SUMMARY: Under general supervision, but in accordance with established policies and procedures, is responsible for the coordination of all aspects involved with finalizing the mortgage loan closing process, arriving at detail and accurate financial numbers for borrowers and readying documents for closing. Communicates with members, borrowers, internal staff, and other associated outside agencies to facilitate all closing issues in a timely manner. ESSENTIAL DUTIES AND RESPONSIBILITIES:
- All closing functions including but not limited to reviewing closing information screens to confirm all information is correct. Send closing instructions to credit union staff or closing agent within timely receipt of file.
- Ensure all loans close in accordance with Underwriter's approval and Clear to Close conditions.
- Clear outstanding underwriting conditions to allow the loan documents to be drawn and to fund in a timely manner.
- Ensure all loans are closed in accordance with the Credit Union's policies and procedures and investor's requirements.
- Interface with borrowers regarding loan program requirements and preparations necessary for closing.
- Contacts employers/resources/ third party vendors for updated employment verification.
- Contacts vendors/creditors for payoff information.
- Contacts members and insurance agents for binders; responsible for obtaining any necessary corrections to the mortgagee clause and policy information.
- Schedule closing date/time with attorney and borrowers.
- Confirm closing dates, location, documentation, and funds due at closing with borrowers.
- Issue final Closing Disclosure and RESPA related documents. If applicable, issue Aggregate Escrow Analysis.
- Reviews file prior to closing. Ascertains that the file is complete and authorizes the attorney or closing agent to close the loan. Requests and acquires additional documentation if necessary.
- Prepare closing packages. Review closed loan packages to ensure completeness of loan documentation and issue closing instructions.
- Send closing packages to closing agent to insure timely, accurate closings.
- Fund attorneys IOLTA or designated closing fund accounts.
- Assist closing agent and branch personnel with various problems concerning closing.
- Deal proactively with all parties involved in the loan closing to avoid and/or resolve problems at closing.
- After closing: Verify all closing instructions were completed. Confirm receipt of all closing documents. Follows up, when necessary, with closing agent or borrowers. When requested, assist in the Quality Control (QC) review of documents for the Servicing division.
- Uploads loans from processing systems to core system.
- Send closed loan file to servicing division to be reviewed and imaged.
- Follow up on all unclosed files and funds to be returned.
- Ensure loan is set up on the servicing system.
- Monitor disbursements and receipts of funding for loan closings, if requested, reconcile general ledger, research outstanding items, and prepare miscellaneous correction journal vouchers, when necessary.
- Meet performance requirements for volume, quality, and timeliness.
- Assists in locating specific documentation necessary for audits.
- Stay abreast of all changes in guidelines and procedures by training, memos, etc.
- Assists with processing of residential first and second mortgage loan products. Cross train of various duties of Mortgage Processor.
- Assists with various consumer and mortgage servicing duties.
- General knowledge of all credit union products and services for purposes of cross selling.
- General knowledge of organization of credit union. I.E., would know whom to direct an inquiry regarding a member's deposit account to when assisting member with their HELOC closing.
- Performs other duties as requested.
- In office presence may be required in a hybrid work environment.
Disclaimer: The job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities, and activities may change, or new ones may be assigned at any time with or without notice. SUPERVISORY RESPONSIBILITIES: NONE Requirements QUALIFICATIONS:
- Working knowledge of real estate titles, deed preparation and closing.
- Knowledge of the following LOS Encompass and Meridian Link, desirable.
- Proficient with Microsoft Excel and Word. Proficient with personal computers.
- Good organizational, data entry and typing skills
- Customer service and communication skills. Proven member service skills.
- Time management skills, as position requires Knowledge and adherence of TRID requirements
- Ability to work in a fast-paced environment
- High degree of attention to detail
- A thorough understanding of the requirements of the Credit Union's loan products.
EDUCATION:
- High School Diploma required, Bachelor's Degree in related field preferred.
- One to two years of work experience in a credit union or financial institution
- 2 years Mortgage Closing experience preferable (will consider mortgage processing)
- Experience in banking required.
- Previous experience working in direct customer service industry.
- Practical work experience within real estate industry or vendor management service company.
WORK 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. 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 sit; use hands to finger, handle or feel, reach with hands and arms; and talk or hear. The employee is occasionally required to stand and walk. The employee must regularly lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, peripheral vision, and ability to adjust focus. SCU Credit Union is an equal employment opportunity employer.