What are the responsibilities and job description for the Mortgage Closer position at Directions Home Loan?
SUMMARY
The Mortgage Loan Closer will be responsible for closing and funding all
loans according to the proper product type, investor, agency and internal guidelines, state and federal guidelines, and all Company processes and procedures in an accurate and timely manner. The Closer is responsible for the accurate preparation of compliant closing documents to ensure they are salable on the secondary market. The Closer will communicate with client, internal staff, and other outside agencies to facilitate all closing / funding issues in a timely manner.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Review files received from processing thoroughly to check if all documents needed for closing are available.
- Make calls to any concerned third parties with to schedule loan closing.
- Coordinate with Title Company for setting up closing schedule.
- Revert to processing for any missing documents needed.
- 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.
- Manage the document management system to show only relevant documents and correct names.
- The closer is the next in line to check the processor's work for completion.
- The mortgage loan closer usually has 24 to 48 hours to complete the file and ready it for closing. After the closing, the closer usually has 15 Business day to ensure that the loan has funded, and the paperwork is complete for compliance standards with the investor.
- Review loans and accurately complete all data input into mortgage loan origination system and Closing Document Management System for preparation to order closing documents.
- Issue accurate and complete closing documents to Title Company or closing agent within three days of scheduled closing date.
- Review HUD / CD for accuracy and compliance to all loan product parameters and issue HUD / CD Approval.
- Order wires from approved warehouse bank in accordance with their loan level requirements.
- Issue funding authorization after documentation has been reviewed and found to be correct.
- Ensure any trailing documents are collected and filed within the correct electronic mortgage loan origination system container for shipping to the investor.
- Other tasks and responsibilities as assigned.
EDUCATION AND / OR EXPERIENCE