Loan Closing Coordinator II

Redwood Credit Union•Napa, CA

1d•Onsite

About The Position

Redwood Credit Union is seeking a Loan Closing Coordinator II to support RCU’s lending department in the closing and funding processes, particularly focused in Mortgage Lending. This role involves working both individually and as part of a team to facilitate the loan closing process, including the creation and review of loan closing documents. The position requires extensive knowledge of closing document creation and funding processes, and assists in the training and development of junior team members. The Loan Closing Coordinator II possesses comprehensive skills in reviewing all loan closing documents for completeness and accuracy, as well as a demonstrated ability to balance funding transactions in partnership with title companies.

Requirements

Solid knowledge of mortgage lending guidelines and regulations.
Clear understanding of RESPA and TRID regulation requirements.
Thorough knowledge in the use of Internet-based loan origination software; preferred experience working on Accenture Mortgage Cadence and/or Episys Symitar platforms.
Highly proficient knowledge of investor guidelines (Fannie Mae preferred) and compliance requirements.
Ability to work in a high paced environment with self-driven initiative to effectively prioritize multiple tasks.
Strong attention to detail.
Detailed knowledge of conventional residential loan closing documents.
Ability to accurately read and comprehend home loan credit documents including “Desktop Underwriter”, Uniform Residential Loan Application (1003), and underwriting stipulations.
Skill in the operation of personal computers with Intranet and Internet access, and office equipment.
Ability to communicate effectively both verbally and in writing.
Ability to establish and maintain effective work relationships with a diverse group of people including vendors and other Credit Union team members.
Ability to act independently and confidentially, using discretion and tact.
Ability to analyze situations and recommend workable solutions.
Ability and desire to work in a team environment.
Minimum of three years operational experience in residential lending or closing/funding experience.
Education and experience equivalent to a high school diploma.

Nice To Haves

Experience working on Accenture Mortgage Cadence and/or Episys Symitar platforms.
Fannie Mae investor guidelines preferred.

Responsibilities

Responsible for the creation and remittance of loan closing documents for closing agents (i.e., Title Company) utilized in loan transactions.
Ensure that additional/supplemental documents are correctly sent to closing, including those required by underwriting stipulations.
Review all loan documents for completeness and accuracy.
Research and follow-through on escalated and complex inquiries from interested parties.
Assist in the preparation of written procedures and training manuals for matters relating to closing document creation and/or funding loans.
Validate and correct loan compliance errors, as applicable.
Utilize strong working knowledge of TRID regulations, particularly those relating to the “Loan Estimate”, “Closing Disclosure” and property timing requirements.
Ensure quality and compliance of work to RCU policies, procedures as well as RCU’s Investor guidelines including those of Fannie Mae.
Maintain a thorough working knowledge of Policy and/or Federal, State, and regulatory changes that may affect the loan closing / funding process.
Conduct thorough review of executed loan documents to maintain compliance with Federal, State and/or local laws.
Review executed loan documents and validate correct signatures, notary information, title reports and compliance with the lender’s escrow instructions.
Facilitate and validate the completion of all loan stipulations that are to be obtained “at closing”, “pre-funding” and/or “post funding”.
Utilize strong understanding of fee tolerance requirements including how to correctly resolve tolerance violations in a legal timely manner.
Review and approve the “Closing Disclosure” document with the “settlement statement” from the closing agent to ensure accuracy which includes but is not limited to: “Lender” and “Seller” fee credits are correctly itemized. “Buyer” charged fees from interested parties are accurate and compliant to law. All applicable fees are listed in correct sections. Escrow impounds correctly calculated and compliant to law.
Initiate wire transfer instructions as well as accurately reconcile loan proceeds as per lender’s “Closing Disclosure” and closing agent’s “Settlement Statement”.
Responsible for facilitating correct remittance of loan proceeds to closing agent(s).
Input funding information into the loan origination system and export data to create accurate loan tracking records to Member accounts in core banking platform.
Follow up with any post-closing issues that may arise.
Provide support to stack loan documents and deliver to end investor(s) as required.
Assist management with implementation of audit and/or compliance changes as required by new or amended regulations.
Back up lending phone queue(s) and duties as needed.
Handle advanced and complex Member and/or interested party inquiries regarding loans originated in lending departments supported.

Benefits

Competitive medical, dental, and vision insurance, mental health offerings
Employee performance incentive plan
Salary Advancement– Merit increase based on performance
401(k) program with employer match
Time Off- Competitive PTO accrual plus 11 paid company holidays and your birthday off!
RCU employees are eligible for a .75% discount off RCU standard collateral auto loans
RCU employees are eligible for a 1% discount on all recreational or boat loan products
2% discount off Visas and LOC Loans through RCU
0% interest loan to support employees with various immigration related expenses such as visa application fees and relocation costs. Loan amount up to $1,000.
0% interest loan to support employees with expenses associated with the naturalization process. Loan amount up to $15,000.
0% interest on garment, fitness, or home office equipment loan of up to $500
100% financing for employee purchased homes!