Mortgage Loan Closer

Northwest Federal Credit Union - Herndon, VA (30+ days ago)3.5


DUTIES AND RESPONSIBILITIES:
  • Coordinates settlement between Title Company and/or attorneys and members.
  • Reviews closing instructions; determines charges to be collected at closing such as appraisal/inspection fees, credit report charges, recording and title insurance costs, etc.
  • Creates, edits and approves the Closing Disclosure (CD) statement and coordinates with the title company on any necessary revisions. Issues the CD to applicable borrowers in accordance with regulatory guidelines.
  • Prepares all required Mortgage Loan Closing documents, including, but not limited to Promissory Note, Deed of Trust, Closing Disclosue; prepares appropriate disclosures and any other documents necessary for closing; Documents should be accurate and error free and provided to title company and/or member within specified time frames as determined by management.
  • Coordinates with the Mortgage Loan Processor to confirm that all underwriting requirements are met; ensures all loan underwriting conditions are satisfied prior to the preparation of the closing packages.
  • Issues clear and concise closing conditions to the settlement attorney and/or title company in an effort to ensure compliance and salability of the loan.
  • Provide the title company with any needed follow up to ensure a seamless transaction and timely settlement.
  • Responsible for disbursements and following all required accounting procedures.
  • Assists with post-closing communication and helps to correct any mistakes made on documentation by the title company at the time of closing.
  • Conducts equity loan settlements in a professional manner ensuring all documents are properly signed and notarized. Print checks for Home Equity Line of Credit loans.
  • Creates and disburses Home Equity, Home Equity Line of Credit and Land Loans within the core system.
  • Remains cognizant of and adheres to NWFCU policies and procedures, and regulations pertaining to the Bank Secrecy Act (BSA)
  • Other duties as assigned.
Work Hours:
  • 8am - 4:30pm M-F or 9am - 5:30pm M-F

EDUCATION AND EXPERIENCE:
  • Education High school graduate or equivalent.
  • At least 1-year mortgage experience as a processor or closer or at least 1-year experience in a mortgage related field.
  • Knowledge of Credit Union Policies and Procedures relating to mortgage operations.
  • Knowledge of federal regulations and compliance issues such as RESPA, REG Z, HMDA, etc.
  • SAFE Act Licensing is required.
SKILLS:
  • Use of HP12C financial calculator, Microsoft office suite to include Word and Excel.
  • Skilled in the use of the internet for information retrieval and online business processing.
  • Proficient in various mortgage software utilized by departments.
  • Solid time management skills and the ability to organize prioritize and perform multiple tasks simultaneously.
  • Ability to communicate clearly and effectively, both verbally and in writing, across a variety of audiences.
  • Ability to analyze and comprehend complex financial data and provide financial alternatives.
  • Professional and effective interpersonal skills.