Mortgage Closer

SUMMARY

The Mortgage Closer is responsible for performing routine operational duties related to residential mortgage loans in compliance with the Bank’s policies, procedures and related laws and regulations.  Assists in the loan application process; originates loan documentation and boards loans; conducts loan funding and processes payments or advances as directed; distributes daily and monthly reports; and promotes business for the Bank by maintaining good customer relations and referring customers to appropriate staff for new services.

ESSENTIAL DUTIES

1. Prepare, review, and finalize residential mortgage closing packages for accuracy, completeness, and compliance with investor, agency, and regulatory guidelines.
2. Coordinate loan closings with title companies, attorneys, settlement agents, loan officers, processors, underwriters, and borrowers.
3. Review closing disclosures and settlement statements to ensure fees, loan terms, and funding conditions are accurate.
4. Verify that all underwriting conditions and prior-to-funding requirements have been satisfied before authorizing funding.
5. Balance loan files and ensure all closing documentation is complete prior to disbursement.
6. Fund mortgage loans in accordance with bank policies, investor requirements, and established funding procedures.
7. Review signed loan packages for completeness and obtain missing documentation when necessary.
8. Ensure all collateral documents, liens, and recorded documents are properly executed and delivered for post-closing.
9. Maintain compliance with TRID, RESPA, TILA, HMDA, agency guidelines, and internal policies and procedures.
10. Communicate effectively with internal departments, title companies, attorneys, investors, and customers to resolve issues and facilitate timely closings.
11. Meet established service level agreements and closing deadlines while maintaining a high level of accuracy.
12. Assist with pipeline management by monitoring scheduled closings and proactively identifying potential delays.
13. Maintain detailed records within the loan origination system and document all required funding and closing activities.
14. Support quality control efforts and participate in internal and external audits as needed.
15. Work with mortgage and title companies, contractors, builders, appraisers, real estate agents and other real estate industry professionals as directed.
16. Assist loan officers in the loan application process as directed; follows up on obtaining necessary information and documentation from applicants; coordinates the ordering of credit reports, flood zone determinations and UCC filings; performs title searches, etc.
17. Conduct account research to update customer’s complete banking relationship.
18. Prepare and issue commitment, engagement and decline letters as directed.
19. Originate loan agreements and related documentation as directed utilizing appropriate systems and processes; ensures accuracy, completeness and compliance with the Bank’s policies, procedures and related laws and regulations.
20. Board approved loans in accordance with the mortgage loan agreement on the Bank’s computer system; reviews loan approvals to ensure information is complete; follows up to obtain missing data; inputs pertinent information (i.e., borrower’s name, address, purpose, SIC and CRA codes, loan amount, terms, grade, purpose, collateral, etc.).
21. Set up and maintain credit and other files for documentation, compliance and historical reference; scans all related documentation for electronic retention purposes.
22. Process loan funding requests, payments, draws from lines of credit, and fund transfers as directed by authorized personnel.
23. Work with insurance policies and related reports; contacts agents; works closely with loan officers and customers to ensure proper insurance is received and maintained.
24. Assist loan officers in the processing of loan renewals, ensuring terms compliance.
25. Sort and distribute daily and monthly loan reports to applicable branches or departments.
26. Demonstrate knowledge of and adherence to Equal Employment Opportunity (EEO) policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
27. Assure compliance with all Bank policies and procedures and all applicable state and federal banking laws, rules and regulations.
28. Perform the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions.  The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.

MINIMUM REQUIREMENTS

These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.

• High school diploma or certificate from college or technical school; or related experience and/or training; or the equivalent combination of education and experience. Work related experience should consist of a credit or loan processing background. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be business or financial industry related.
• Basic knowledge of commercial, construction, real estate and consumer mortgage loan origination, documentation and processing.
• Basic level of work experience, knowledge and training in mortgage loan servicing activities and terminology.
• Basic knowledge of related state and federal lending and compliance regulations, and other Bank lending policies.

• Ability to read, analyze and interpret general business periodicals, professional journals, and technical procedures.

• Good organizational and time management skills.

• Basic skills in computer terminal and personal computer operation; host computer system; word processing, spreadsheet and specialty software programs.

• Intermediate typing skills to meet production needs of the position.

• Intermediate math skills; ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.

• Effective verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence and procedures, speak clearly to customers and employees.

• Ability to deal with routine problems involving multiple facets and variables in non-standardized situations.

• Ability to work with general supervision while performing duties.

• Current driver’s license and a vehicle with appropriate insurance coverage if required to drive in the course of performing assigned duties and responsibilities.

Please note that this job description is not inclusive of all activities, duties or responsibilities that are required of this position. Duties, responsibilities and activities are subject to change at any time with or without notice.