Description
SUMMARY
Prepares approved loans for closing; facilitates communication with various agents to schedule and complete loan closings for Conventional and FHA loans, ensuring compliance to all FHA guidelines; reviews accuracy of documents and data to assure loans are properly recorded and serviced.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following.
Other duties may be assigned including post-closing files after settlement as occurred.
1. Coordinates loan settlement by informing all respective parties of necessary legal documents and oversees proper disbursement of funds. Ensures all conditions of a loan commitment have been satisfied and schedules loan closings on all mortgage loans; calculates and enters all figures into the system; checks the accuracy of appraisal, commitment, insurance, and escrow data.
2. Ensure that all loans have been reviewed for adherence to compliance guidelines for TRID, TILA, HPML and HOEPA and submission to PredProtect, APRWIN and FFIEC site with verification of data and satisfaction of all discrepancies.
3. Reviews title commitments and all forms of title work for accuracy of names, legal descriptions, liens, easements, restrictions, taxes and possible property flipping.
4. Reviews all legal/company/agency/FHA documents to ensure proper authorization is secured for real estate transactions.
5. Communicates with all necessary parties to facilitate timely and accurate closings, ensuring closing within commitment and purchase contract deadlines.
6. Prepares HUD settlement statements, closing disclosures and closes loans in adherence to applicable secondary market and government standards and that all loans have met RESPA and TILA (including MDIA) guidelines.
7. Ensures accuracy of executed closing documents prior to recording.
8. Prepares accurate disbursement and loan set up forms. Follow up with timely receipt of closing packages, reviewing closing documents upon receipt from closing agent. Follow up for completion of any errors or discrepancies, putting documents in order and forwarding file to loan servicing within 3 days of closing.
9. Maintains familiarity with loan rates, products and procedures to comply with federal regulations.
SUPERVISORY RESPONSIBILITIES
This job has no supervisory responsibilities.
KNOWLEDGE, SKILLS AND ABILITIES
Must have knowledge of mortgage documentation. Basic PC knowledge, calculator and 10-key adding machine skills required.
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. 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.
EDUCATION and/or EXPERIENCE
High school diploma or general education degree (GED) with three-years mortgage lending experience in Conventional and FHA loans and with three-years loan-closing experience in Conventional and FHA loans.
LANGUAGE SKILLS
Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to write routine reports and correspondence. Ability to speak effectively before groups of customers or employees of organization.
MATHEMATICAL SKILLS
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.
REASONING ABILITY
Ability to apply common sense understanding to carry out detailed but uninvolved written or oral instructions. Ability to deal with problems involving a few concrete variables in standardized situations.
CERTIFICATES, LICENSES, REGISTRATIONS
None required
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; and reach with hands and arms. The employee is occasionally required to stand; walk; and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision and ability to adjust focus.
EEO/AA/Minorities/Females/Disabled/Veterans