What are the responsibilities and job description for the Real Estate Lending Post Closer I position at Tower Federal Credit Union?
Job Details
Description
Note: All full-time positions include the option of $0 out-of-pocket premium cost for Employee Only PPO AND exceptionally low premiums for all other PPO coverage levels.
Tower is offering a $1000 Signing/Retaining bonus as of 1/20/2024.
Hours: Monday - Friday 8:00am - 4:30pm.
Hiring Range- $24.82/hr - $31.02/hr
Summary Of Position
The Real Estate Lending Post Closer l (RELPCl) is responsible for the timely and thorough post-closing review of funded home equity loan files and line of credit files. The RELPCl will verify the loan files are complete, have been boarded properly, and are ready for loan servicing. The RELPCl will assist on any post-closing issues that arise escalating to Management as appropriate.
The RELPCl is responsible for obtaining any missing documentation, including missing or unsigned closing documents found during the post-closing review. The RELPCl helps track receipt of recorded security instruments and title policies.
Principal Accountabilities And Functions
Conducts post-closing review of funded home equity loans and lines of credit and acts as a back-up for post-closing first mortgage loans, ensuring that all closing instructions/conditions of the loan approval have been adhered to.
Ensures all loan documents are electronically scanned into the system and prepares collateral files.
Carefully reviews the scanned signed closing packages and notifies the appropriate parties of any deficiencies found.
Works closely with title companies, attorneys, and/or the members, as applicable, ensuring all closing documents have been executed properly, obtains any missing closing documentation and any missing signatures on the closing documentation, or obtains corrected closing documentation as necessary.
Ensures that all trailing post-closing documentation and any documents needing corrections, have been received in a timely manner.
Verifies final title policies received have no exceptions affecting TFCU lien position, as applicable to product type.
Regularly follows up on any outstanding items needed so TFCU can secure and perfect its mortgage lien against the subject collateral property.
Updates the LOS with all necessary status changes and dates, as applicable, as the loan moves through the post-closing review process so reports run accurately and tracking on outstanding loan issues can be monitored.
Helps to resolve any post-closing issues that may arise during the review of the loan file.
Transfers collateral files and other information to the Loan Servicing Department when the post- closing process is completed.
Responsible for performing accurate filing, scanning and record keeping
Responds to post-closing inquiries from RE Lending QA & Compliance or Loan Servicing Department and escalates to Management as needed.
Helps to resolve data discrepancies between LOS and loan documentation.
Gathers loan files for internal and external audit preparation as assigned.
Accesses Member personal and financial information only as required for specific files/cases. Maintains confidentiality and security of all Member information.
Participates in special projects and assignments under the direction of the Assistant Vice President of QA & Regulatory Compliance, Real Estate.
Performs related duties and assignments when assigned by the Supervisor Post Closing.
Required Qualifications
High school diploma or equivalent.
One to Three years of experience as a residential home equity loan closer or post-closer, or similar position.
Experience should demonstrate successful analytical decision making and special attention to detail.
Or an equivalent combination of education and experience.
Possesses a working knowledge of standard loan programs and demonstrates an understanding of the necessary documentation requirements for closing and funding loans.
Demonstrates a general understanding of real estate lending concepts, practices, and procedures including federal and state regulatory requirements.
Knowledge, Skills And Abilities
Ability to interpret, understand, and apply TFCU Real Estate Lending Guidelines, Mortgage Insurer and or other Investor Guidelines.
Ability to multi-task and prioritize work as required.
Ability to work and communicate effectively with TFCU members, real estate agents, title companies and other members of the Real Estate Lending and Servicing teams.
Ability to verbally convey process questions and instructions to other members of the Real Estate Lending Department.
Ability to interpret various procedures and instructions provided in written form.
Ability to work with little oversight and to identify/solve problems and to seek guidance when necessary and to resolve them in an expeditious manner.
Demonstrated computer proficiency to include Microsoft Office Suite (Word, Excel, Outlook), and mortgage loan origination software among other programs used in the department.
Ability to adapt to changes required by internal, market or regulatory environments.
Ability to effectively organize workflow, loan files and documents.
Ability to exercise prudent judgment in decision-making and concerning protection of member confidential information.
Ability to arrive at work routinely and promptly.
Ability to work within stringent time constraints and in a high- pressure environment.
Ability to receive constructive feedback from co-workers and management.
Ability to work in a team environment and demonstrate the ability to help others.
Ability to write business correspondence and complete required loan origination forms.
Ability to effectively represent the credit union to members and third-party strategic partners.
Has knowledge of and adheres to credit union policies and procedures and all regulations related to the bank Secrecy Act, the USA Patriot Act and OFAC.
Working Conditions
Ability to work the hours needed which may extend beyond the defined work schedule when operating conditions dictate.
