Mortgage Loan Closer Job Description Sample

Solarity Credit Union is seeking a Mortgage Loan Closer.

The Mortgage Loan Closer will work with the Mortgage Processing and Mortgage Production teams and our members to make the member experience extraordinary, primarily during the mortgage loan closing. This person will focus on the member needs, exhibit an appropriate sense of urgency, and own the process to make it simple and efficient while we ensure that the member needs are taken care of by:

• Assisting the Mortgage Loan Officers (MLO) transactions by guiding our members through their exciting decision to buy a house.

• Compiling quality and complete loan files that meet the underwriting regulatory and investor guidelines.

• Developing strong working relationships amongst other departments, realtors, builders, title companies, vendors, stakeholders, underwriters, Fannie Mae, and Mortgage Insurance companies as necessary.

The Cultural Fit

• Solarity is seeking people who exemplify a team-first philosophy and show the dedication to member service that is required to meet our high expectations. We're as interested in who you are as much as what you do. Learn what it's like to focus on team accomplishments over individual goals. When everyone is working toward a common goal in this case, building member satisfaction and loyalty through exemplary service then everyone achieves success.

A Day in the life of Mortgage Loan Closer...

Each day will be a different adventure in this role. A snapshot of the day could look like:

• Participate in daily team huddle

• Review mortgage loan files to ensure there are no missing pieces for funding

• Interact with Loan Processors, MLO's, MLOA's discussing mortgage loan file progress, on several files

• Create and deliver flawless closing document packages to escrow companies

• Work with escrow companies to deliver a smooth member closing and funding experience

If you love what you have read so far and meet the requirements below, we want to hear from you!

• Detail-oriented, innovative, fun-loving, team player

• Loves a challenge and is accurate in their delivery

• Minimum 1 year Home Equity or Mortgage processing, closing, escrow or compliance experience

What else can you expect?

• A highly competitive salary range with the potential of a strong performance-based annual bonus.

• A comprehensive benefits package low cost medical, dental, vision, life, and disability coverage for yourself and your family with a generous employer contribution to your HSA account.

• Generous paid time off allowances plus 11 paid holidays annually.

• A substantial retirement program match of up to 6% of your annual earnings.

• An employee wellness program including EAP coverage and gym reimbursement.

• Tuition reimbursement / student loan repayment programs.

• An organizational culture that is committed to your success.

• Significant opportunity for career growth.

• A supportive leadership team.

• Excellent member service oriented culture.

EEO Statement:

Solarity Credit Union is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, veteran status, disability, sexual orientation, gender identity, or any other protected status. Solarity Credit Union participates in E-Verify.

If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process, or are limited in the ability or unable to access or use this online application process and need an alternative method for applying, you may contact us at 509.248.1720, ext. 1520 for assistance.

Chevron Federal Credit Union is one of the top-run credit unions in the country – and one of the largest, with over $3 billion in assets. Yet our corporate culture is not stuffy: the Team Spirit Committee runs fun activities and charitable events throughout the year, and work-life balance, mutual respect, diversity, and providing a voice for every employee are all important to us. As you might imagine, we provide competitive pay and great benefits, including:

• Bonus/incentives for all regular employees

• 401(k) with 8% company contribution

• Medical, dental, and vision insurance for employees and dependents paid at 80%

• PTO and paid sabbaticals

• Tuition reimbursement

GENERAL SUMMARY: Under limited supervision, coordinates loan closings, including all activities from preparing loan documents to funding through boarding and forwarding to Loan Servicing.

DUTIES and RESPONSIBILITIES:

• Reviews file documentation for completeness and accuracy to ensure compliance with CFCU policies, procedures and product guidelines.

• Prepares loan documents for closing.

• Reviews loan documentation prior to funding to ensure that proper approvals are obtained and proper documents are enclosed.

• Coordinates loan closings with appropriate parties to confirm that all conditions of the loan have been or will be met prior to funding. Ensures proper method of delivery of disbursements to members, title companies and wire transfers.

• Funds all real estate loans, acquiring appropriate signatures on disbursements. Balances funding worksheet prior to release of funds.

