Mortgage Loan Closer
About The Position
The Mortgage Loan Closer is responsible for performing final reviews on secondary market and in-house portfolio loans to ensure all Bank, regulatory, and investor requirements are met. This role involves preparing Closing Disclosures, ensuring TRID timing requirements are met, and accurately preparing closing documents. The Closer will also obtain necessary pre-closing items, confirm third-party fees, and utilize software systems to calculate escrows and determine loan thresholds. Additionally, the position requires calculating final loan-to-value and debt-to-income ratios, ensuring all closing conditions are satisfied, and coordinating with loan officers and third-party closing agents. The role also includes disbursing loan proceeds, selling and delivering secondary market loans, and staying current with regulatory and investor policies. There may be opportunities to assist in training mortgage staff and performing other related duties as assigned.
Requirements
- Multi-tasking ability
- Strong attention to detail
- Excellent verbal and written communication skills
- Ability to perform efficiently at a fast pace while conforming to policies and procedures
- Team-player mindset and eagerness to help others
- Experience with Microsoft Word, Excel and Outlook
Nice To Haves
- High school diploma or equivalent
- 1 year of mortgage experience preferred but not required
- Loan compliance knowledge (i.e. TRID, HMDA, TIL, ECOA, ATR/QM, HPML, HOEPA, etc.) preferred but not required
- Basic lending knowledge preferred but not required
- Mortgagebot and LaserPro experience preferred but not required
Responsibilities
- Perform final review on secondary market and in-house portfolio loans to ensure Bank, regulatory and investor requirements are met
- Prepare Closing Disclosures and ensure TRID timing requirements are met
- Prepare closing documents timely and with precision
- Obtain payoff statements, proof of insurance, employment verifications, and other pre-closing items
- Confirm third-party fees and payoff amounts are accurately accounted for
- Use software system to calculate escrows and determine whether loan falls within HOEPA and HPML thresholds
- Calculate final loan-to-value and debt-to-income ratios
- Ensure all closing conditions are met
- Coordinate with loan officer and third-part closing agents on closing transactions
- Disburse loan proceeds to third-party vendors and internal accounts
- Sell and deliver secondary market loans to investors
- Stay up-to-date on regulatory and investor policies, procedures, and changes that affect mortgage loans
- Assist in the training of mortgage staff as needed
- Perform other related duties as assigned
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