Ability to lift up to 20lbs., with or without assistance, in compliance with ADA.
Description
Note: All full-time positions include the option of $0 out-of-pocket premium cost for Employee Only PPO AND exceptionally low premiums for all other PPO coverage levels.
Tower is offering a $1000 Signing/Retaining bonus as of 1/20/2024.
Hours: Monday - Friday 8:00am - 4:30pm.
Hiring Range- $24.82/hr - $31.02/hr
Summary Of Position
The Real Estate Lending Post Closer l (RELPCl) is responsible for the timely and thorough post-closing review of funded home equity loan files and line of credit files. The RELPCl will verify the loan files are complete, have been boarded properly, and are ready for loan servicing. The RELPCl will assist on any post-closing issues that arise escalating to Management as appropriate.
The RELPCl is responsible for obtaining any missing documentation, including missing or unsigned closing documents found during the post-closing review. The RELPCl helps track receipt of recorded security instruments and title policies.
Principal Accountabilities And Functions
Conducts post-closing review of funded home equity loans and lines of credit and acts as a back-up for post-closing first mortgage loans, ensuring that all closing instructions/conditions of the loan approval have been adhered to.
Ensures all loan documents are electronically scanned into the system and prepares collateral files.
Carefully reviews the scanned signed closing packages and notifies the appropriate parties of any deficiencies found.
Works closely with title companies, attorneys, and/or the members, as applicable, ensuring all closing documents have been executed properly, obtains any missing closing documentation and any missing signatures on the closing documentation, or obtains corrected closing documentation as necessary.
Ensures that all trailing post-closing documentation and any documents needing corrections, have been received in a timely manner.
Verifies final title policies received have no exceptions affecting TFCU lien position, as applicable to product type.
Regularly follows up on any outstanding items needed so TFCU can secure and perfect its mortgage lien against the subject collateral property.
Updates the LOS with all necessary status changes and dates, as applicable, as the loan moves through the post-closing review process so reports run accurately and tracking on outstanding loan issues can be monitored.
Helps to resolve any post-closing issues that may arise during the review of the loan file.
Transfers collateral files and other information to the Loan Servicing Department when the post- closing process is completed.
Responsible for performing accurate filing, scanning and record keeping
Responds to post-closing inquiries from RE Lending QA & Compliance or Loan Servicing Department and escalates to Management as needed.
Helps to resolve data discrepancies between LOS and loan documentation.
Gathers loan files for internal and external audit preparation as assigned.
Accesses Member personal and financial information only as required for specific files/cases. Maintains confidentiality and security of all Member information.
Participates in special projects and assignments under the direction of the Assistant Vice President of QA & Regulatory Compliance, Real Estate.
Performs related duties and assignments when assigned by the Supervisor Post Closing.
Required Qualifications
High school diploma or equivalent.
One to Three years of experience as a residential home equity loan closer or post-closer, or similar position.
Experience should demonstrate successful analytical decision making and special attention to detail.
Or an equivalent combination of education and experience.
Possesses a working knowledge of standard loan programs and demonstrates an understanding of the necessary documentation requirements for closing and funding loans.
Demonstrates a general understanding of real estate lending concepts, practices, and procedures including federal and state regulatory requirements.
Knowledge, Skills And Abilities
Ability to interpret, understand, and apply TFCU Real Estate Lending Guidelines, Mortgage Insurer and or other Investor Guidelines.
Ability to multi-task and prioritize work as required.
Ability to work and communicate effectively with TFCU members, real estate agents, title companies and other members of the Real Estate Lending and Servicing teams.
Ability to verbally convey process questions and instructions to other members of the Real Estate Lending Department.
Ability to interpret various procedures and instructions provided in written form.
Ability to work with little oversight and to identify/solve problems and to seek guidance when necessary and to resolve them in an expeditious manner.
Demonstrated computer proficiency to include Microsoft Office Suite (Word, Excel, Outlook), and mortgage loan origination software among other programs used in the department.
Ability to adapt to changes required by internal, market or regulatory environments.
Ability to effectively organize workflow, loan files and documents.
Ability to exercise prudent judgment in decision-making and concerning protection of member confidential information.
Ability to arrive at work routinely and promptly.
Ability to work within stringent time constraints and in a high- pressure environment.
Ability to receive constructive feedback from co-workers and management.
Ability to work in a team environment and demonstrate the ability to help others.
Ability to write business correspondence and complete required loan origination forms.
Ability to effectively represent the credit union to members and third-party strategic partners.
Has knowledge of and adheres to credit union policies and procedures and all regulations related to the bank Secrecy Act, the USA Patriot Act and OFAC.
Working Conditions
Ability to work the hours needed which may extend beyond the defined work schedule when operating conditions dictate.
Ability to lift up to 20lbs., with or without assistance, in compliance with ADA.
Salary : $25 - $31