• Prepares files for shipping, properly collated and in order with all documentation secured; prepares files for shipping within forty-eight hours of release of funds.

• Follows up on trailing documents; processes and delivers to appropriate parties within forty-eight hours of receipt. Other duties as assigned

Requirements

QUALIFICATION REQUIREMENTS: Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and EXPERIENCE:

• High school diploma or general education degree (G.E.D.). Two or more years experience in loan closing.

• Experience with FNMA, FHLMC, and investor documentation and packaging requirements preferred.

KNOWLEDGE, SKILLS, AND ABILITIES:

• Ability to read and comprehend simple instructions, short correspondence, procedure manuals, written agreements, and memos.

• Ability to effectively present information in one-on-one and small group situations to employees and members of the Credit Union.

• Ability to write routine reports and correspondence, including email, using correct spelling and grammar.

• Ability to speak clearly, tactfully, and effectively to members, volunteers, and employees at all levels of organization. Ability to add, subtract, multiply, and divide in all units of measure,

• using whole numbers, common fractions, and decimals. Ability to compute rates, ratios, and percentages.

• Proficient in the use of basic applications in a Windows-based environment.

• Ability to effectively use all applicable banking and loan systems.

• Ability to effectively utilize Outlook and employee Intranet. Internet research skills.

• Moderate keyboard skills at 40 wpm and 10-key by touch.

• Ability to quickly learn specialized software applications.

• Ability to apply common sense understanding to carry out detailed but straightforward written or oral instructions.

• Ability to deal with problems involving several concrete variables in mostly standardized situations.

• Ability to work effectively with members and employees at all levels in the organization.

• Ability to maintain complete confidentiality of member, employee, and Credit Union information.

• Excellent organizational skills and detail orientation. Excellent customer service skills.

PHYSICAL DEMANDS: Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Work involves standing and walking for brief periods of time, but most duties are performed from a seated position.

• Work involves extensive use of computers, up to eight hours per day.

• May include occasional pushing, pulling, or carrying objects weighing up to 50 pounds such as files and documents.

• Work normally requires finger dexterity and eye-hand coordination to operate computer keyboard at a proficient skill level.

• Must be able to speak on the telephone for several hours per day. Requires close vision, distance vision, and the ability to adjust focus.

ACCOUNTABILITY: The incumbent in this position is directly responsible for the accuracy, timeliness and professionalism of all assigned work, meeting the following standards:

• Minimum of five funding packages to be reviewed each day.

• Minimum of 3 docs per day (includes Modifications and/or HELOC increases or decreases.

We welcome all qualified applicants and pride ourselves on our diversity. Reasonable accommodations will be made to enable individuals with disabilities to perform the essential functions of the position.

