The Role
Prepare, review, and verify Initial Closing Disclosures (ICDs) for accuracy and regulatory compliance (TRID). Cross-check loan documentation, resolve discrepancies with internal teams, conduct quality control, maintain records, monitor timelines, and report ICD errors or compliance risks to management.
Summary Generated by Built In
The Initial Closing Disclosure (ICD) Analyst plays a critical role in the mortgage loan process by preparing, reviewing, and verifying the accuracy of the Initial Closing Disclosures (ICD). This position ensures compliance with regulatory requirements and company policies, ensuring borrowers receive accurate and timely disclosures of loan terms and costs. The ICD Analyst collaborates with internal teams such as loan processors, underwriters, and closing officers to resolve discrepancies and ensure smooth and timely loan closings.
Key Responsibilities
Preparation of Initial Closing Disclosures:
- Generate and review Initial Closing Disclosure (ICD) documents for accuracy and completeness in accordance with company policies and regulatory requirements.
- Ensure that the ICD is sent to the borrower at least three business days prior to closing, adhering to TRID (TILA-RESPA Integrated Disclosure) regulations.
Data Review and Verification:
- Review loan terms, fees, taxes, and other financial data to ensure they are accurately reflected in the ICD.
- Cross-check all loan documentation to ensure alignment with underwriting conditions and customer information.
- Identify and resolve any discrepancies in loan documentation prior to issuing the ICD.
Compliance and Regulatory Adherence:
- Stay up to date with federal and state mortgage regulations (including TRID) to ensure all disclosures meet legal standards.
- Maintain detailed records of all issued ICDs and monitor timelines to ensure compliance with the three-day disclosure rule.
Collaboration with Internal Teams:
- Work closely with loan officers, underwriters, processors, and closing coordinators to ensure all necessary data is collected and accurately reflected in the ICD.
- Communicate with the loan origination team to address any borrower questions or concerns regarding the closing disclosure.
Quality Assurance and Reporting:
- Conduct quality control checks on all ICDs before submission to ensure there are no errors or omissions.
- Report any issues or trends regarding ICD errors or compliance risks to management for further review.
Skills, Knowledge and Expertise
- Proficiency in Microsoft Office Suite (Excel, Word, Outlook).
- Analytical mindset with the ability to identify and solve problems quickly.
- Familiarity with loan documentation, including closing disclosures, loan estimates, and underwriting terms.
- Strong organizational skills and ability to manage workflow efficiently.
Benefits
- Above market salary
- HMO with free dependent
- Paid leave incentives
- Performance based Incentives
- Quarterly Company Events
- In-depth training for career growth
About
NightOwl Consulting was born from the desire for more! As prior clients of a BPO, we found ourselves struggling with support, understanding of our business industry, and the treatment of our global family… from this, NightOwl Consulting was born. Our mission is to connect companies with world-class talent with the overall vision to build a global family that aspires to reach its highest potential.
Skills Required
- Proficiency in Microsoft Office Suite (Excel, Word, Outlook)
- Familiarity with loan documentation including closing disclosures, loan estimates, and underwriting terms
- Knowledge of TRID (TILA-RESPA Integrated Disclosure) and federal/state mortgage regulations
- Analytical mindset with ability to identify and resolve discrepancies
- Strong organizational skills and ability to manage workflow efficiently
- Ability to collaborate with loan officers, underwriters, processors, and closing coordinators
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The Company
What We Do
NightOwl Consulting helps businesses and people realize new possibilities by connecting companies with world-class talent and building a global family that aspires to reach its highest potential.
