Mortgage Loan Closer

About the role

Closes all mortgage loans for secondary and in-house portfolio products by performing the following duties.

Responsibilities

• Reviews application/loan approval for completeness, accuracy and proper approval.
• Reviews approved mortgage loan to determine conditions that must be met prior to closing, such as purchase of private mortgage insurance.
• Calls borrower, real estate broker, and title company to request specified documents, such as receipt for payment of outstanding tax bill.
• Coordinates with outside attorney, vendor, etc. to obtain documents based on conditions of loan approval and type of financing.
• Assembles package of mortgage documents and supporting documents received.
• Verifies accuracy and consistency of specifications on documents, such as title abstract and insurance forms.
• Evaluates package and communicates any issues to loan originator and/or processor that impacts loan closing.
• Assists in correction of issues impacting closing.
• Identifies legal, policy, and documentation deficiencies and determines method to be used to correct deficiencies.
• Enters numbers and calculates loan interest, principal payment, and closing costs.
• Assembles documents for delivery to title company, real estate broker, lending officer and/or attorney for closing.
• Delivers ready-to-close package to attorney by electronic delivery through computer system.
• Calls borrower, broker, and other specified individuals to arrange time and date for closing.
• Assists attorney with any questions regarding conditions of loan closing.
• Answers questions from borrower, originator, etc. regarding closing requirements.
• Evaluates documentation on various escrowed items to determine compliance with company policies and procedures.
• Calculates final figures for HUD settlement statement and instructs attorney accordingly paying close attention to final HUD figures.
• Records loan information in log and on government reporting forms.
• Compiles closed loan forms for delivery to Mortgage Post Closers for sale to investors.
• Assists Post Closing Department in audit process and shipping of closed loan files.
• Backs up front desk if Mortgage Support Specialist is out.
• Assists Post Closing in scanning and retrieval of recorded final documents.
• Performs other duties as assigned.

Minimum qualifications

• High school diploma or general education degree (GED); or one to three months related experience and/or training; or equivalent combination of education and experience

Mental and physical requirements

• Ability to work under stress and meet deadlines
• Ability to operate related equipment to perform the essential job functions
• Ability to read and interpret a document if required to perform the essential job functions
• Ability to travel if required to perform the essential job functions
• Ability to lift/move/carry approximately 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an “undue hardship” then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement