JOB SUMMARY: Due to the highly regulated nature of the mortgage business, the mortgage loan processor/closer is responsible for ensuring the loan is disclosed and closed following all applicable mortgage-lending regulations. The ideal candidate will be able to juggle numerous tasks, be detail-oriented, and work well independently and under pressure. The Mortgage Loan Processor/Closing Coordinator will perform ordinary tasks associated with processing and closing mortgage loans.
To succeed in this role, it's important to be customer-oriented, attention to detail and a thorough knowledge of mortgage lending. This team member will be responsible for timely and accurate loan estimates, coordinates, prepares and schedules mortgage closings in conformance with established policies and procedures. Consistently provides outstanding and professional financial services. Exceeds customer expectations and expands financial relationships by actively selling and cross selling quality banking products and services to individual, family and business customers.
ESSENTIAL FUNCTIONS - Listed below are some of the essential functions to carry out this job. Prepare and disclose application package per industry timeline to the clients. Process loans from origination to close in compliance with established regulations and guidelines. These loans include secondary market, and portfolio loan products such as construction loans, land loans, bridge loans, and other consumer real estate loans, as they may arise. Communicate with applicants and loan officers to gather additional information and resolve any issues Manage a pipeline of loans, with a focus on meeting critical date deadlines. Act as a backup to teammates Review loan applications and ensure all required documents are complete and accurate. Recognize and collect needed documentation from clients and third parties. Analyze all credit reports, income, asset and other needed documentation per program guidelines, to determine LTV, DTI, enabling submission to Underwriting for a condition free approval. Maintain knowledge of and follow all Internal, Federal and State mortgage loan compliance regulations and policies. Acts as the main point of contact for borrower during loan process, including meeting with the borrower to execute the loan documents and close the loan. Ensure the loan documents are delivered and executed. Reviews commitment letters. Monitors fees, closing costs, conditions and disclosures. Refers and reviews mortgage loans with attorneys. Prepares notes and closing documents. Initiates requests for missing or incomplete information. Communicates with customers and maintains records of all documents ordered, requested and received. Resolves title problems with borrower and law offices and cures deficiencies. Schedules and coordinates closings. Works with attorneys in obtaining payoff figures. Performs computer file maintenance. Maintains ongoing loan files. Performs second mortgage closings. Monitors closing and funding pipeline on a daily basis to ensure workflow is completed in a timely manner. Audits closing packages to ensure accuracy, completeness and compliance with all regulatory and secondary market guidelines. Cross-sells and makes referrals for other financial institution products and services. Other duties may be assigned if necessary. SUPERVISORY RESPONSIBILITIES - None
QUALIFICATIONS, EDUCATION REQUIREMENTS AND PREFERRED SKILLS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Incumbents in this position must be registered by the NMLS in order to take residential loan applications or negotiate residential loan rates.
The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. High School diploma or equivalent; Associates Degree preferred. Minimum two (2) years previous loan administration experience required. Must have experience with Loan Estimate & Closing Disclosure under TILA - RESPA Integrated Disclosure rule implementation and regulation. Three years' TRID experience in closing/funding since 2015. Must be able to multi-task and work well in a fast-paced environment. Ability to respond effectively to the most sensitive inquiries or complaints. Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions and deal with several variables. Excellent customer service and organizational skills. Intermediate word processing and spreadsheet experience. Ability to read and interpret documents such as memos, contracts, loan documents, disclosures, training manuals, help screens and policy and procedure manuals. Ability to communicate effectively with colleagues and customers of the Bank. Ability to work onsite (this is not a remote position). Thorough knowledge of loan disclosures, loan closing documents, post-closing and loan file review functions, specifically loan documentation requirements. Must be able to work in a team environment with the ability to interact well, and in a positive manner, with co-workers and management. WORKING CONDITIONS: The work environment characteristics described here are representative of those the employee encounters while performing the essential functions of this job.
Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee is generally required to stand and walk. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.
Work Environment: Typical office environment. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.