Mortgage Operations Disclosure Specialist

$41,715 - $67,000/Yr

BMO - Naperville Park District, IL

Full-time - Entry Level

Naperville Park District, IL

Credit Intermediation and Related Activities

About the position

The Mortgage Operations Disclosure Specialist at BMO Financial Group is responsible for executing critical mortgage processes to achieve business results and enhance customer experience. This role involves coordinating logistics for mortgage closings, ensuring compliance with regulatory requirements, and collaborating with various stakeholders to promote efficient workflows. The specialist will manage documentation, provide customer service, and analyze data to support operational integrity and service delivery expectations.

Responsibilities

• Execute mortgage processes including closing mortgages and reviewing documentation.
• Coordinate logistics of the closing with title companies, borrowers, and other parties.
• Distribute closing document packages and ensure proper documentation and authorization.
• Manage and review assigned pipeline daily, escalating concerns as necessary.
• Provide customer service to borrowers during the closing process.
• Review loan payoff figures for accuracy.
• Perform thorough reviews of denied applications and communicate rationale to customers.
• Cancel loans in the system and ensure correct disposition codes are reflected.
• Communicate title fee/pricing quotes and troubleshoot documentation issues with Mortgage Loan Originators.
• Review Early Disclosures for accuracy and completeness, including the Good Faith Estimate (GFE).
• Provide revised disclosures to Mortgage Loan Originators for presentation to applicants.
• Ensure accurate and timely processing of mortgage processes according to established policies.
• Respond to stakeholder questions and requests with accurate and knowledgeable information.
• Follow documented policies and procedures to execute transactions and meet Service Level Agreements (SLAs).
• Check and reconcile information and documentation for accuracy and completeness.
• Identify and resolve discrepancies according to standard procedures, escalating issues as needed.
• Perform administrative tasks related to documentation management.
• Analyze data and provide insights and recommendations.
• Communicate and collaborate with internal and external stakeholders to meet business objectives.
• Develop and maintain effective relationships with stakeholders to fulfill service delivery expectations.
• Collaborate in the development and implementation of new processes and improvements to existing systems.
• Maintain understanding of regulatory requirements and risks to ensure operational integrity.

Requirements

• 2 - 3 years of relevant experience in mortgage operations or a related field.
• Post-secondary degree in a related field of study is desirable or equivalent combination of education and experience.
• Knowledge and experience using relevant systems and technology.
• Understanding of the business unit's key products, services, processes, and controls.
• Knowledge of risk and regulatory requirements in the mortgage industry.
• Strong prioritization skills.
• Proficient in PC skills including MS Word, Excel, and PowerPoint.
• Good verbal and written communication skills.
• Strong organizational skills.
• Ability to collaborate and work effectively in a team environment.
• Analytical and problem-solving skills.

Benefits

• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans
• Performance-based incentives
• Discretionary bonuses
• Other perks and rewards