Skip to main content
Two women in conversation holding iPadTwo women in conversation holding iPad

Change of Circumstance, Wholesale

Apply Now
Apply Now

Description

Summary

The Change of Circumstance (COC) Specialist is responsible for monitoring and completing COC requests
submitted from the Broker and other Departments from within the company, based on changes made to the loan, or
additional requirements as the loan is being underwritten and reviewed. This position will apply RESPA and REG
Z rules and requirements to ensure all re-disclosures packages are compliant.

Essential Job Functions:

  • Review COC request and validate if compliant, so LE can be re-disclosed within allowable time frame.
  • Review previously disclosed LE and Lake (Operating System) data to determine what changes need.
  • Validate fees and enter all required changes.
  • Run QM, PredProtect Tests and review with management if failing.
  • Allocate of Seller paid closing costs and over par credits to the HUD settlement fees.
  • Print LE re-disclosure package (depending on system requirement) to review (compare side by side with last disclosed LE) to validate all changes are reflected and accurate.
  • Approve and send re-disclosure package.
  • Perform other duties as assigned.

Qualifications:

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The
requirements listed are representative of the knowledge, skill, and/or ability required. Reasonable
accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.


Education and/or Experience:

High school diploma or general education degree (GED); or one to three months related experience and/or training;
or equivalent combination of education and experience. Must have knowledge of what fees are APR and non APR.