Closing Manager - Resident & Consumer Lending

First Commerce Bank•Lakewood Township, NJ

11d•Onsite

About The Position

The Closer – Residential and Consumer Lending is responsible for preparing accurate loan closing documents in order to have a fully compliant, portfolio and saleable mortgage loan. This role requires a thorough understanding of the mortgage industry and regulations, with a focus on operational excellence, execution, follow-through, delegation, regulatory knowledge, adaptability, cross-functional collaboration, and strong ownership. The position involves working effectively across departments to ensure alignment and coordinated execution, while maintaining a deep understanding of the regulatory landscape governing residential lending.

Requirements

High School Diploma or equivalent.
Minimum 1-2 year experience in residential mortgage or similar professional office environment that included some form of related residential mortgage processing.
Basic working knowledge of the mortgage industry and regulations.
Must comply with all registration requirements under the SAFE Act.
Proficient in English, written, verbal and interpersonal communication skills.
Strong time management skills.
Proficient PC skills including Microsoft office.
Thorough knowledge of bank products and services.
Ability to manage multiple tasks in a fast-paced, changing environment with professionalism and courtesy.
Excellent analytical, reasoning, organizational, and time management skills.
Detail oriented with high accuracy.
Knowledge of Origination Systems including Encompass 360.

Responsibilities

Verify that required, accurate closing documentation needed to close are in the file.
Communicate, as point of contact, with borrower about closing schedule and answer questions about closing.
Prepare compliant closing disclosure that adheres to TILA/RESPA requirements.
Communicate with title companies to gather information for accurate closing disclosure preparation and coordinate delivery of the documents.
Communicate with the title company on outstanding closing conditions required to fund the loan.
Verify that closing documents are signed and dated accurately and according to lender instructions.
Prepare funds requests so that mortgage loan funds are delivered to the title company for funds disbursement.
Coordinate with other associates to create seamless closing process for customer.
Implement company processes during closing process for highest level of customer service.
Review post-closing packages and prepare loans for final investor purchase.
Board portfolio loans to bank core operation system.
Responsible for reviewing Closing Disclosure, Hazard and Flood Insurance binders prior to funding.
Responsible for completing Flood worksheets and verifying Flood and Hazard Insurance coverage to ensure adequate coverage and subject property.
Responsible for completing funding sheets and loan set up sheets so that new loans can be entered into the Bank’s Core system.
Scan all legal files to Encompass and ship all secondary market loans to investors electronically according to each investor’s checklist.
Complete closed loan file review using Sold Loan Document Review Checklist.
Follow up, review, scan and submit all final documents for each secondary market loan to all investors.
Track, clear, and upload all suspense items from all investors within time frame given.
Adheres to proper regulatory compliance practices inherent in this position’s responsibilities by following departmental policies and procedures, completing compliance training as assigned and questioning any areas of uncertainty regarding proper regulatory processes.
Perform tasks which are supportive in nature of the essential functions of the job, but which may be altered or re-designed depending upon individual circumstances.