Mortgage Loan Closer
About The Position
The Mortgage Loan Closer is responsible for preparing closing loan packages, ensuring the timely movement and closing of approved loans, and coordinating with various parties to obtain necessary documentation. This role involves monitoring loan status, advising on changes or issues, performing pre-closing quality reviews, and completing disbursement procedures. The position also requires responding to and resolving complex problems, following up on deficiencies, recommending procedural changes, and ensuring compliance with bank policies and regulatory requirements. Additionally, the role involves staying updated on industry regulations and adhering to Anti-Money Laundering (AML) laws, including the Bank Secrecy Act (BSA).
Requirements
- Has at least two years’ experience closing Conventional and government loans
- Has a High School Diploma or equivalent
- Has working knowledge of real estate lending criteria, compliance, federal/state regulations
- Has excellent organizational, oral and written communication skills
- Is able to perform in a fast-paced environment typical to Mortgage Banking
Nice To Haves
- Experience with Microsoft Word
- Experience with Encompass software
Responsibilities
- Preparing closing loan package necessary for individual loan types in accordance with Bank and Investor guidelines as well as Secondary Marketing commitments and requirements.
- Ensuring the timely movement and closing of approved loans through the pipeline.
- Contacting Title Companies, Attorneys, Loan Officers, Processors and Insurance Companies to obtain documentation necessary to close mortgage loans.
- Monitoring loan status on a continual basis to ensure that timely/qualify standards are achieved.
- Advising all parties of any changes or issues that may occur to ensure high quality standards and customer service.
- Performing a pre-closing quality review of loan files prior to releasing closing package.
- Reviewing all preliminary documents provided from attorney/title company to include, but not limited to: Title binder, survey, termite report, Hazard/Flood insurance binder, Deed, HUD1 Settlement Statement, Power of Attorney and/or Trust documentation.
- Completing all disbursement procedures for issuing of funds to attorneys/title company, any necessary refund checks, and releasing of escrow monies withheld.
- Responding to and resolving technical and complex problems that arise.
- Following up on any deficiency requests by Shipping and Post-Closing to ensure timely procedure for loan funding.
- Recommending procedural changes to management.
- Complying with Banks Policies and Procedures, as well as regulatory compliance.
- Keeping abreast of industry regulations and changes.
- Obeys all applicable federal laws, rules, and regulations relating to Anti-Money Laundering (AML) including the Bank Secrecy Act (BSA).
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
