Mortgage Loan Closer Job Description Sample

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, with a particular emphasis on the balancing and delivery of the "Closing Disclosure" when needed and in accordance with the TILA/RESPA (TRID) regulation and CFCU procedures. Delivers quality member service at all times by performing the following duties:

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.

• Other duties as assigned

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 of experience in loan closing. Experience with FNMA, FHLMC, and investor documentation and packaging requirements preferred.

KNOWLEDGE AND SKILLS:

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

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

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

• Excellent organizational 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.

• Must be able to speak on the telephone for several hours per day.

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.

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, with a particular emphasis on the balancing and delivery of the "Closing Disclosure" when needed and in accordance with the TILA/RESPA (TRID) regulation and CFCU procedures. Delivers quality member service at all times by performing the following duties:

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.

• Other duties as assigned

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 of experience in loan closing. Experience with FNMA, FHLMC, and investor documentation and packaging requirements preferred.

KNOWLEDGE AND SKILLS:

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

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

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

• Excellent organizational 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.

• Must be able to speak on the telephone for several hours per day.

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.

Position Title: Mortgage Loan Closer

Exempt Status: Non-Exempt, Full Time

Reports to: Mortgage Operations Manager

Summary of the Job: Coordinates and prepares all required closing documents for mortgage loan closes, funds and insuring compliance with all Federal/State guidelines and Southside Bank standards. Responsible for insuring funds are appropriately charged, collectedand paid on all loans.

Essential Functions:

Accepts approved mortgage loan files for closing and reviews title commitment, survey and other required documents for compliance with closing guidelines.

Obtains and insures integrity of final legal documents.

Reviews closing documents prior to close for completeness and accuracy including initial HUD-1 Settlement Statement.

Authorizes funding after loan closing and issues funds to Title Company.

Assures loan closing information is accurately entered in mortgage processing system.

Completes internal monetary transaction of all funds and balances all affected accounts and GL's.

Receives closed loan package and reviews for accuracy and completeness.

Prepares loan-closing reports for managements.

Attends product, policy and procedure training meetings as requested.

Possesses knowledge of state and federal mortgage lending regulations and their effect upon mortgage lending activities.

Recommends procedural enhancements for mortgage loan closing functions and helps establish team goals and objectives. Assists in communicating departmental goals and objectives.

Assists in coaching, counseling and training staff on mortgage closing procedures. Helps in evaluating staff training and development needs.

Monitors and audits daily mortgage loan closing reports for various closing functions to determine compliance, integrity and timeliness for closing mortgage loans.

Understands and agrees to abide by the policies and procedures established at Southside Bank.

Must comply with all applicable laws and regulations.

Performs duties in compliance with applicable laws and regulations, including but not limited to the Bank Secrecy Act (BSA) and related anti-money laundering laws, and in accordance with the Bank's Information Security Program.

Maintains a positive and caring atmosphere for customers and employees consistent with the Southside Bank's mission and philosophy.

Provides enthusiastic, professional, and courteous service to Southside Bank customers and employees.

Maintains the security and confidentiality of pertinent information and records.

Continues professional development through training, seminars, membership in professional associations, as applicable.

Additional Functions:

Participates in special projects as assigned.

Performs additional duties as assigned or directed.

RequirementsRequired Education/Experience:

High School graduate, GED, or the equivalent required. Two or four-year degree from an accredited college or university or of equivalent experience is preferred.

Minimum of one years of mortgage loan closing experience.

Necessary Skills:

Self-motivated, dependable, analytical and a problem solver.

Excellent oral and written communication skills.

Proficient in typing, 10-key calculator and data entry.

Physical Activity/Dexterity:

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 essentialfunctions.

Sedentary physical activity performing non-strenuous daily activities of an administrative nature.

Manual dexterity sufficient to reach/handle items and work with fingers. Works with fingers and perceives attributes of objects and materials.

Ability to lift up to 10 pounds.

Physical Environment Demands:

Stand, sit and walk.

Use hands to finger, handle or feel.

Reach with hands and arms.

Climb or balance.

Stoop, kneel, crouch or crawl.

See, hear, speak, read and write.

Ability to concentrate

Working Conditions/Environment:

Well-lighted, heated and/or air-conditioned indoor office setting with adequate ventilation.

Moderate noise (e.g. business office with computers and printers, light traffic).

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.

