500 - Mortgage Admin - Residential Loan Spec/Closer

First United Bank & Trust•Oakland, MD

24d•Onsite

About The Position

This role is responsible for performing various duties related to the processing and closing of mortgage loans. This includes reporting pertinent information to the supervisor, coordinating work within the department and with other departments, and responding to inquiries. The position requires a strong understanding of mortgage loan documentation and regulatory requirements, as well as the ability to learn and utilize software tools effectively.

Requirements

A high school diploma or equivalent.
Proficient reading, writing, grammar, and mathematics skills.
Proficient interpersonal relations, communicative, and sales skills.
Moderate PC skills.
Ability to learn and effectively utilize software tools, including mortgage origination software.
Working knowledge of mortgage loan documentation and regulatory requirements.
Visual and auditory skills.
Valid driver’s license.
Ability to work independently with minimal supervision.
A minimum of five (5) years’ experience in a related field.

Nice To Haves

Some college preferred.
Obtain and maintain appropriate Bank Product Knowledge Certification.

Responsibilities

Performing various duties relating to the processing and closing of mortgage loans.
Completing the loan analysis and validation process for regulatory compliance and accuracy.
Communicating with customers, originators, realtors, and attorneys throughout the loan process.
Preparing and sending necessary letters and documentation requests.
Uploading mortgage files and required documentation, and monitoring outstanding conditions.
Processing incoming mail and following up on files to ensure receipt of all necessary documentation.
Staying current with residential mortgage products and regulatory changes.
Coordinating internal activities with Loan Originators and Underwriters.
Tracking closing dates for all new consumer and consumer real estate loans.
Preparing changed circumstances and Loan Estimates according to regulatory requirements.
Reviewing loan files for regulatory compliance prior to closing.
Coordinating closings and ordering necessary items like surveys with external parties.
Reviewing title work for all consumer real estate loans.
Issuing closing instructions to settlement agents.
Preparing and reviewing loan closing documents.
Collecting data, preparing, and mailing the Closing Disclosure to borrowers.
Assigning loan numbers and funding transactions.
Making corrections to closing documents as needed.
Preparing loan disbursement checks, wire transfers, and general ledger tickets.
Completing HMDA and CRA reporting.
Completing monthly reports of closed loans.
Forwarding files for booking.
Working closely with Compliance regarding regulatory changes.
Managing the packaging and submission of loan documents.
Updating all parties on loan approval status and anticipated closing dates.
Handling regulatory and legal dissemination related to loan processing.
Keeping up to date on loan processing software, training users, and assisting with operational problems.
Representing the bank on loan processing software advisory councils.
Ordering flood determination and ensuring adequate insurance coverage.
Collecting all prior to closing conditions.
Ensuring all office operations are performed in accordance with bank policies and procedures.
Maintaining awareness of new business opportunities and referring customers to sales personnel.
Coordinating specific work tasks with personnel within and between departments.
Abiding by laws and policies to promote a harassment-free workplace.
Cooperating with and supporting internal policies and procedures for risk management and compliance.
Reporting pertinent information to the immediate supervisor.
Responding to inquiries within given time frames and established policy.

Benefits

12-days of Paid Time Off (PTO) accrued 1-day for each month worked (for full-time hourly employees).
Sick time accrual after the first year of employment.
Annual vacation benefit after one year of service.
12 paid holidays.
2 Personal days.
2 Family Sick days.
2 Volunteer Days after completion of 90 days of employment.
Health Care, Dental and Vision (single and family) eligible the first of the month following 30 days of full-time employment.
401(k) eligible on the first day of the month following 30 days of employment with employer match available.
Company Wellness Program.
Company Stock program available after 1 year of employment.
Annual Performance Reviews with salary increase based on individual performance.
Eligible for overtime.