Mortgage Loan Closer

Y-12 Credit Union•Oak Ridge, TN

7d•Onsite

About The Position

The Mortgage Loan Closer is responsible for preparing the closing loan package, ensuring the timely movement and closing of approved loans through the pipeline, and coordinating with various parties to obtain necessary documentation. This role involves performing pre-closing quality reviews, completing disbursement procedures, resolving complex problems, and ensuring compliance with all relevant policies, procedures, and regulations. The position requires maintaining high-quality standards and excellent member service throughout the loan closing process.

Requirements

Minimum 1 year of experience closing conventional and government loans.
Must be registered annually in the Nationwide Mortgage Licensing System (NMLS) License and all data must be kept up-to-date.
A high school diploma or GED equivalency.
Knowledge of real estate lending criteria, compliance, federal/state regulations.
Excellent organizational, oral, and written communication skills.
Ability to perform in a fast-paced environment typical to the Mortgage Industry.
Experience with Microsoft Word/Excel.
Experience with Encompass.
Interpersonal Skills – courtesy, tact, and diplomacy are essential elements of the job. Work involves much person contact with other inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.
Multi-tasking in a member service environment is essential.
Ability to work in a paperless environment.

Responsibilities

Prepares closing loan package necessary for individual loan types in accordance with Credit Union and Investor guidelines as well as Secondary Marketing commitments and requirements.
Ensures the timely movement and closing of approved loan through the pipeline.
Contacts Title Companies, Attorneys, Loan Officers, Processors, and Insurance Companies to obtain documentation necessary to close mortgage loans.
Monitors loan status on a continual basis to ensure that timely/qualify standards are achieved.
Advises all parties of any changes or issues that may occur to ensure high quality standards and member service.
Performs a pre-closing quality review of loan files prior to releasing closing package.
Reviews 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.
Completes all disbursement procedures for issuing of funds to attorneys/title company, any necessary refund checks, and release of escrow monies withheld.
Responds to and resolves technical and complex problems that arise.
Follows up on any deficiency requests by Shipping and Post-Closing to ensure timely procedure for loan funding.
Complies with Credit Union Policies and Procedures, as well as regulatory compliance.
Keeps abreast of industry regulations and changes.