Real Estate Loan Closer/Funder

CA - San Diego

Pay Rate : $24 - $25 per hour

SUMMARY : Prepares, closing disclosures, closing documents and funds Refinance and

Equity mortgages ensuring quality, accuracy, and receipt of proper conditions within the

regulatory guidelines of TILA, RESPA, ECOA, HMDA, and ESIGN Act. Performs loan

data entry and sends closing packages in adequate timeframes to ensure excellent

member service. Ensures funding procedures are followed and verifies loan closing with

Settlement Agents. Works with escrow and title companies to ensure adherence to

Mission Fed's policies and procedures. Ensures proper title coverage is requested, along

with endorsements as per transaction and property type. Meets underwriter conditions.

KEY RESPONSIBILITIES :

1. Maintains a closing pipeline by completing closing documents within company

stated timeframes, providing final funding authorization to closing agents, and

adhering to wire cut-off times.

2. Prepares and delivers Closing Disclosures in accordance with all TRID

requirements under Regulation Z (TILA) and Regulation X (RESPA). Reviews

and approves Escrow Settlement Statement in accordance with State and Federal

regulations. Monitors the accuracy of Timing and Delivery requirements for

closing purposes by verifying delivery and receipt of initial Loan Estimate and

any revisions prior to creating initial Closing Disclosure.

3. Identifies and discloses fee tolerance cures related to applicable fees being added

or increased without being properly disclosed. Notifies Closer / Funder Team Lead

and Closing Manager.

4. Examines and reviews files for completion, including title commitments,

settlement statements, payoffs, subordinations. Orders all necessary documents

for loan closing. Prepares loan closing documents. Balances accounting on each

file to ensure proper funds are wired, payoffs are accurate, export files to servicer

director or Symitar as required. Ensures the accuracy of data and attention to the

correct account number.

5. Updates Mortgage Cadence with dates and methods of delivery of Closing

Disclosures and loan documents. Confirms Timing and Delivery details regarding

initial Loan Estimate and revised Les, when applicable. Ensure the Intent to

proceed and the initial TRID documents, Final 1008, are present prior to releasing

loan documents.

6. Supports loan closings performed by settlement agents and branches. Reviews

Escrow Settlement statements on refinance transaction to ensure accurate figures

and cost. Sign off on underwriter and standard required conditions.

7. Respond to members concerns with questions regarding loan document forms,

closing timeframes, and basis questions of data as it pertains to the closing of a

file. Order property title endorsements and ensures documents are delivered to

escrow timely. Ensure accuracy of closing documents to meet financial industry

regulations. Assembles and verifies all the closing documents required by the title

company and investors.

8. Prepares files for funding :

a. Determines acceptability of closing documentation in meeting

underwriting criteria.

b. Signs off on outstanding pre-funding conditions as circumstances require.

c. Prepares final figures and disburses loan proceeds to escrow or title.

d. Ensures loan documents and signatures are accurate and complete,

identifies deficiencies to be addressed with Closer / Funder Team Lead.

e. Analyze the Flag on equity transactions to ensure position placement,

order insurance as required, prepare the final closing numbers, and ensure

payoffs are updated and delivered on time.

9. Disburses proceeds via checks and / or wires, and coordinates with Finance and

Loan Servicing. Accurately disburses proceeds through appropriate general ledger

transactions.

10. Balances daily transactions, verifies checks are in balance, and all general ledgers

are debited / credited correctly. Balances branch teller totals, when scheduled.

11. Implements policies and procedures as required.

12. Assists with Real Estate team phone queue to ensure member service levels are

held to a high standard. Assist with initial disclosures and compliance as needed.

13. Ensures members receive their proceeds in accordance with regulations in a

timely manner. Ensures all payoffs are completed in a timely manner, the terms

of approval have been satisfied upon closing, and all closing functions have been

completed.

14. Maintains in-depth knowledge of and complies with all Mission Fed,

departmental and security policies, and procedures, as well as federal regulations

applicable to the position, including BSA requirements. Completes all required

compliance training as assigned.

15. Performs other duties as assigned.

QUALIFICATIONS :

Education : High School Diploma, G.E.D., or equivalent is required.

Experience : A minimum of three years of previous funding / closing experience (or

equivalent real estate lending experience) is required. Experience in escrow

administration (knowledge of rules and regulations) is strongly desired. Experience

should include both first and second trust deed loans (e.g., HELOCs and refinances).

Detailed understanding of regulatory compliance guidelines and requirements (set by the

applicable regulatory board(s)) within the TILA-RESPA Integrated Disclosure

amendments to the Truth in Lending Act (Regulation Z) and Real Estate Settlement

Procedures Act (Regulation X), Section 43 of Regulation Z including Higher Priced

Mortgage Loans, HOEPA Section 32 tolerances, Electronic Signatures in Global and

National Commerce Act (ESIGN), Equal Credit Opportunity Act (Regulation B), Flood

Disaster Protection Act is necessary.

COMPETENCIES :

Skills & Abilities : Ability to handle multiple files in a fast-paced environment. Strong

attention to detail and organizational skills. Must possess good verbal and written

communication skills with members, internal staff members, and third parties. The ideal

candidate will possess effective presentation, interpersonal, and customer service skills.

Reliability, flexibility, and adaptability are necessary skills to the continuously changing

lending environment and staffing needs of the Real Estate Originations department. A

positive and professional demeanor is required, along with the ability to work as a team

with other members of the Real Estate Loan Originations department. Basic

understanding of closing requirements pertaining to HOEPA, HPML and TRID

regulations.

Software : Microsoft Office Suite, Internet, Symitar, All Regs., Mortgage Cadence and

Imagility software, Servicing software.

PHYSICAL DEMANDS / WORKING CONDITIONS :

Constant sitting.

Frequent repetitive use of the hand involving simple grasping.

Occasional lifting & carrying 0-25 lbs.

Salary : $24 - $25