Mortgage Loan Closer / Seller
Position Description
The Mortgage Lending Loan Closer / Seller is responsible for the successful Closing, Post-Closing, and Secondary Market duties of 1st trust mortgage loans and home equity loans in a timely manner.
CLOSING: Receipt of a clear to close loan application file from the Mortgage Loan Processor following approval of the loan application by the underwriting department. Responsible for the preparation of closing instructions and performing company procedures required to close and fund residential mortgage loans in accordance with company and investor policies and requirements.
POST CLOSING: Prepares mortgage files for servicing or delivery to investors including putting the file in order & copying or scanning as required by SFFCU and/or investor guidelines. Tracks closed loan files for post funding and trailing document items and initiate any changes/corrections that are needed. Deliver loan files in a timely manner for various internal and external audit channels. Maintain file retention schedule for all shipped files.
SECONDARY MARKET: Responsible for daily updating of mortgage pricing in accordance with Signal pricing guidelines. Process all rate lock and change requests in a timely manner. Ensure that all systems reflect accurate and up to date lock information. Ensure loans are delivered with sufficient time for investor purchase within the commitment period. Actively monitor commitments with investors making necessary changes, and managing expiring commitments
Position Responsibilities
Timely and accurate collection of documentation needed to clear final conditions prior to working up closing instructions
Ensure all loan system data, dates and reporting criteria are complete and accurate
Display thorough knowledge of accounting principles and procedures
Interact closely with management, underwriting, processing, loan officers and borrowers to provide regular updates to achieve goals for production time, pull through and member satisfaction
Coordinate with the title companies to order/process and schedule loan closings
Prepare and send closing instructions as well as, final documents
Audit, correct and issue final approval of Closing Disclosure prior to sending documents to the member
Perform post-closing quality control and work internally and with QC vendor to correct any defects
Once the closed loan packet is received from title office, reconcile closing fees to mortgage general ledger accounts
Demonstrate leadership through personal actions and day-to-day practices that support Signal Financial's FCU core values
Position Requirements
High School diploma or equivalent required
Two to five years of 1st mortgage and home equity closing experience
Must demonstrate knowledge of Fannie Mae/Freddie Mac and FHA guidelines as well as credit union lending policies, procedures, and regulations
Must possess a thorough understanding of the requirements and features of the mortgage loan programs offered by SFFCU, other private investors, and the secondary mortgage market
Excellent oral and written communication skills required
Strong loan math calculation skills including the use of automated spreadsheet development and basic analytics required
Analytical decision-making ability with attention to detail
Ability to multitask and prioritize work as required
PC proficient to include: Word, Excel, Outlook, internet
Familiarity with mortgage loan origination systems and processing software
Finastra MortgageBot LOS experience is a plus
The list of duties and responsibilities is not intended to be all-inclusive and may be expanded to include other duties or responsibilities that management may deem as necessary.
We are proud to be an EEO/AA/Minorities/Females/Disabled/Veterans employer.
About the Company:
Signal Financial Federal Credit Union
Website:
https://sfonline.isolvedhire.com
Apply Now
The Mortgage Lending Loan Closer / Seller is responsible for the successful Closing, Post-Closing, and Secondary Market duties of 1st trust mortgage loans and home equity loans in a timely manner.
CLOSING: Receipt of a clear to close loan application file from the Mortgage Loan Processor following approval of the loan application by the underwriting department. Responsible for the preparation of closing instructions and performing company procedures required to close and fund residential mortgage loans in accordance with company and investor policies and requirements.
POST CLOSING: Prepares mortgage files for servicing or delivery to investors including putting the file in order & copying or scanning as required by SFFCU and/or investor guidelines. Tracks closed loan files for post funding and trailing document items and initiate any changes/corrections that are needed. Deliver loan files in a timely manner for various internal and external audit channels. Maintain file retention schedule for all shipped files.
SECONDARY MARKET: Responsible for daily updating of mortgage pricing in accordance with Signal pricing guidelines. Process all rate lock and change requests in a timely manner. Ensure that all systems reflect accurate and up to date lock information. Ensure loans are delivered with sufficient time for investor purchase within the commitment period. Actively monitor commitments with investors making necessary changes, and managing expiring commitments
Position Responsibilities
Timely and accurate collection of documentation needed to clear final conditions prior to working up closing instructions
Ensure all loan system data, dates and reporting criteria are complete and accurate
Display thorough knowledge of accounting principles and procedures
Interact closely with management, underwriting, processing, loan officers and borrowers to provide regular updates to achieve goals for production time, pull through and member satisfaction
Coordinate with the title companies to order/process and schedule loan closings
Prepare and send closing instructions as well as, final documents
Audit, correct and issue final approval of Closing Disclosure prior to sending documents to the member
Perform post-closing quality control and work internally and with QC vendor to correct any defects
Once the closed loan packet is received from title office, reconcile closing fees to mortgage general ledger accounts
Demonstrate leadership through personal actions and day-to-day practices that support Signal Financial's FCU core values
Position Requirements
High School diploma or equivalent required
Two to five years of 1st mortgage and home equity closing experience
Must demonstrate knowledge of Fannie Mae/Freddie Mac and FHA guidelines as well as credit union lending policies, procedures, and regulations
Must possess a thorough understanding of the requirements and features of the mortgage loan programs offered by SFFCU, other private investors, and the secondary mortgage market
Excellent oral and written communication skills required
Strong loan math calculation skills including the use of automated spreadsheet development and basic analytics required
Analytical decision-making ability with attention to detail
Ability to multitask and prioritize work as required
PC proficient to include: Word, Excel, Outlook, internet
Familiarity with mortgage loan origination systems and processing software
Finastra MortgageBot LOS experience is a plus
The list of duties and responsibilities is not intended to be all-inclusive and may be expanded to include other duties or responsibilities that management may deem as necessary.
We are proud to be an EEO/AA/Minorities/Females/Disabled/Veterans employer.
About the Company:
Signal Financial Federal Credit Union
Website:
https://sfonline.isolvedhire.com
Apply Now