Sr Mortgage Loan Closer

Description Major Function
The primary purpose of a Loan Closer is to manage the customer relationship through the closing process. This will include efficient use of our technology systems to apply proper closing and funding procedures for all types of first and second mortgages. The Consumer Services Operations Closer will obtain essential documentation to accurately prepare closing documents and disburse funds in accordance with salability guidelines. A Loan Closer must have knowledge of internal policies and procedures and adhere to requirements of secondary market sources (FNMA/FHLMC, FHA, VA, private investors, and all Home Equity products).
The Loan Closer is expected to proactively create and maintain a close relationship with all parties involved in the mortgage transaction. Superior Customer service is paramount to meet both internal and external expectations.

The Consumer Operations Services Closer works as part of a Team but is individually responsible to prioritize their own tasks to appropriately balance the position’s fulfillment demands. Adherence to established turn time, productivity and quality metrics is a requirement. The Loan Closer is to use independent judgment/decision-making to look at ways to improve the fulfillment process through information received from our customers.
Specific Duties

1.Maintain close communication with customers, Sales partners, third party Vendors and Operations Team Lead to ensure proper and timely fulfillment.
2.Send written requests or make phone calls to customers, attorneys, Realtors, and other third parties to obtain additional information required.
3.Use of fulfillment system as a tracking method to record status and customer information.
4.Review and apply new information received regarding investor and underwriting guidelines, company policies, processing procedures, etc.
5. Issue customer correspondence. Follow Re-disclosure requirements, TILs and any agency specific documents.
6.Verify underwriting and funding conditions are signed off on underwriting approval
7.Review title requirements for state specific mortgage attachments and /or state mortgage tax requirements. Ensure borrower obtains adequate Homeowners insurance coverage (flood, wind)

8.Gather and prepare information for completion of closing documents including 3rd party fees, payoffs and subordinations. Schedule the closing.
9.Confirm loan information in the fulfillment system is accurate. Verify loan terms including rate, term, price and ratios have not gone outside of allowable tolerances per established guidelines.
10.Perform State High Cost testing (if applicable by state) and take action required to ensure the loan is closing within guidelines

11.Prepare and deliver closing documents within required timeframe.
12.Review final Hud-1 for accuracy and compliance. Reconcile within the fulfillment system. Verify seller and lender credits, funds on deposit, payoff of debt (if applicable) and ensure borrower has met minimum investment requirements (if applicable)
13.Follow up with closing/escrow agent to verify consummation of loan, disbursement of funds and advise of any problems or concerns.

14.Reconcile loans that have not funded and retrieve funds from closing agent.

15.Ship loan to post closing in accordance with stacking procedures.

16.Meet established productivity levels and turn around times as set by National Operations.

17.Perform various additional tasks as assigned.

The Consumer Service Operations Closer will work with many parties throughout the loan process (e.g. customers, loan originators, Realtors, builders) and must make decisions which will be in the best interest of our customer and in alignment with company policies and procedures. This position will investigate and eliminate problem situations as well as perpetuate successful customer contacts. The Loan Closer will identify any customer issues and offer solutions/options in order to exceed the customer’s expectations. The Loan Closer must also be able to determine when his/her manager needs to be brought in on a decision.
When making decisions, the Loan Closer will need to consider the customer, other parties involved in the process, Company policies and procedures, TIL regulations, underwriting guidelines, investor and agency guidelines, marketing programs and the GMACM Compliance and Ethics Code.
The Consumer Services Operations Closer must rely on his/her problem solving abilities to determine the appropriate documentation and procedures for each loan application.

While this job description is intended to be an accurate reflection of the job requirements, management reserves the right to modify, add, or remove duties from particular jobs and to assign other duties as necessary.

Requirements Requirements
This position requires at least two years of Closing experience. Fulfillment experience including Processing or Underwriting knowledge a plus. A thorough understanding of conventional, Home Equity, FHA, VA and Bond program underwriting guidelines and the ability to apply guidelines to individual loan files is necessary.
A high school diploma is required, and a bachelor’s degree is preferred. Courses in Real Estate, appraising, mortgage banking and communications would be extremely helpful.
This position also requires the following characteristics:
1. Excellent communication skills (written, verbal, listening)
2. Excellent interpersonal skills
3. Sound judgment skills
4. Detail oriented and well organized
5. Ability to handle multiple priorities and produce results
6. Ability to work independently as well as part of a team
7. Ability to handle frequent changes
8. Ability to maintain confidentiality and adhere to company privacy polices
9. Ability to meet attendance standards and work overtime as determined by Operations Team Lead
10. Creative/innovative problem solver
11. High level of integrity
12. Self motivated/takes initiative
13. Bi-lingual skills a plus
14. Proficiency with computers and the keyboard