Loan Closer

First National Bank Of Pennsylvania • Pittsburgh, PA

1d

About The Position

The Loan Closer is primarily responsible for monitoring Closing Disclosure (CD) dates, generating CDs, and ensuring they are executed in a timely manner so settlement dates can be honored. The position also prepares closing documents and mortgage loan net funding, coordinates closings, manages the settlement agent portal, and validates disclosure histories via Smart LE. The incumbent provides high-quality customer service to internal and external customers.

The role prepares and reviews documents and disclosures for residential mortgage loan closings, coordinates with settlement agents, and ensures applicable regulatory requirements are met. The Loan Closer also reviews insurance coverage, performs initial escrow analyses, and arranges funding to settlement agents. Employees are responsible for identifying, reporting, responding to, managing, and monitoring business risks in accordance with F.N.B. Corporation’s risk management program and must comply with regulatory requirements and company procedures.

Requirements

• High school diploma or GED.
• At least 3 years of experience.
• Experience in mortgage loan closing or equivalent functional work.
• Excellent written and verbal communication skills.
• Excellent organizational, analytical, and interpersonal skills.
• Detail-oriented.
• Ability to use general office equipment.
• Ability to use a personal computer and job-related software.
• Intermediate-level Microsoft Word skills.
• Intermediate-level Microsoft Excel skills.
• Basic-level Microsoft PowerPoint skills.
• Must be legally authorized to work in the United States; employment-based visa sponsorship is not provided.

Responsibilities

• Prepare bank-generated legal documents required to close residential mortgage loans, including notes, mortgages, riders, final RESPA documents, escrow analysis forms, and amortization schedules.
• Prepare Closing Disclosures in a timely manner to help customers settle transactions on time.
• Perform required HOEPA, HPML, and TILA tests on each loan, analyze results, take steps to bring loans into compliance, and comply with TRID requirements regarding settlement costs and curing deficiencies.
• Manage changes and documentation required under TRID rules.
• Review attorney-prepared legal documents for errors, omissions, and inconsistencies; cure defects or instruct settlement agents how to do so.
• Coordinate settlements through the closing portal and obtain fees and information needed to prepare Closing Disclosures and closing documents.
• Determine whether settlement agents properly prepared deeds, subordination agreements, and other attorney-prepared legal documents, and notify agents of needed corrections before the Bank releases funds.
• Review homeowners’ insurance policies for adequate coverage and the correct mortgagee clause.
• Perform initial escrow analyses using information from tax and insurance information sheets.
• Prepare net loan funding for settlement agents by preparing general ledger tickets, preparing block entries on ITI, or initiating wire transfers.
• Monitor consent for electronic delivery, disclosure timing, waiting periods, redisclosures, and rescheduled closings to comply with TRID requirements.
• Perform other related duties and projects as assigned.
• Serve as a risk manager by understanding, reporting, responding to, managing, and monitoring risks encountered in daily work.
• Comply with regulatory laws, guidelines, and company procedures.

What This Job Offers

• Job Type: Full-time
• Education Level: High school or GED