Apply On-lineSend This Job to a Friend

• Browse Open Jobs

• Search Open Jobs

• Edit Your Profile

• View Submitted Applications

ONLINE ACCESS

• PC Access

• EDeposit

• Person To Person

• Institution to Institution

• Bill Pay & eBills

• Mobile Banking

• Mobile Deposit

• Direct Deposit

• Text Message Banking

• Tax Solutions

LOANS

• Real Estate Loans

• Auto Loans/Rates

• RVs & Watercraft

• Personal Loans

• Pre-Qualified Loans

• Student Loans

• Financial Resource Center

• Credit Care

• Balance

• Calculators

• Discounts

• IRAs

• Insurance

• Carfax

CHECKING & SAVINGS

• C&S Rates

• Member Savings

• Checking

• Overdraft Protection

• Money Market

• Share Certificates

• Automated Services

• Electronic Statements

• Direct Deposit

• Savings Bond

• Expat Services

CREDIT CARDS

• CC Rates

• Visa Platinium Card

• Visa SIgnature Card

• College Rewards Visa

• Secured Visa Card

• Chevron West Card Info

• Credit Card Forms

ABOUT US

• Contact Us

• ATM & Branch Finder

• Membership App

• Job Openings

• Board of Directors

• Super. Committee

• Financial Statements

• Newsletter

• Youth Services

• Financial Date

• Education

• FAQ

Online Access

• PC Access

• Mobile Banking

• Direct Deposit

• DocuSign

• Tax Solutions

• Security Center

Loans

• Real Estate Loans

• Auto Loans

• RVs & Personal Watercraft

• Personal Loans

• Student Loans

• Calculators

• Insurance

• Security Center

Checking & Savings

• Checking & Savings Rates

• Member Savings

• Checking

• Money Market

• Share Certificates

• IRAs and HSAs

• Savings Bonds

• Automated Services

• Electronic Statements

• Direct Deposit

• Expatriate Services

• Security Center

Credit Cards

• Visa Platinum Card

• Reward Cards

• Visa Secured Card

• Security Center

About Us

• Contact Us

• ATM/Shared Branch Finder

• Membership

• Member Benefits

• Chevron Expatriate Services

• Job Openings

• Board of Directors

• Supervisory Committee

• Financial Statements

• Newsletters

• Youth Services

• Financial Data

• Education

• FAQs

• Security Center

ROUTING #321075947
800 - 232 - 8101

• Site Map

• Privacy Notice

• Security Center

• Disclosures

• Terms & Conditions

• Browser Requirements

© Chevron Federal Credit Union

Need Chevronfcu.org Web Assistance? Call Us

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.

We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

• ->

At First Fidelity Bank, we are looking for talented, enthusiastic team members with a passion for service excellence. Our employees are critical to our overall success. We invest in our employees by providing excellent training and development, as well as advancement opportunities. We offer our employees a family environment, great benefits, competitive pay and paid time off for work/life balance. We are dedicated to giving back to the communities we serve, and we encourage our employees to participate in charitable giving and volunteer opportunities. One of our Core Values is to provide a caring place to work where people truly enjoy coming to work each day. Colleagues of First Fidelity Bank take pride in working here, make lasting friendships and have fun!

SUMMARY

Supports Mortgage Loan Officer by preparing and organizing loan files for shipping to underwriting, coordinates loan closings with title companies and clients, prepares documents for loan closings, and prepares loan files for shipping to investors. Assists mortgage clients, underwriters, and investors in resolving problems, clearing verification/documentation exceptions, and serves as a liaison with clients and originators in coordinating loan closings.

PRIMARY DUTIES/RESPONSIBILITIES:

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

• Performs daily reconciling procedures to all general ledger accounts affected by loan.

• Clears prior to fund conditions listed on Underwriter's approval by working with the title company and requesting any necessary additional documentation.

• Coordinates with the title companies to order/process and schedule loan closings.

• Prepares closing instructions and closing documents.

• Once the closed loan packet is received from Title Company, 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.

• Posts closing documents i.e. filed mortgage, final title policies and assignments. Make sure these are forwarded to secondary market investor in timely fashion.

• Performs other relevant duties as assigned.

QUALIFICATIONS

EXPERIENCE REQUIREMENTS:

• A minimum of 2 years loan closing experience required.

EDUCATION REQUIREMENTS:

• High school degree required.

OTHER REQUIREMENTS (SKILLS, ABILITIES, CHARACTERISTICS):

• Thorough knowledge of loan system processing and reporting options.

• Thorough knowledge of policy and procedures as it relates to loan documentation and processing.

• Thorough knowledge of loan accounting principles and procedures.

• Very strong verbal and written communication skills.

• Excellent PC skills with various software application packages.

• Very strong problem solving of mathematical skills.

ADDITIONAL INFORMATION

SUPERVISORY RESPONSIBILITY: None

PHYSICAL REQUIREMENTS:

While performing the duties of this Job, the employee is required to:

• Work in a normal office environment.

AA/EOE M/F/D/V MEMBER FDIC

SUMMARY – Provide quality, accurate and timely customer service involving closing of Mortgage Loans, which include the duties and responsibilities described herein.

ESSENTIAL DUTIES Review loans to confirm terms and conditions of loan approval; communicate information with originators, borrowers, closing attorneys and real estate agents. Review and confirm the accuracy of legal documents and satisfy all approval conditions prior to closing.

Monitor files in pipeline and track rate and credit document expiration dates to insure closing deadlines are met. Comply with bank policies and procedures, regulatory requirements and investor guidelines.

