Compiles documents and maintains effective control of the loan closing function for residential mortgages and home equity lines of credit. Ensures that all closing and legal documentations are prepared in accordance with applicable Federal, State and NCUA rules and regulations, in addition to conventional and UNFCU guidelines. Reviews all closing conditions, title binders, and surveys prior to closing. Assumes ultimate responsibility for accuracy of loan booking and disbursement of funds. This includes, but is not limited to, scheduling closings, coordinating closings with outside attorneys, and conducting all in-house closings, as well as the preparation and review of legal documents and title closer responsibilities.
• Review clear to close checklist pre-closing to ensure completeness and compliance, including: title report review, mortgage payoff information, proposed assignment information, and homeowner’s/flood insurance.
• Communicate closing information to attorney, title company, real estate agents, loan originators and members.
• Audit file to ensure accurate borrower information and disclosures.
• Review title binder, survey, insurance binder, termite certificate, underwriting conditions, etc. to ensure that all necessary documents are complete.
• Determine if all information is finalized for settlement.
• Prepare settlement packages and review for accuracy.
• Review loan booking and disbursement for accuracy, including equity line postings and ordering of checks. Sign disbursement checks as required. Wire out all payoff funds as required. Send out required documents to the title company/county clerk as required. Send out all mortgage payoffs, tax/insurance payments, and title company funds for refinances.
• Ensure that all residential mortgage loans are closed within guidelines set forth by investor requirements.
• Ensure closings are coordinated and/or scheduled within a reasonable timeframe. Attend and conduct all in-house closings and perform the role of the title closer for employee loans, which includes but is not limited to: marking up the title binder, confirm tax payments and mortgage payoffs, assignments of mortgage, title affidavits, etc. Serve as Notary Public as needed.
• Answer to QC report and audit findings as requested.
• Provide hands-on assistance for post-closing.
TYPE & AMOUNT OF EXPERIENCE:
• Associate’s degree and three years of experience performing mortgage closing functions in a medium to large sized organization
• Notary public
• Intermediate Microsoft Word, Excel and PowerPoint skills
• Strong knowledge of institutional guidelines and the ability to analyze data and make appropriate on the spot decisions
• Knowledge of mortgage products and ability to analyze related mortgage documents
• Proficient in first and secondary market closing requirements and mortgage terminology
• Full knowledge and understanding of RESPA, Regulation Z, CFPB, title insurance, title reports, notes, mortgages and related documentation
• Excellent oral and written communication skills
• Sales and customer service orientation
• Requires the use of independent judgment on issues that are complex, interpretive and evaluative in nature
• Standard office conditions
• Willingness to work flexible hours as needed
In addition to any specific job requirements in connection with Bank Secrecy Act and/or OFAC (BSA), employee must (i) be aware of BSA matters commensurate with the position; (ii) report any suspicious activity to the manager or compliance department; and (iii) satisfactorily complete any required BSA training.