
• Trains to stay current and compliant with lending regulations

Qualifications:

The following qualification are required of the Initial Disclosure Coordinator

Education:

• A college degree with two years related experience and/or training. A combination of equivalent education and experience is acceptable.

Experience:

• Previous experience in the mortgage industry reviewing file disclosures, sales contracts, knowledge of fee tolerances, and maintaining a pipeline is preferred.

Skills:

• Adaptive & resilient mindset
• Critical thinker
• Compliance mindset
• Highly resourceful
• Strong attention to detail
• Independent judgement
• Multi-tasking skills
• Problem solving/ solution-oriented mentality
• Professional written and verbal communication skills
• Strong composure with difficult people
• Team player
• Time management skills
• Well organized

Equipment:

The following equipment is used daily by the Initial Disclosure Coordinator and provided by Premium Mortgage.

• Computer
• Phone
• Printer/copier/fax machine
• Excel and word programs
• Encompass software

Working Conditions:

The Initial Disclosure Coordinator is primarily in an office setting and maybe exposed to outdoor conditions. The working conditions are classified as sedentary work:

• Sedentary work - Exerting up to 10 pounds of force occasionally, and/or a negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects, including the human body. Sedentary work involves sitting most of the time.

Physical Requirements:

The following is a description of the physical requirements on a daily basis for the Initial Disclosure Coordinator. While performing the duties of the job the employee is regularly expected to:

• Stand
• Sit
• Hear
• Walk
• Talk
• Stoop or kneel
• Repetitive motion

This is not necessarily an exhaustive list of all responsibilities, duties, skills, efforts, requirements or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed as assigned.