Real Estate/Mortgage Loan Closer - Kensington, MD
Signal Financial is a progressive growing $370 Million Credit Union that is committed to building a new way of banking for our current and future members in the DC metropolitan area. Our vision and goal is to be a progressive multi-Billion dollar financial institution, by re-inventing the way we operate with our membership experience in mind. We will do this by being innovative, creative and nimble in offering distinctive products and services.Signal Financial is a progressive growing $370 Million Credit Union that is committed to building a new way of banking for our current and future members in the DC metropolitan area. Our vision and goal is to be a progressive multi-Billion dollar financial institution, by re-inventing the way we operate with our membership experience in mind. We will do this by being innovative, creative and nimble in offering distinctive products and services.
We are seeking a full time Real Estate Lending Loan Closer to join our team in our Kensington, MD office. This position is responsible for the successful Closing and Post-Closing of 1st trust mortgage loans and home equity loans in a timely manner.
CLOSING: Receipt of a clear to close loan application file from the Mortgage Loan Processor following approval of the loan application by the underwriting department. Responsible for the preparation of closing instructions and performing company procedures required to close and fund residential mortgage loans in accordance with company and investor policies and requirements.
POST CLOSING: Prepares mortgage files for servicing or delivery to investor including putting the file in order & copying or scanning as required by SFFCU and/or investor guidelines. Tracks closed loan files for post funding and trailing document items and initiate any changes/corrections that are needed. Deliver loan files in a timely manner for various internal and external audit channels. Maintain file retention schedule for all shipped files.
Timely and accurate collection of documentation needed to clear final conditions prior to working up closing instructions
Ensure all loan system data, dates and reporting criteria are complete and accurate
Thorough knowledge of accounting principles and procedures
Interact closely with management, underwriting, processing, loan officers and borrowers to provide regular updates to achieve goals for production time, pull through and member satisfaction
Coordinate with the title companies to order/process and schedule loan closings
Prepare and send closing instructions as well as, final documents
Audit, correct and issue final approval of Closing Disclosure prior to sending documents to the member
Once the closed loan packet is received from title office, reconcile closing fees to mortgage general ledger accounts
Demonstrate leadership through personal actions and day-to-day practices that support SFFCU’s core values
High School diploma or equivalent required
Two to five years of 1st mortgage and home equity closing experience
Must demonstrate knowledge of Fannie Mae/Freddie Mac and FHA guidelines as well as credit union lending policies, procedures, and regulations
Must possess a thorough understanding of the requirements and features of the mortgage loan programs offered by SFFCU, other private investors, and the secondary mortgage market
Excellent oral and written communication skills required
Strong loan math calculation skills including the use of automated spreadsheet development and basic analytics required
Analytical decision-making ability with attention to detail
Ability to multitask and prioritize work as required
PC proficient to include: Word, Excel, Outlook, internet
Familiarity with mortgage loan origination systems and processing software