Mortgage Closer

SUMMARY:

Performs and prepares a variety of loan closing documents to coordinate loan closing activities. Ensures conformance with established Bank policies and procedures including the use of approved attorneys insuring all legal, compliance, insurance and guaranty functions are applied.

ESSENTIAL JOB FUNCTIONS & RESPONSIBILITIES:

Closing

1. Coordinates closing function.
2. Manages and expedites pipeline of applications ready to close, ensuring all conditions have been met and clearing any remaining conditions.
3. Prioritizes and coordinates closing schedules for rate lock loans with tight impending deliveries to investors or expiring rate locks. Works in concert with secondary marketing and shipping.
4. Verifies all HMDA data in loan origination system for all loans prior to closing and assists in the preparation of quarterly and annual HMDA Loan Application Register.
5. Generates documentation necessary for compliance; monitors and schedules loan closings with attorneys; and prepares closing documents for attorney review.
6. Reviews settlement statements for accuracy and compliance and coordinates any adjustments with attorneys.
7. Performs pre-closing audit functions.
8. Prepares disbursements on loan closings and responds to closing related inquiries with scope of authority.
9. Keeps abreast of developments within the residential mortgage lending field dealing with consumer laws, regulations and practices surrounding loan closings.

Compliance

1. Ensures compliance with federal, state, and investor requirements for Regulation B.
2. Ensures documentation accuracy and quality for legal compliance and investor loan delivery standards.

Department Operations

1. Offers closing support to all mortgage staff.

QUALIFICATIONS:

EDUCATION & CERTIFICATIONS: (Minimum education required to perform the duties of this position)

• Bachelor’s degree required (or equivalent such as certification from reputable paralegal program).

KNOWLEDGE, SKILLS & ABILITIES:

• Minimum of three years’ experience as a mortgage closer or paralegal performing mortgage closing work. Prior experience as a mortgage processor and/or underwriter desirable.
• Advanced knowledge of consumer laws and regulations related to residential mortgage origination such as the Real Estate Settlement Practices Act and Home Mortgage Disclosure Act.
• Ability to manage multiple priorities at a time. Proven record of being accurate and completing work within pre-determined time constraints.
• Computer knowledge and skills.

COMPETENCIES:

• Must have cyber security awareness to protect the digital environment, the Bank, and customers.