QUALIFICATIONS - to perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION AND/OR EXPERIENCE One year certificate from college or technical school; or three to six months related experience and/or training; or equivalent combination of education and experience.

LANGUAGE SKILLS Ability to read and comprehend simple instructions, short correspondence, and memos. Ability to write simple correspondence. Ability to read and interpret documents such as procedure manuals.

MATHEMATICAL SKILLS

Intermediate Skills:
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry.

REASONING ABILITY

Intermediate Skills:
Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.

COMPUTER AND OFFICE EQUIPMENT SKILLS

Experience with Internet, MS Excel, MS Word, 10-key calculator, facsimile machine, copy machine and should type at least 40 words per minute, etc.

Are you an Experienced Mortgage Closer?

We want YOU to join our team!

The Mortgage Loan Closer is responsible for the preparation of closing instructions and performing duties required to close and fund residential mortgage loans in accordance with GLCU and investor policies, and in compliance with federal and state regulations.

Primary Duties:

• Assemble, prepare and verify accurate and complete closing documents during the completion of real estate transactions

• Coordinate all aspects of the closing process and ensures that terms of the sale are met.

• Communicate with the closing attorney/closing agent to ensure timely scheduling of the loan closing, either by phone or via e-mail.

• Prepare company closing instructions and documents required for closing and forward the closing package to the closing attorney.

• Continually communicate with Mortgage Loan Originators, loan processors, closing attorneys, title company, realtors and members regarding each loan.

• Prepare and deliver a preliminary closing disclosures (CD) as well as a final CD.

• Assure all federal and state regulations (including TRID) are followed in the completion of job duties.

• Maintain confidentiality of borrower information.

• Any other duties as assigned.

Knowledge, Skills, and Abilities:

• Over two (2) years of recent and relevant experience in a process oriented role, preferably within a bank or credit union.

• A high level of knowledge of Freddie Mac, Fannie Mae, FHA/VA underwriting guidelines as well as the requirements of PMI companies and company investors.

• Knowledge of all federal and state managed consumer mandated disclosure requirements.

• Knowledge of, or ability to learn, Encompass loan processing software or similar program.

• Ability to maintain focus and attention to detail in a fast paced work environment.

• Ability to handle multiple tasks simultaneously, maintain a high level of accuracy, and at the same time meet absolute deadlines.

• Must have excellent oral and written communication skills to convey highly detailed information on co-workers and outside agencies.

• Must be able to maintain a high level of confidentiality

PRIMARY PURPOSE OF THE JOB: Closing of residential mortgages secured by real property.

REQUIREMENTS FOR POSITION: Closer should have a minimum of five (5) years experience in closing residential mortgages.

ESSENTIAL DUTIES:

• Review title insurance binders, surveys, and homeowners insurance policies to ensure compliance with specific loan programs.
• Prepare closing documents for FHA, VA, USDA, Conventional & other specialized loan programs.
• Prepare and issue closing disclosures to ensure compliance with programs & regulatory compliance.
• Prepare & coordinate the delivery of funds to closing
• Assist in the post-closing clearing of conditions as necessary.

OTHER DUTIES: Other duties may be assigned by department head and/or senior management from time to time. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Knowledge, Skills, and Abilities:

• Excellent customer service and communication skills;
• Ability to work independently and to carry out assignments to completion within parameters of instructions given, prescribed routines, and standard accepted mortgage industry practices.
• Ability to multitask while maintaining a high level of attention to detail, and while understanding the necessity for communicating and coordinating work efforts with other employees and organizations;
• Excellent oral and written communication skills, strong interpersonal skills, and superior organizational abilities. Ability to effectively present information and respond to questions from senior management, managers, staff and auditors as required;
• Ability to take initiative, to maintain confidentiality, to meet deadlines, and to work in a team environment essential

Mathematical Skills:
Ability to calculate figures and amounts such as interest, commissions, proportions and percentages.

Reasoning Ability:

• Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists;
• Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form;
• Strong analytical skills and the ability to pay attention to details. High degree of accuracy and attention to detail is essential in the performance of this job.

