Job Title: Settlement Officer
Alternate Job Titles: Closer, Settlement Clerk, Escrow officer
FLSA Status: Non-Exempt
Workweek: 35 Hours
Salary Range: $60,000-70,000 – Salary is commensurate with experience
Summary of Functions:
The role of the Settlement Officer is to assist the Branch Manager with settlements. Specific duties may include: assist in the development of staff, audit files for compliance, prepare files for closing, ensure all items necessary to satisfy requirements are received, prepare the Closing Disclosure Form (CDF) according to lender and/or buyer/seller instructions, prepare affidavits, prepare necessary title company disclosures, balance and disburse the file, conduct closings (or coordinate with signing agent), audit the closed package and deliver to parties, confirm all payments are made, satisfy any post-closing issues, and any other duties assigned to him or her by the Branch Manager.
Essential Duties and Responsibilities:
Maintains compliance with Surety Title Company, LLC policies and procedures in accordance with governing laws, regulations, regulatory agencies and company standards. Demonstrates on a consistent basis individual and team behavior that supports the culture of Surety Title Company, LLC. The essential duties and responsibilities of the Senior Settlement Officer may include but are not limited to the following:
- Establish and maintain positive internal and external customer relationships by providing exceptional customer service and professional communication.
- Process residential settlements, generally involving purchase, cash, refinance, Equity Loans, Lot Closing, or new loan transactions.
- Ensure that each settlement is properly completed and its contents filed in accordance with standardized procedures. Duties include but are not limited to:
- Prepare Closing Disclosure Form, ALTA Settlement Statement or HUD-1 Settlement Statement for closing.
- Obtain approval for Closing Disclosure Form, ALTA Settlement Statement or HUD-1 Settlement Statement from all parties.
- Review and Prepare File for Closing, confirming all closing conditions are met. Including ensuring that all terms and conditions of the purchase and sale agreement are in compliance
- Perform the closing with all parties present, to include document notarization
- Process the accurate and timely disbursement of funds
- Prepare the documents for recording
- Ensure the timely deposit of funds collected
- Organize paperwork for delivery to lender and archiving
- Travel to requested settlement locations for closing
- Properly document notes in every file
- Properly scan all documents to file
- Ensure all outstanding checks are timely followed up and managed
- Ensure all escrowed funds are timely followed up and managed
- Assist with any department post-closing activities that may be required
- Provide training to new hires
- Performs any other duties as requested
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/GED required
- Pennsylvania and New Jersey closing experience preferred.
- At least four years of HUD-1 and CDF Settlement Statement Preparation experience while working at a title company.
- At least 1-2 years’ previous supervisory experience
- Experience Purchase, Reverse Mortgage, REO Closings (Deed in Lieu, Short Sales) preferred
- NJ Title License required
- Notary Public is required
Language Skills
Ability to read, analyze, and interpret general business documents. Ability to write reports and business correspondence. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
Computer Skills
To perform this job successfully, an individual should have knowledge of Microsoft Office; a fax machine; a copier/scanning machine; and a multi-line telephone.
Other Skills and Abilities
- Ability to multi-
- Ability to calculate payoffs, transfer taxes, mortgage taxes,
- High Standard of organization and attention to
- Ability to work under stress with time
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 talk or hear. The employee is frequently required to sit. The employee must frequently lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision.
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.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights (https://www.eeoc.gov/poster) notice from the Department of Labor.
