Mortgage Loan Closer
About The Position
Reviews new mortgage loan files received for further processing such as ordering credit reports, verifying employment, requesting property appraisal, ordering title search, flood determination, if required, order survey and obtain title insurance. Determine if additional customer information is needed. Contact customers, realtors and others to obtain the necessary information. Submit underwriting packages to Investors &/or PMI company. Prepare maturing balloon loan modifications as directed by the loan officer. Schedules loan closing date with buyer, seller, real estate, loan officer and others. Prepares the loan closing documents such as the Note, Closing Disclosure, includes buyer/seller costs and notifies the appropriate parties of such costs prior to the closing. Prepare disbursement papers, contacts appropriate parties for the disbursement. Ship closed loan to the Investor for purchase, meet any investor requirements to ensure loan is sold. Distribute loan profit to GL accounts. Ensure that all closed mortgages are recorded properly. Completes the necessary forms, prepares checks to pay for the recording taxes. Submit recorded documents to Investor. Balance Mortgage Loans Held For Sale GL or Appraisal GL. Any other duties as assigned.
Requirements
- Review mortgage loan files.
- Order credit reports.
- Verify employment.
- Request property appraisal.
- Order title search.
- Order flood determination.
- Order survey.
- Obtain title insurance.
- Determine if additional customer information is needed.
- Contact customers, realtors, and others to obtain necessary information.
- Submit underwriting packages to Investors &/or PMI company.
- Prepare maturing balloon loan modifications.
- Schedule loan closing date with buyer, seller, real estate, loan officer, and others.
- Prepare loan closing documents (Note, Closing Disclosure).
- Include buyer/seller costs.
- Notify appropriate parties of costs prior to closing.
- Prepare disbursement papers.
- Contact appropriate parties for disbursement.
- Ship closed loan to the Investor for purchase.
- Meet investor requirements to ensure loan is sold.
- Distribute loan profit to GL accounts.
- Ensure that all closed mortgages are recorded properly.
- Complete necessary forms.
- Prepare checks to pay for recording taxes.
- Submit recorded documents to Investor.
- Balance Mortgage Loans Held For Sale GL or Appraisal GL.
Responsibilities
- Reviews new mortgage loan files for processing.
- Orders credit reports, verifies employment, requests property appraisals, and orders title searches.
- Determines if additional customer information is needed and contacts relevant parties to obtain it.
- Submits underwriting packages to Investors and/or PMI companies.
- Prepares maturing balloon loan modifications.
- Schedules loan closing dates.
- Prepares loan closing documents, including the Note and Closing Disclosure.
- Calculates and notifies parties of buyer/seller costs prior to closing.
- Prepares disbursement papers and contacts appropriate parties for disbursement.
- Ships closed loans to investors and meets requirements for sale.
- Distributes loan profit to GL accounts.
- Ensures all closed mortgages are recorded properly.
- Completes necessary forms and prepares checks for recording taxes.
- Submits recorded documents to investors.
- Balances Mortgage Loans Held For Sale GL or Appraisal GL.
- Performs other duties as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
