Mortgage Loan Closer | Lapeer Downtown

ChoiceOne Bank•Lapeer, MI

18h•Onsite

About The Position

The Mortgage Loan Closer is responsible for preparing closing documents required for loan closings and disbursing funds as needed. This role involves answering telephone inquiries from current applicants, title companies, and others involved in scheduling and coordinating closings. The position requires inputting and updating loan file data, obtaining and verifying credit information, and reviewing various insurance commitments to clear requirements prior to closing. The Closer must identify and handle problems in a timely manner, arrange closing times and locations, and work closely with the Underwriter to clear conditions. They will coordinate closing times with customers, realtors, and title companies, order mortgage payoffs, and instruct borrowers on necessary closing conditions. The role also involves preparing instructions for title companies, timely preparation and tracking of pre-closing disclosures, and accurately preparing borrower closing packages. A key responsibility is reviewing closed loan packages from title companies for corrections, ensuring proper signatures, and verifying all requirements are met. The Closer will also complete internal checklists, handle mortgage extension agreements, manage construction and blanket loan flips, and facilitate construction draws, inspections, and surveys. Additionally, they will review closing documents against prior Loan Estimates to prevent tolerance violations and track related issues for management. The position requires familiarity with and compliance with the Bank Secrecy Act, USA PATRIOT Act, and all federal and state banking regulations.

Requirements

High School Diploma or Equivalent
Formal on-the-job training or prior loan experience in lending documents
General accounting knowledge
Effective written and oral communication skills
Ability to interface with Internal and external stakeholders and community partners
Group presentation skills
Demonstrates accuracy and thoroughness; monitors own work and the work of others to ensure quality.
Displays willingness to make decisions; exhibits sound and accurate judgment; supports and explains reasoning for decisions; includes appropriate people in decision-making process. Makes timely decisions.
Undertakes self-development activities; takes independent actions and calculated risks; looks for and takes advantage of opportunities; asks for and offers help when needed.

Responsibilities

Input all data pertinent for closing the loan file and update information on files as changes are received.
Obtain reports through DataVerify to verify the credit information on the file is correct.
Obtain various insurance commitments and review to clear all requirements prior to closing, identifying and handling problems in a timely manner.
Handle telephone inquiries from customers and other departments and/or offices.
Arrange closing times/location for borrower and title company.
Work closely with Underwriter to clear conditions/requirements prior to and/or at closing in a timely manner.
Coordinate closing times with customers, realtors, and title companies.
Order mortgage and other payoffs for proper review before closing.
Instruct borrowers to bring any conditions of approval necessary to close.
Prepare instructions for the title company to close our loan accordingly, avoiding mistakes.
Timely preparation, review, and tracking of pre-cd’s for coordinating closing and adherence to the 3-day rule.
Accurately prepare borrower’s closing package, including mortgage, note, disclosures, payment letter, initial escrow, and settlement statement.
Immediately upon receipt of closed loan package from title company, review and identify any corrections to be addressed, including proper signatures, first lien letter, and items secured as required by underwriter.
Complete internal checklist while reviewing closed loan file to verify that all information is accurate and accounted for.
Complete mortgage extension agreements with front closing, collection of funds as needed, and securing proper signatures.
Handle all construction and blanket loan flips, preparing all docs and closing procedures.
Facilitate construction draws, inspections, and surveys during the process and prior to term loan closings/flips.
Review closing documents against prior Loan Estimates to prevent and TIL Tolerance Violations and track issues for management.
Be familiar with and comply with the provisions of the Bank Secrecy Act and USA PATRIOT Act, completing all required reports and reporting any observed violations or potential violations.
Be familiar with and comply with all federal and state banking regulations as applicable.