Home Loan Senior Post Closer

General Description

The function of this position is to review closed loan files for documentation accuracy; and ensure closed loans are properly setup and shipped to Investors, Agencies, GSEs and/or sub-servicer for either loan purchase, insuring or servicing on a timely basis to meet commitment expiration or file delivery deadlines. In addition, ensure that loan files are purchased timely and accurately.

Tasks, Duties, Functions

• Complete Post Closing tasks: 1) Assign sub-servicer loan numbers to funded 1st mortgage loans, 2) Complete MERs registration on funded 1st mortgage loans, 3) Link mortgage loans in Teller navigator to member's accounts for on-line viewing and access, 4) Complete MI documentation to setup Mortgage Insurance.
• Obtain final Settlement Statement from Escrow. Review final Closing Disclosures, make corrections as needed and issue Post Consummation Closing Disclosure if corrections are made.
• Review the e-folder in Encompass on recently closed loans to ensure that all required documents for the Investors, Agencies, GSEs and/or sub-servicer are contained in the e-folder and filed under the appropriate placeholder. Ensure required documents are complete and original note/riders and all trailing documents are obtained and stored in fireproof filing cabinet. Shred remaining paper loan documents.
• Upload electronic files and send physical collateral packages to Investors, Agencies, GSEs and/or sub-servicer on recently closed loans for either loan purchase, insuring or servicing on a timely basis to meet commitment expiration or file delivery deadlines.
• Upload loan data via GSE loan delivery portals for loan purchase on a timely basis to meet loan delivery requirements and deadlines.
• Send required documents and/or request shipment of required documents, including the note, to the applicable Document Custodian (GSE, Agency or Golden 1) timely to meet loan document delivery deadlines.
• Clear suspense items and ensure loans are purchased and/or insured by applicable Investors, Agencies and GSEs.
• Independently coordinate and complete monthly TENA audits.
• Work independently within MERS systems to perform all required MERS validations and functions, including reporting.
• Assist management with new employee and new process training. Assist with Post Closer file assignment as needed.
• Proficient in Processing Transactions within Host/Datasafe as it pertains to Home Loans.
• Reconcile purchase advices on Investor purchased loans and research any credits or checks from Investors, Title Companies and/or Vendors for principal reductions, funding overages or fee overages and forward to appropriate Accounting area.
• Follow up and obtain outstanding funding conditions on closed loans. Provide updates to management on a regular basis.
• Communicate and interact with title companies, member(s), management, loan officers, Investors, GSEs, Agencies and other third party service-related vendors. Identify, investigate and respond to requests and inquiries in a timely manner.
• Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws appropriate to the position.
• Perform functions in accordance with Golden 1's performance competency standards.
• Perform additional duties as assigned by the Manager.

Qualifications

• Education: Associate of Arts degree in Business or Finance is required. Equivalent work experience may be substituted for college degree.
• Experience: Three or more years of responsible mortgage lending experience within a Post-Closing department of a mortgage/financial institution.
• Knowledge/Skills:
  • 1-3 years' experience in post-closing, including FHA and VA insuring
  • Strong member relation skills
  • Solid oral and written communication skills
  • Solid analytical skills
  • Ability to use logical reasoning, make objective observations, evaluations and recommendations
  • Innovative with high-initiative in all activities
  • Knowledge of Secondary market guidelines related to loan delivery and purchasing
  • Maintain knowledge of mortgage industry and knowledge of G1 loan programs
  • Attend training provided through seminars, webinars and weekly coaching as compliance, policies/procedures, or work processes dictate change

Physical Requirements

• Prolonged sitting throughout the workday with occasional mobility required
• Corrected vision within the normal range
• Heavy telephone volume and computer usage
• Hearing within normal range. A device to enhance hearing will be provided if needed.
• Ability to lift 15 lbs. as may be required
• Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
• Unusually long work hours may be required to accomplish tasks
• Ability to adhere to company established standards for mortgage volume and delivery and purchase turn time expectations.

Organizational Contacts & Relationships

Internal: Credit Union management and all levels of staff.

External: Members, title companies, escrow agents, real estate agents, credit reporting agencies, mortgage insurance companies, branches, Investors, GSEs, Agencies, and others as needed.

This response is AI-generated, for reference only.