Post Closing Specialist
About The Position
The primary responsibility of a Post-Closing Coordinator is auditing, organizing, and ensuring the compliance of residential loan files after the closing table. This includes auditing signed closing documents, collecting any missing trailing documents (like final recorded mortgages or title policies), and preparing a clean loan package for sale to investors or government agencies. The role has different levels: Entry Level (reviewing an average of 5 loans per day, zero error rate for secondary market purchase, and clearing loan conditions in a maximum of 2 business days), Intermediate Level II (reviewing an average of 8 loans per day with the same quality standards and timelines), and Senior Level III (reviewing 10+ loans per day with the same quality standards and timelines).
Requirements
- A basic understanding of conventional loan guidelines including but not limited to TRID disclosure and timing requirements.
- A basic understanding of FHA, VA and USDA loan guidelines.
- Previous experience working with a paperless LOS such as Encompass.
- Verify any increased fees are associated with a valid change in circumstance and are properly documented in the file.
- Process upfront premium and funding fee payments through payment processing system.
Nice To Haves
- High School Diploma; 2 or 4-year degree in a business-related field preferred.
- Entry level: Generally 1-2 years of related mortgage experience with positive member relations or relative combination of education and experience.
- Intermediate level: 2-5 years of post-closing experience and the ability to perform all the essential responsibilities and duties listed for entry level.
- Senior level: 5+ years previous post-closing experience and the ability to perform all the essential responsibilities and duties listed for entry and intermediate level.
Responsibilities
- Review loan documentation for accuracy and compliance by completing post-closing checklist and maintaining an average of 5 loans reviewed per day.
- Verify outstanding underwriting conditions have been met to ensure salability of the loan.
- Review Loan Estimate(s) and Closing Disclosure(s) to ensure fees for lender and title services are within TRID guidelines.
- Issue post-closing conditions for loan defects and contact appropriate party for documentation needed.
- Act as liaison between appropriate parties to resolve and follow-up on outstanding post-closing conditions to ensure the loan meets investor requirements prior to delivery.
Benefits
- Medical Insurance
- Telehealth Services
- Dental Insurance
- Vision Insurance
- Life Insurance
- Short-term Disability
- Long-term Disability
- Legal and Identity Theft Protection
- Critical Illness Insurance
- Hospital Insurance
- Accident Insurance
- Participation in 401k Plan with up to 5% company match
- Variable Bonus Pay
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