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At ENTERPRISE BANK, a growing and successful commercial bank, your talents will be recognized and on-the-job tools will help you grow and succeed in our results-oriented, congenial atmosphere. Join our dynamic team and experience a unique workplace culture where success is shared and diversity is celebrated.

Our total rewards philosophy and benefits package are designed to reward you for your hard work while helping you enjoy a healthy and enriched life. We are proud to have been honored multiple times by The Boston Globe as one of the "Top Places to Work" in Massachusetts.

We are headquartered in Lowell, Massachusetts and have a growing network of bank branches in Massachusetts (Acton, Andover, Billerica, Chelmsford, Dracut, Fitchburg, Lawrence, Leominster, Lowell, Methuen, North Billerica, Tewksbury, Tyngsboro, and Westford) and Southern New Hampshire (Derry, Hudson, Nashua, Pelham, Salem and Windham). For more information about Enterprise Bank, please visit www.enterprisebanking.com.

Enterprise Bank is an equal opportunity employer and makes employment decisions without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability or protected veteran status. EOE M/F/Disabled/Vet.

About World Business Lenders (www.wbl.com):
At World Business Lenders (WBL), our motto, "We Lend - You Grow." is simple, yet powerful. We are a direct lender specializing in providing real estate-secured business loans and access to capital to support the growth and development of underserved small-to-medium sized businesses that lack access to traditional bank funding. WBL is led by a strong management team with extensive experience in the financial services industry and employs a disciplined approach to credit analysis and risk management.

Job Description

The Loan Closer will perform various duties, including:

• Perform accurate and complete closing and funding of loans by reviewing files received from Processing for proper completion and accuracy (e.g., that necessary documents are in the file for closing) and ensuring data integrity within the loan origination system.
• Liaise and maintain an open line of communication with various departments, including Production, Title and Underwriting.
• Prepare/verify loan documents and mortgage to be executed by the borrower in order to fund.
• Schedule notary appointments for mortgage execution.
• Prepare funding packages.
• Ensure that all loans are closed in a timely manner and that documentation is valid and accurate.
• Obtain required documentation from the Underwriting department to satisfy conditions for closing that were part of the approval process.
• Exchange funding documents with Title company once the loan file is closed and all necessary documents are signed and completed.
• Ensure that all documents needed for the investor are included in the closing file.
• Perform other projects and duties as assigned.

Requirements

Skills and Qualifications

• Minimum 1 year of proven customer support experience, primarily via phone
• Strong verbal communication and active listening skills
• Ability to perform successfully and thrive in a fast-paced, deadline-driven environment
• Ability to multi-task, prioritize and manage time effectively
• Mortgage processing/closing experience a plus
• Familiarity with Microsoft Office software and ability to learn/navigate Quickbase system

Must be able to satisfactorily complete a background check.
Must be authorized to work in the United States.

Effective English communication skills, both written and oral.

Benefits

Compensation and Benefits:
• Compensation package - $35,000 - $40,000
• Vacation/holiday pay after 90 days and benefit package (Medical/Dental/Vision coverage, Life/Accident/Short-Term Disability insurance/Commuter Plan/401(k) with company match) on first of the month following or coincident with 60 days
EOE M/F/D/V/SO

World Business Lenders participates in E-Verify and will provide the federal government with your Form I-9 information to confirm that you are authorized to work in the United States.

Position Summary

Prepare settlement documents for 1-4 family residential mortgage loans. Work with Realtors, attorneys, title agents and loan officers to coordinate settlement dates. Responsible for post-closing functions, reviewing file accuracy for Quality Control, processing disbursement checks, uploading the loan files to Loan Servicing Department, delivering loans held-for-sale to investors, clearing loan exceptions with investors, insuring government loans, tracking post-closing documentation.

Essential Requirements, Duties, and Responsibilities

• Prepare loan settlement packages and insure that the files contain necessary documents and disclosures with proper signatures, dates and other relevant data and update loan origination system as needed.

• Prepare cashier's checks and initiate wire transfers to ensure funds are available for closings.

• Review files and ensure compliance and secondary market guidelines and/or investor requirements are satisfied for settlement.

• Review closed loan files for Quality Control to ensure all required documentation is present and fully executed and prepare files for quality control audits.

• Prepare loan files to be boarded on Horizon and scanned to Laserfiche.

• Deliver closed loans to the GSEs and private investors.

• Track post-closing documentation and exception issues, ensuring receipt and resolution within required time parameters.

• Prepare documentation for loan funding and sale.

