Mortgage Loan Closer

Why Liberty First Credit Union?

Join the best small company to work for in Lincoln and Omaha! We have 100 employees and 6 locations in the Lincoln and Omaha area.

Our associates and members are key to our success as a Credit Union. Our goal is to continually strive to make LFCU a great place to work by providing meaningful work, career development, and professional development opportunities. Our benefits and associate programs are some of the most competitive and low-cost to associates amongst Nebraska employers.

Position – Mortgage Loan Closer

Location – Lincoln

General Summary

Coordinates the overall mortgage loan closing and post-closing process and communication requirements. Assists with consumer loan closing and funding as it relates to departmental needs.

Closing & Posting Closing Duties

• Gather and review appraisal, title, credit application and all associated documents in file to make sure they match the underwritten loan and guidelines prior to closing and post-closing to ensure all conditions are satisfied.

• Accurately prepare closing packages and balancing for all types of mortgage loans, consumer, and home equity lines.

• Prepare accurate closing disclosure statements, ensuring all vendors are paid and collect all fees to meet regulation requirement deadlines.

• Communicate the status of loan closing dates with loan officers to ensure pending and suspense items are cleared within investor time frames.

• Fund and service closed mortgage loans.

• Package closed loan files for sale to secondary market according to their guidelines.

• Ensure clear title insurance policy has been obtained with post-closing verification.

• Responsible for completing and finalizing government monitoring information (filing, tracking and reporting).

General Duties

• Provide denial notices within 30 days of application and assist with government HMDA filings, tracking and reporting.

• Balance all mortgage loan clearing general ledgers and custodial escrow/funding checking accounts daily.

• Prepare in-house mortgage loan payoff quotes.

• Prepare Deeds of Reconveyance for all paid in full second lien and home equity loans.

• Develop and maintain audit and business procedures and checklists.

• Handle member questions in regard to their mortgage loan.

• Serve as backup in loan servicing/processing areas.

• Develop an understanding of Truth in Lending Act (TRID) and Real Estate Settlement Procedures Act (RESPA) regulatory guidelines and demonstrate compliance.

• Maintain knowledge of all mortgage loan servicing and secondary market guidelines to maintain compliance.

• Maintain an organized workspace and efficient tracking guidelines for ordering mortgage loan documents to help achieve the required timely closing goals.

Credit Union Job Duties

• Provide outstanding service skills for third-party agencies, members and co-workers regarding new, additional, or outstanding documentation required for loan file needs.

• Maintain member confidentiality and working knowledge of credit union policies and procedures.

• Develop a working knowledge of the core financial system, loan processing system and departmental software.

• Maintain outstanding service skills for vendors, members and co-workers for new, additional or outstanding documentation required for all loan needs.

• Actively support our “sales and service” culture and demonstrate these skills by communicating to members the benefits and features of all our products and services.

• Develop a working knowledge of competitors’ products and services with a continued interest in improving quality services and products for the credit union.

• Complete in-house training and certifications based on required classes set up for this position.

• Follow and exemplify credit union core values and service expectations.

• Assist in any area as directed by management.

Requirements

• High school diploma with some college preferred

• Some experience in an administrative or clerical position required

• Some experience with a financial institution or related mortgage lending company required

• One year of related mortgage/title experience preferred

• Knowledge of mortgage lending regulations tied to Conventional, NIFA, FHA, USDA, VA loans preferred

• Professional, well-developed interpersonal skills necessary for servicing members in person or by phone required.

• Requires a high degree of accuracy with intermediate mathematical skills (calculations and concepts involving decimals, percentages, fractions, etc.)

• Requires demonstrated problem solving and proper judgement skills to apply broader aspects of established practice to situations which go beyond clear, concise guidelines.

Work Hours

• Full-time. 40 hours per week. Monday - Friday – 8 am – 5 pm with 1 hour unpaid lunch. One Saturday morning per month rotation may be required.

Wage

• Wage is commensurate with experience and skills - $21.00 - $23.00+ per hour

• This position is eligible for a wage increase annually as part of a merit performance review

• Eligible for a discretionary gain-share plan payment annually

LFCU BENEFITS AND OTHER PROGRAMS

Insurance Benefits – Full-time

• Medical – LFCU pays 85% of premium, associates pay only 15%

• Dental – LFCU pays 100% of premium

• Vision - LFCU pays 50% of premium

• Life and ADD – LFCU pays 100% of premium. Additional coverage available with associate contribution.

• Short-term and Long-term Disability – LFCU pays 100% of premium

• AFLAC Supplemental –Cancer, Critical Care, Accident, Hospital - associate paid

• Flexible Spending Accounts (FSA) – Health Savings and Dependent Care

Retirement

• LFCU matches 100% up to 3% plus 50% up to 5% of associate’s 401(k) contributions for a total of 4%.

• LFCU contributes 5% of associate earnings to Profit Sharing.

Gain Share Plan

Reviewed for approval by the Board annually, this discretionary plan rewards associates when the credit union achieves above average performance. Associates are also rewarded based on their level of performance and contributions to the success of the credit union.

Paid Leave – Full-time

• Vacation– 2 weeks/year for new hires

• Sick – 2 weeks/year for new hires

• Personal Day – 2 days earned after one year

• Holiday Pay – 6 paid holidays/year plus 5 additional federal holidays per year are reserved for all-staff meetings. For one 1 of the 5, staff are required to attend an all-staff meeting, and the remaining 4 may be provided as holiday pay based on LFCU's discretion.

• Funeral Leave

Additional Programs – Full-time

• Quarterly all-staff professional development

• Tuition Reimbursement

• Fitness Club Reimbursement

• Free Breakfast on Fridays

• LFCU Apparel – 2 free items annually

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