Mortgage Post Closer II

About the Role

Performs duties in support of the mortgage loan closing processing by reviewing loan documents for compliance, completeness, and accuracy. Obtains missing information, prepares files for delivery to investors in compliance with secondary marketing requirements, and provides support to both internal and external partners to ensure on-time delivery/purchase of loans as well as a smooth transition to servicing.

Works closely with settlement agents to obtain all required trailing documents and maintains a working knowledge of all investor post-closing procedures. Demonstrates a deep working knowledge of the post-closing function as well as a foundational understanding of secondary marketing, including experience with post-closing/delivering agency loans (mandatory and best efforts), FHA, VA, USDA, and Virginia Housing. Has extensive experience working with third-party investors and is proficient in their delivery/purchase procedures.

Responsibilities

• Receive files from settlement attorney and immediately review all documents, ensuring they are properly signed and notarized; work to obtain missing information and/or correct inaccuracies as appropriate.
• Ensure all post-closing requirements are met; review, assemble, and deliver closed mortgage loan documentation to outside investors within the lock-in expiration date provided by secondary marketing.
• Clear any outstanding investor/post-closing conditions to ensure the loan is purchased accurately and within investor guidelines.
• Monitor and activate Private Mortgage Insurance on required loans.
• Track receipt of all mortgage-related post-closing data and ensure the Mortgage Loan Origination System is updated appropriately.
• Track, follow up on, receive, and log all trailing documents (Final Title Policy, Recorded Deed of Trust, Recorded Assignments, Recorded Power of Attorney, etc.) while ensuring the mortgage loan origination system is updated appropriately.
• Examine all trailing documents for accuracy and work closely with settlement agents to rectify any issues identified.
• Submit all trailing documents to the purchasing investor in a timely manner and partner with settlement agents, mortgage staff, and investors to rectify any outstanding conditions.
• Ensure final documents are appropriately stored in both digital and physical repositories, including document custodians.

Secondary Marketing

• Develop and maintain a strong partnership with secondary marketing to ensure fluid communication.
• Actively support mandatory selling requirements/timeframes to help maintain hedge positions.
• Prioritize loan files to ensure all mandatory delivery timeframes are met to avoid pair-off fees where applicable.
• Actively communicate any issues with specific loans or third-party investors to ensure swift remediation and smooth loan delivery.

Mortgage Servicing

• Ensure timely delivery of loan documents to mortgage sub-servicer and partner with mortgage servicing liaison to deliver any required trailing documents.
• Ensure all Federal Home Loan Bank grant loans are accurately boarded to the mortgage sub-servicer.
• Input sellable mortgage information into the MERS System while keeping track of all reports related to MERS loans on a daily basis.
• Conduct monthly and annual audits of MERS data.

Reports

• Support mortgage QC processing with timely responses to monthly internal and external audit reviews of closed loans; work with management on process improvements to remediate QC findings.
• Review daily reports in the mortgage loan origination system to determine file priority, follow up on needed items, and ensure timely processing.
• Review investor reports monthly and remediate any outstanding requests for information and documentation.
• Actively work the trailing documents report by contacting settlement agents and requesting required information; work with management to remedy delinquent requests.
• Provide timely updates to management on any roadblocks or issues.

Additional Responsibilities

• Act as an active member of the Closing/Post-Closing team, contributing positively and thoughtfully.
• Maintain positive partnerships with other departments and team members to ensure good communication and a positive member experience.
• Lead and mentor staff while demonstrating a high degree of professionalism.
• Comply with all published enterprise and department-level policies and procedures.
• Complete all required, ongoing enterprise and department-level training.
• Assist with training new hires and contract employees.
• Demonstrate prompt attendance.

Requirements

• High school graduate.
• Prior experience in real estate lending is required.
• Demonstrated experience with Conventional, FHA, VA, USDA, and Virginia Housing post-closing practices preferred.
• 3-5 years of experience in the mortgage/real estate industry.
• Working knowledge of secondary marketing practices is helpful.
• Proficient with computers (e.g., Excel, Word).
• Experience with Encompass LOS is preferred.

Skills

• Strong oral and written communication skills combined with the ability to make sound decisions.
• Strong problem-solving and organizational skills.
• Must be a team player with good attention to detail.
• Ability to be a self-starter and leader is strongly encouraged.

Physical Requirements

• Ability to sit for long periods of time.
• Infrequent lifting or carrying of objects up to 10 pounds.

Pay

Salary range: $50,000 - $56,000

Schedule

In-office 2 days per week, remote 3 days per week.