• Obtain insurance on FHA, VA and USDA loans.

• Operate PC utilizing various software including Encompass, Horizon and Laserfiche.

• Answer calls on the rate line.

• Maintain high level of customer service and communication with internal and external customers.

• Responsible for understanding the Bank's BSA/AML Policy, including satisfactory completion of required annual BSA/AML training as applicable to position and appropriately applying this knowledge to daily activities and responsibilities, specifically understanding that any suspicious activity must be reported to the BSA Officer immediately.

• Adhere to the BRAVO Initiative by taking personal responsibility to deepen client relationships by developing cross-divisional partnerships and using the Encore system to record all client sales and service touches.

Educational & Other Requirements

• High school diploma or equivalent

• Associates or Bachelors degree preferred

• Minimum three (3) years experience in Residential Closing, Post Closing or Processing

• Knowledge of secondary market guidelines for conventional, FHA, VA, and USDA Mortgages

• Ability to recognize, evaluate and resolve problems independently

• Superior organization and time management skills

• Proficiency with Microsoft Office suite required; experience with Encompass preferred.

• Must be bondable.

Associated Bank is an equal opportunity employer committed to creating a diverse workforce. We support a work environment where colleagues are respected and given the opportunity to perform to their fullest potential.

We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants with a disability who need assistance applying for a position with Associated Bank are asked to email: colleaguecare@AssociatedBank.com or call: (800) 878-3282.

JOB SUMMARY

Under general supervision, support front-line sales in the preparation of residential mortgage loan closing documents. Critically analyze supporting loan documentation, validate loan is cleared to close, and ensure loan is closed in accordance with underwriting approval.

Address any differences if relevant. Coordinate with other departments and vendors to resolve impediments to closing. Update ELC with final figures, fees and data; rerun AUS as needed.

Identify violations to underwriting loan tolerance limits and resubmit to underwriting for review. Confirm that RESPA, TILA, HPML or HOEPA violations have not occurred prior to sending out final loan closing documents. Accurately prepare closing package and final Closing Disclosure (CD) in compliance with regulatory requirements, investor guidelines and bank policy. Stay current of changes in investor overlays, regulatory and internal guidelines to ensure compliance and loan eligibility.

COMPLIANCE STATEMENT

As a valued colleague of Associated Bank you play a critical role in delivering an exceptional customer experience during every interaction. Expectations for this position require the ongoing focus on building solid and long lasting relationships by engaging all customers in a positive manner.

Colleagues should provide customers a positive experience that includes undivided attention, straightforward and knowledgeable service and insure that the customer's best interests are our number one priority. Consistency around customer experience guidelines is key and expected from all of our colleagues. Our goal is to simplify the customer experience and deliver outstanding service to every customer, every time.

Operates in full compliance with internal policies and procedures as well as applicable regulations and laws, including but not limited to Bank Secrecy Act/Anti-Money Laundering requirements. Responsible to report any procedure or process that doesn't meet regulatory requirements including fraud, whether suspected or confirmed, to management. This reporting can be done directly to any member of management, including Human Resources or Corporate Security, or can be reported through Associated's anonymous Ethics Hotline.

KEY RESULT AREAS

Regulation and Compliance

Documentation

Operational/Procedural Activities

Organizing

Accuracy

Loan Preparation/Review/Documentation

JOB ACCOUNTABILITIES

Review supporting loan documentation for accuracy/consistency and complete Closing Checklist. Confirm rate lock and document expiration dates are valid through the date of closing/disbursement.

Coordinate with appropriate parties to validate loan is clear to close and outstanding conditions have been met. Order payoff statement updates for liens reflected on title commitment and loan approval letter.

Complete final review of title evidence for any inconsistencies. Make arrangements with the appropriate parties to the transaction for correction, ensuring that Associated Bank will have a first lien position on the final title policy.

Contact insurance agents, municipalities, treasurer offices and/or tax assessors to ensure that escrow accounts are set up correctly.

Complete closing screens in ELC with accurate data and fees. Generate/review closing package and instructions including, but not limited to, the note, mortgage, rider(s) and affidavits.

Forward closing instructions to settlement agent to ensure our requirements are met and final loan policy can be issued. Balance fees with settlement agent and update ELC accordingly prior to sending final closing package and any other specialty documents required for closing.

Accurately prepare final Closing Disclosure (CD) for borrower execution at closing. Critically review CD to ensure adherence to regulatory compliance requirements and bank policy.

Ensure RESPA, TILA or TRID timing violations have not occurred. Perform PredProtect test, or manual HOEPA process as applicable. Verify underwriting loan tolerance limits have not been exceeded.

Balance funding amount with settlement agent and wire funds via Associated Connect.

Ensure timely receipt of closed loan package from settlement agent. Review signed loan documents per policy and request outstanding at-closing conditions. Upload/disposition package and ship original signed documents to the Records Department.

Frustrated with Delayed Closings at your Current Job?

Here at NewRez, we Pride Ourselves on Fast Turn Times and Customer Satisfaction.

We Provide Leads! Offer an Aggressive Commission Plan along with a Base Salary!

From the acquisition of New Penn Financial by New Residential Investment Corp. comes NewRez. It's more than just a new name, it's new opportunities! It's an exceptionally strong organization with a reputation for quality and a get-it-done attitude. Now backed by the financial resources, expertise and unparalleled capabilities that will allow us to rise like never before.

Founded in just 2008 as a start-up, we have grown to over 2,170+ employees in over 130 offices and are licensed to lend in 49 states plus DC. We have earned the recognition of Inc. Magazine's 500/5000 Lists of Fastest Growing Private Companies, hold a position on Mortgage Executive Magazine's list of 50 Best Companies to Work For, and regularly appear on the Scotsman Guide list of top lenders, to name a few.

The NewRez Mission:

Exceed the expectations of our residential mortgage borrowers & business partners through superior service, simple processes, and effective communications.

We deliver on this mission by empowering our employees by encouraging and recognizing superior performance and innovative solutions, by promoting teamwork and divisional cooperation.

NewRez pays for all of the leads that you need to be a successful loan originator!

• Numerous products such as FHA, VA, Conventional, Jumbo, HARP, USDA, 203k, and proprietary portfolio products

• Paperless submissions and e-disclosures

• Strong management and training team to assist in reaching your true potential

• Local processing and fast turn times

• Generous compensation package

Responsibilities:

• Originate first home mortgages and refinance loans by responding to company-provided leads via phone in a timely manner from: internet, direct mail campaigns, referrals or other special marketing campaigns

• Provide superior customer service skills by responding to company-provided leads in a timely manner from: internet, direct mail campaigns, radio ads, referrals or other special marketing campaigns

• Originate first home mortgages and refinance loans

• Engage with consumers, determine their needs and offer the appropriate products

• Take mortgage loan applications by phone and prepare effective loan proposals

• Obtain all necessary information to close the loan in a timely manner, including but not limited to: credit reports, income verification, appraisals, lien searches, etc.

• Meet individual monthly sales goals

• Stay informed of developing trends in the mortgage industry

• Maintain compliance with the NewRez Code of Conduct

Qualifications:

• Experience using persuasive, selling communication skills

• Demonstrated ability to connect quickly with people in an outgoing, friendly manner

• Work efficiently and accurately with proven success in a fast-paced environment

• Detail-oriented with demonstrated, careful decision-making skills

• Working independently with minimal supervision

• Possessing basic computer skills

• Passing a background check for state licensing

• Origination experience in the mortgage or banking industry required – multiple mortgage licenses strongly preferred

• Must have originated a loan in the past three months

• Maintenance of mortgage licenses by completing mandatory annual continuing education

• A solid understanding of appraisals, title reports and product guidelines

New Rez's Direct to Consumer Division is expanding and looking to hire successful Loan Officers to join our growing team. Apply today to start your new career!

Location: 6250 Old Dobbin Lane, Suite 110, Columbia, MD 21045

NewRez, LLC is an Equal Opportunity Employer and Equal Opportunity Lender.

Position Summary:

The Jr. Loan Closer is involved in and is responsible for timely and accurate preparation of mortgage loans that have been cleared to close by the underwriting department. Their primary job duties include drawing closing documents.

Qualifications:

• Encompass knowledge

• Attention to detail

Qualifications Required:

• 1+ years in mortgage originations/servicing

• High School Diploma or equivalent

• Knowledge of mortgage related legal documents

• Proficient computer skills including Microsoft Office applications

• Excellent verbal and communication skills

• Ability to manage multiple tasks and projects simultaneously

• Prepare closing instructions and documents, coordinate with Title Company to monitor the closing and funding from start to finish

• Partner with processing and Underwriting to ensure best in class customer service levels

• Ensure that all closing and funding conditions are met as per lender and regulatory requirements