in Morris Plains, NJ 07950
The Mortgage Loan Closer is responsible for closing Conventional, FHA, VA, USDA, State Bond Agency, Non-Conforming purchase and refinance transactions, and second mortgage transactions in various states.
- Reviews title commitments and invoices; reconciles fees in Encompass.
- Reviews hazard insurance policy for correct coverage.
- Reviews the Closing Protection Letter and wire instructions for accuracy; requests revisions if necessary.
- Requests or follows up for receipt of the Funding Shield Certificate.
- Prepares initial Closing Disclosure.
- Ensures that Closing Disclosures are sent before 6:00 p.m. when up against the TRID-required 3-day wait period. Calls GSM and customer to inform them that the Closing Disclosure was sent.
- Reconciles Closing Disclosures with Closing Agents.
- Ensures proper compliance with TRID timelines for delivery of Closing Disclosure.
- Prepares final closing package for first and/or second mortgage transactions.
- Reviews closing documents/packages for complete accuracy.
- Ensures all wire requests are fully completed, accurate and given to Accounting prior to their cutoff.
- Responsible for daily management of pipeline of loan closings, prioritizing based on scheduled closing date.
- Monitors pipeline daily for compliance-related variance alerts and warnings, and addresses and/or clears all alerts and warnings prior to loan closing.
- Must return phone calls the day received -- "Sundown Rule".
- Makes "welcome call" to settlement agent; confirms closing dates and timelines for closing.
- Makes any phone calls to obtain title, surveys or hazard insurance missing from file.
- Provides closing package to Team Leader for final review.
- Confirms all closings and updates Encompass 24 hours after closing.
- Assists with Closing Hotline coverage.
- Ensures that a verbal verification of employment (VVOE) is in every loan before it closes, and that the VVOE is completed no more than 10 days prior to closing.
- Addresses and clears all post-closing and Quality Control exceptions within the timelines established by those departments.
Education, Certification, and License Requirements
High school diploma or GED
Associate's or Bachelor's degree preferred
Five (5) or more years of mortgage banking closing experience preferred
Knowledge, Skills, and Abilities
Thorough understanding of TRID regulations, federal and state regulations and company closing policies and procedures
Solid knowledge of and practical experience with applicable technology tools including, but not limited to Encompass and Microsoft Office suite of products
Ability to handle confidential material in a professional, highly ethical manner
Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals
Good verbal and written communication skills are essential; proficient at one-on-one contact in person and via telephone
Ability to interact effectively with all levels of employees throughout the Company
Strong analytical ability
Strong attention to detail
Knowledge and ability to use typical office equipment (PC, calculator, fax machine, etc.)