Residential Mortgage Closer

Position Summary

The Residential Mortgage Closer is responsible for preparing, reviewing, and delivering closing packages and instructions to settlement agents. This role supports branches, sales, and operations functions by providing accurate, timely, and professional communication and ensuring loan packages meet specific investor requirements.

About the Role

This position plays a crucial role in the mortgage process, ensuring compliance with regulatory standards and facilitating the timely delivery and funding of loans.

Responsibilities

• Prepare closing package and instructions and investor required documents
• Review HUD-1 settlement statement for accuracy and completeness
• Coordinate and communicate with attorney, title company, settlement agent, loan officer, and processor in scheduling all closings
• Verify accuracy of information on all closing documents (legal names, legal address, terms, rate, title work and insurance)
• Track closing file to confirm its return from the settlement agent in a timely manner
• Review and assemble post-closing package for delivery to investor, ensuring all documents are accurately signed and dated
• Assure loan package is complete with any investor-specific requirements
• Ensure timely delivery, follow-up on post-closing conditions, and funding of investor loans to maximize profitability on all loans
• Ensure compliance with all FNMA, investor guidelines, as well as all state and federal laws
• Examine loan documentation to ensure accuracy and compliance with all state and federal policies
• Communicate with mortgage sales, operations, and management to maintain high levels of customer service
• Maintain a high level of efficiency to ensure closing dates are met
• Maintain current knowledge of all industry and bank program changes, policies, and procedures
• Communicate with management on a loan-by-loan basis to recommend exceptions to policy

Requirements

• 3-5 years closing experience required
• Ability to analyze title reports, HUD-1’s, tax searches, and insurance policies
• Detailed knowledge of regulations such as Truth in Lending and RESPA
• Detailed knowledge of standard closing procedures
• Extremely organized and detail-oriented
• High school diploma or equivalent required
• Four-year college degree preferred
• Excellent communication skills, both written and verbal
• Excellent computer skills in a Microsoft Windows environment including proficiency in Word, Excel, and Outlook

Skills/Knowledge/Abilities

• Ability to calculate figures and amounts
• Ability to read, analyze, and interpret legal documents, government regulations, and professional publications
• Ability to present information and respond to inquiries from senior management, attorneys, vendors, government agents, and the general public
• Ability to create and generate reports
• Ability to work independently with little supervision

Education and Experience

Education and experience requirements for this position include 3-5 years closing experience, detailed knowledge of regulations such as Truth in Lending and RESPA, detailed knowledge of standard closing procedures, and ability to analyze title reports, HUD-1’s, tax searches, and insurance policies. A high school diploma or equivalent is required, with a four-year college degree preferred. Excellent communication and computer skills are also essential.

Additional Functions

Assist Loan Officers by reviewing closing scenarios, maintaining a high level of efficiency to ensure closing dates are met, and communicating with management on a loan-by-loan basis to recommend exceptions to policy.

Salary

$24.07 - $31.57 per hour