Mortgage Closer

About the Role

A Mortgage Closer performs routine operational duties related to residential mortgage loans in compliance with the Bank’s policies, procedures, and related laws and regulations. This role assists in the loan application process, originates loan documentation, boards loans, conducts loan funding, processes payments or advances, distributes reports, and promotes business by maintaining customer relations and referring customers to appropriate staff.

Responsibilities

• Prepare, review, and finalize residential mortgage closing packages for accuracy, completeness, and compliance with investor, agency, and regulatory guidelines.
• Coordinate loan closings with title companies, attorneys, settlement agents, loan officers, processors, underwriters, and borrowers.
• Review closing disclosures and settlement statements to ensure fees, loan terms, and funding conditions are accurate.
• Verify that all underwriting conditions and prior-to-funding requirements have been satisfied before authorizing funding.
• Balance loan files and ensure all closing documentation is complete prior to disbursement.
• Fund mortgage loans in accordance with bank policies, investor requirements, and established funding procedures.
• Review signed loan packages for completeness and obtain missing documentation when necessary.
• Ensure all collateral documents, liens, and recorded documents are properly executed and delivered for post-closing.
• Maintain compliance with TRID, RESPA, TILA, HMDA, agency guidelines, and internal policies and procedures.
• Communicate effectively with internal departments, title companies, attorneys, investors, and customers to resolve issues and facilitate timely closings.
• Meet established service level agreements and closing deadlines while maintaining a high level of accuracy.
• Assist with pipeline management by monitoring scheduled closings and proactively identifying potential delays.
• Maintain detailed records within the loan origination system and document all required funding and closing activities.
• Support quality control efforts and participate in internal and external audits as needed.
• Work with mortgage and title companies, contractors, builders, appraisers, real estate agents, and other real estate industry professionals as directed.
• Assist loan officers in the loan application process, including following up on obtaining necessary information and documentation from applicants.
• Coordinate the ordering of credit reports, flood zone determinations, and UCC filings; perform title searches.
• Conduct account research to update customer’s complete banking relationship.
• Prepare and issue commitment, engagement, and decline letters as directed.
• Originate loan agreements and related documentation using appropriate systems and processes, ensuring accuracy, completeness, and compliance.
• Board approved loans in accordance with the mortgage loan agreement on the Bank’s computer system; review loan approvals for completeness and follow up to obtain missing data.
• Set up and maintain credit and other files for documentation, compliance, and historical reference; scan all related documentation for electronic retention.
• Process loan funding requests, payments, draws from lines of credit, and fund transfers as directed by authorized personnel.
• Work with insurance policies and related reports; contact agents; ensure proper insurance is received and maintained.
• Assist loan officers in the processing of loan renewals, ensuring terms compliance.
• Sort and distribute daily and monthly loan reports to applicable branches or departments.
• Demonstrate knowledge of and adherence to Equal Employment Opportunity (EEO) policy and promote a diverse and harassment-free working environment.
• Assure compliance with all Bank policies and procedures and all applicable state and federal banking laws, rules, and regulations.
• Perform the position safely and report potentially unsafe conditions; comply with occupational safety and health standards.

Requirements

• High school diploma or certificate from college or technical school; or related experience and/or training; or equivalent combination of education and experience.
• Work-related experience should consist of a credit or loan processing background.
• 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; locate routine mathematical errors; compute rate, ratio, and percent.
• Effective verbal, written, and interpersonal communication skills.
• 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.