Job Posting Memorandum

Date: 06/12/2017

POSITION:40 HR Mortgage Loan Closer

Salary Range: commensurate with experience, other benefits include health insurance, retirement contribution, paid holidays, and 2 weeks paid vacation.

Department or Branch Location: Mortgage Loan Department

Supervisor: Tammy Tucker

Description of Position Function: As a Mortgage Closer, you will be involved in and responsible for timely and seamless closing and funding of all loan transactions that have received final approval from underwriting approval. The Closing team is responsible to coordinate with the Borrower, Loan Officer, Processor, Title Company and the Underwriting team to set up closing date and time and ensure that each party involved is accurately informed about the closing details and procedures. The Mortgage Closer will review the file, prepare the settlement statement and closing package, and fund the loan

JOB DUTIES AND RESPONSIBILITIES

Performs the following duties and responsibilities related to Loan Closer:

  • Coordinate with loan officer and loan processor to schedule the closing date, time and location
  • Review files received from processing thoroughly to check if all documents needed for closing are available. Work with processing to obtain any missing documentation. The closer is the next in line to check the processor's work for completion.
  • Review files for to ensure all the fees and cost are accurately calculated.
  • Prepare closing instructions and coordinate with Title Company to monitor the closing and funding.
  • Ensure all at close and funding conditions are met as per investor requirements.
  • Closer must have strong computer skills and proficiency with loan industry software, in addition to a working knowledge of word processing and spreadsheet programs.
  • Closer should have current knowledge of loan closing and documentation procedures, closers must have solid math and calculation skills.
  • The mortgage loan closer usually has 48 hours to complete the file and ready it for closing.
  • Verification of accuracy and consistency of all the loan information from application documents, title, appraisal, insurance which also includes updating LOS system
  • Closer completes all the closing paperwork on behalf of the lender to send to the title Company and/or real estate attorney to complete the closing.
  • Reviews approved mortgage loan to determine conditions that must be met prior to closing and funding such as purchase of private mortgage insurance, Taxes & HOI to be paid.
  • Coordinating with the Lender and attorney on CD approval and final loan Document.
  • Funding the loan after complete verification of the signed documents and ensuring compliance to relevant state/lender guidelines.
  • Working on secondary market loans to satisfy all the requirements of the investors to sell the loan in the market.

Job Skills and Qualifications Required:

  • High school or equivalent degree
  • Two to Three years of closing experience.
  • Thorough knowledge and understanding of RESPA guidelines and TRID
  • Familiarity with Encompass is preferred, but not required.
  • Good organizational skills and attention to detail are required.
  • Must possess good mathematical and sound judgment skills.
  • Ability to manage workload to coordinate multiple tasks.
  • Ability to operate standard office machines along with good telephone etiquette.
  • Excellent interpersonal skills are necessary to effectively deal with borrowers and information contacts.

Deadline: Until position is filled.

IF you have any questions concerning this opening, please feel free to contact Mindy Buhrmaster.