Mortgage Loan Closer- Glenwood

FARMERS BANK & TRUST COMPANY OF MAGNOLIA • Glenwood, AR

1d • Onsite

About The Position

Ensure an accurate and timely closing process to all mortgage loans originated in the division through the post-closing process.

Requirements

• Education: High school, plus specialized schooling and/or on the job education in a specific skill area; e.g. data processing, clerical/administrative, equipment operation, etc.
• Experience General: 2 years related experience and/or training.
• Experience and extensive knowledge of RESPA/GFE laws.
• Detailed knowledge of closing and legal documents (HUD-1, Note, Deed of Trust, Assignment, Title Binder) and disclosure documents (TIL, GFE, Right of Rescission, State-specific).
• Detailed knowledge of FHA/VA/USDA loan documents, credit documents, insurance documents, MDIA disclosure timing and APR rules, and TILA/RESPA LE/CD fee tolerance comparisons and change of circumstance.
• Ability to work in high volume environment.
• Must provide Farmers Advantage Customer Service to all customers, internal and external.

Responsibilities

• Prepare mortgage loan closing packages.
• Prepare all information required for funding from secondary market investor.
• Ensure the closing package is fully complete, accurate, and compliant, which includes: lender and seller credits are itemized, POC credits are itemized, fees are listed in the correct sections, fee entries are correct, and escrows are set up properly.
• Review signed closing packages for accuracy.
• Provide funding authorization to title/escrow agents.
• Understand and comply with fee tolerances, as well as how to handle tolerance violations when three-day wait periods apply.
• Ensure all date entries are completed to ensure accurate reporting and to ensure Loan Officer (and team) have visibility to the four steps that have been completed.
• Maintain status notes regarding communication with Loan Officer, borrower, or settlement agent.
• Register all loans and transfer the loans through MERS.
• Perform post-closing reviews and processes to ensure timely loan delivery.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED