Responsible for the preparation of closing instructions and performing company procedures required to close and fund residential mortgage loans in accordance with policies and requirements.Prepares mortgage files for sub-servicing or delivery to investor or delivery to investor which consists of putting the file in order & copying or scanning as required by investor guidelines. Tracks closed loan files for post funding and trailing document items and initiates any changes/corrections that are needed. Delivers loan files in a timely manner for various internal and external audit channels. Maintains file retention schedule for all shipped files.
Timely and accurate collection of documentation needed to clear final conditions prior to working up closing instructions.
Examine all loan system details, dates, and reporting criteria.
Assess all required loan information and input closing data.
Interact closely with management, underwriting, closing, loan officers, closing agent and borrowers to provide regular updates to achieve goals for production time, pull through and customer satisfaction.
Instruct and train new loan closers in the daily duties required for the position.
Coordinates with the title companies to order/process and schedule loan closings.
Prepares and sends closing instructions as well as, final documents.
Audits, adjusts and final approves Closing Disclosure to sending above stated paperwork.
Once the closed loan packet is received from title office, reconcile closing fees to mortgage general ledger accounts.
Build and prepare mortgage files for shipping and funding to secondary market investors.
Reconciles purchase advice with Mortgage General Ledger accounts.
The ability to be bonded.
EDUCATION & EXPERIENCE
A minimum of 3-5 years closing and post-closing conventional 1st mortgage loans and home equity loans
Must demonstrate a working knowledge of Fannie Mae/Freddie Mac and FHA guidelines as well as lending policies, procedures, and regulations
Must possess a thorough understanding of the requirements and features of the mortgage loan programs offered
Must demonstrate the ability to conduct a thorough review of a loan file, analyze the requested closing transaction and quickly identify problems that may exist with GFE tolerances, legal documents, title policies etc.
Responsible for compliance with Federal, State, County, Private Investors, Freddie Mac/Fannie Mae and MI guidelines.
College degree preferred or equivalent work experience needed
Analytical attention to detail
Ability to learn and work in a fast paced environment
Ability to multi-task and prioritize work as required
PC proficient to include: Word, Excel, Outlook, internet and e-mail
Knowledge of mortgage loan origination, processing and closing software
*Send resume to firstname.lastname@example.org