Mortgage Loan Closer - Texas Mortgage Lending
The Mortgage Loan Closer prepares documents for review and finalizes the Closing Disclosure, ensuring that all of these documents are accurate. The Mortgage Loan Closer manages the funding process by reviewing signed closing documents while clearing outstanding conditions and providing funding authorization when all items are cleared.
Major Duties and Essential Functions
• Ensure borrower membership at the respective lending credit union.
• Review required documentation provided by the borrower or third-party vendor to ensure each mortgage file meets investor or credit union guidelines.
• Review loan file for accuracy as well as compliance with applicable regulations.
• Identify all errors or inadequacies in the file and work with appropriate parties to resolve all outstanding issues.
• Review automated underwriting system (AUS) and closing conditions ensuring all information is accurate and consistent throughout all internal systems.
• Create and disclose the initial closing disclosure ensuring its accuracy.
• Provide excellent service by communicating and following up with the appropriate parties.
• Create the loan closing package or request it from appropriate third party.
• Authorize the loan funding following completed document review.
• Review loan closing package and deliver completed package to title company for loan closing.
• Verify closing has taken place and request wire from the credit unions accounting department.
• As necessary, assist the post-closing personnel in preparing documents to ship to investor.
• Learn and comprehend Encompass screens and fields.
• Maintain a pipeline management system to keep up with file follow up.
• Cross train for post-closing roles.
• Other duties as assigned. Specific knowledge, skills, and abilities required for this position:
• Encompass or similar LOS experience preferred.
• General understanding of mortgage banking concepts and regulations.
• Strong knowledge of TRID regulations.
• Strong knowledge of Texas Article 16 section 50(a)6 guidelines.
• Ability to manage multiple priorities and meet deadlines in a fast paced, high volume, work environment.
• Strong time management skills required.
• Excellent communication skills, both verbal and written.
• Outstanding interpersonal skills.
• Proficient computer skills to input and retrieve data in loan operation systems.
• Ability to produce documents and spreadsheets in Microsoft Office Products.
• Good organizational skills.
• Ability to provide superior level of service.
Education and Experience:
• High School diploma or GED required.
• Minimum 5 years of mortgage closing experience.