Other Skills and Abilities:

• Skill and ability to use and operate standard office equipment;
• Skill and ability to read and understand typical documents within a loan file, and related materials;
• PC-based computing experience (Word, Excel, PowerPoint, Outlook) essential
• Experience with Encompass very helpful

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job the employee is regularly required to sit; use hands, talk, and hear. The employee is occasionally required to stand; walk; reach with hands and arms; stoop; and must occasionally lift and/or move moderate amounts of weight. Specific vision abilities required by this job include close vision and the ability to adjust focus.

Work Environment: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.

Work Schedule: This position will primarily be supporting Corridor’s West Coast operations. Working hours are therefore 11:30am to 8:00pm EST. Work from home arrangements are available once initial training has been completed.

This job description does not list all the duties of the job. You may be asked by management or Supervisor to perform other duties, and to take on additional responsibilities. You will be evaluated in part based upon your performance of the tasks listed in this job description, as well as other tasks as assigned.

Senior management has the right to revise this job description at any time. The job description is not a contract for employment, and is not intended to change the at-will nature of your employment.

• Responsible to prepare and initiate loan proceeds according to bank and federal requirements.

• Evaluates and coordinates the priority of loan packages to be pre-reviewed, prepared and closed within the required deadlines.

• Reviews loan documents to ensure proper execution and that complete information, fees and additionally required documentation have been obtained from the customer.

• Verifies that proper legal compliance requirements have been followed to ensure perfection of bank's interest and that proper documentation has been done ensuring our lien will be perfected.

• Audits and transmits loan documentation.

• Post reviews and closes loans.

• Corrects inaccuracies in documentation as needed.

• Processes and submits lien instructions for recording to provide prompt assignment of bank's interest.

• Confirms that all required coding and risk management information is present.

• May prepare documentation for all types of loans, to include new and renewed, and supporting documents.

• Other duties assigned.

• Perform all functions related to the preparation of conforming and non-conforming mortgage loan closing documents.

• Review the loan file for completeness, per the product profile, prior to the preparation of the Closing Instructions.

• Monitor high cost, TILA violations, and RESPA regulations including review of the Closing Disclosure for accuracy and adherence to the 0% and 10% tolerance rules.

• Communicate details of the Final Closing Disclosure with the MLO, title agent or attorney.

• Follow up with the closing agent for the approval of Closing Disclosure and return of closing document package.

• Audit closing documents and ATC conditions (at time of closing) for completeness prior to submitting the closed loan file to the Post Closing Department.

• Adhere to bank policies and procedures and comply with legal and regulatory requirements.

• This position may handle a greater case load and transactions of a more complex nature as directed by the Closing Manager.

• Perform some reporting functions.

• Incumbents in this group are fully experienced and are capable of performing with minimal supervision.

Hours could vary

Basic Qualifications:

• High School diploma or equivalent.
• 1 or more years of closing and/or title experience with FHA/VA/FNMA/FHLMC

Preferred Qualifications:

• Experience should include the ability to close Conventional, FHA, VA and Construction Perm mortgage loan products.

• Able to perform in a fast paced work environment and maintain attention to detail and accuracy.

• Excellent written, verbal communication, organization, and customer service skills required to provide Simply the Best service.

• Require multi-tasking, independent thinking, professional demeanor, and an ability to meet time sensitive deadlines.

• Previous experience with Word, Access and Excel.

• Responsible to prepare and initiate loan proceeds according to bank and federal requirements.

• Evaluates and coordinates the priority of loan packages to be pre-reviewed, prepared and closed within the required deadlines.

• Reviews loan documents to ensure proper execution and that complete information, fees and additionally required documentation have been obtained from the customer.

• Verifies that proper legal compliance requirements have been followed to ensure perfection of bank's interest and that proper documentation has been done ensuring our lien will be perfected.

• Audits and transmits loan documentation.

• Post reviews and closes loans.

• Corrects inaccuracies in documentation as needed.

• Processes and submits lien instructions for recording to provide prompt assignment of bank's interest.

• Confirms that all required coding and risk management information is present.

• May prepare documentation for all types of loans, to include new and renewed, and supporting documents.

• Other duties assigned.