Home Loan Senior Post Closer

Golden 1 Credit Union • Sacramento, CA

5d • Hybrid

About The Position

The function of this position is to review closed loan files for documentation accuracy; and ensure closed loans are properly setup and shipped to Investors, Agencies, GSEs and/or sub-servicer for either loan purchase, insuring or servicing on a timely basis to meet commitment expiration or file delivery deadlines. In addition, ensure that loan files are purchased timely and accurately.

Requirements

• Associate of Arts degree in Business or Finance is required. Equivalent work experience may be substituted for college degree.
• Three or more years of responsible mortgage lending experience within a Post-Closing department of a mortgage/financial institution.
• 1-3 years’ experience in post-closing, including FHA and VA insuring
• Strong member relation skills
• Solid oral and written communication skills
• Solid analytical skills
• Ability to use logical reasoning, make objective observations, evaluations and recommendations
• Innovative with high- initiative in all activities
• Knowledge of Secondary market guidelines related to loan delivery and purchasing
• Maintain knowledge of mortgage industry and knowledge of G1 loan programs
• Attend training provided through seminars, webinars and weekly coaching as compliance, policies/procedures, or work processes dictate change

Responsibilities

• Assign sub-servicer loan numbers to funded 1st mortgage loans
• Complete MERs registration on funded 1st mortgage loans
• Link mortgage loans in Teller navigator to member’s accounts for on-line viewing and access
• Complete MI documentation to setup Mortgage Insurance
• Obtain final Settlement Statement from Escrow
• Review final Closing Disclosures, make corrections as needed and issue Post Consummation Closing Disclosure if corrections are made
• Review the e-folder in Encompass on recently closed loans to ensure that all required documents for the Investors, Agencies, GSEs and/or sub-servicer are contained in the e-folder and filed under the appropriate placeholder
• Ensure required documents are complete and original note/riders and all trailing documents are obtained and stored in fireproof filing cabinet
• Shred remaining paper loan documents
• Upload electronic files and send physical collateral packages to Investors, Agencies, GSEs and/or sub- servicer on recently closed loans for either loan purchase, insuring or servicing on a timely basis to meet commitment expiration or file delivery deadlines
• Upload loan data via GSE loan delivery portals for loan purchase on a timely basis to meet loan delivery requirements and deadlines
• Send required documents and/or request shipment of required documents, including the note, to the applicable Document Custodian (GSE, Agency or Golden 1) timely to meet loan document delivery deadlines
• Clear suspense items and ensure loans are purchased and/or insured by applicable Investors, Agencies and GSEs
• Independently coordinate and complete monthly TENA audits
• Work independently within MERS systems to perform all required MERS validations and functions, including reporting
• Assist management with new employee and new process training
• Assist with Post Closer file assignment as needed
• Proficient in Processing Transactions within Host/Datasafe as it pertains to Home Loans
• Reconcile purchase advices on Investor purchased loans and research any credits or checks from Investors, Title Companies and/or Vendors for principal reductions, funding overages or fee overages and forward to appropriate Accounting area
• Follow up and obtain outstanding funding conditions on closed loans
• Provide updates to management on a regular basis
• Communicate and interact with title companies, member(s), management, loan officers, Investors, GSEs, Agencies and other third party service-related vendors
• Identify, investigate and respond to requests and inquiries in a timely manner
• Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws appropriate to the position
• Perform functions in accordance with Golden 1’s performance competency standards
• Perform additional duties as assigned by the Manager

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Associate degree