Loan Closer

OVERVIEW:
Ensures accurate compliant residential loan disclosures in accordance with TRID regulations. Works with Senior Closing Coordinator to determine disclosure workflow and facilitates closings through document preparation. Provides support to the branch and attorneys.

PRIMARY ACCOUNTABILITIES / RESPONSIBILITIES:
Performs any function necessary, within scope of authority and expertise, to obtain maximum operating efficiency and to meet customer expectations, both inside and outside the Company.

• Proactively monitors incoming loan pipeline to ensure timely and accurate disclosures. Works closely with Secondary and Processing/Underwriting to ensure re-disclosures are accurate and timely.
• Prepare and provide accurate disclosures to borrowers for residential mortgage transactions.
• Proactively coordinates the Bank’s closing efforts by successfully scheduling eligible residential mortgage loans for closing in alignment with expect-to-close dates.
• Effectively communicates and coordinates with all necessary internal parties including originators, branch officers, processors, underwriters, secondary market and quality control personnel, and closers during the mortgage transaction to jointly work towards the expect-to-close dates.
• Performs the initial review when preparing closing documents, checking for compliance with all regulatory and secondary market guidelines and the Noteholder’s loan policy.
• Prepares Closing Disclosures in accordance with the loan approval and commitment letters.
• Ensures all approval conditions are satisfied prior to or at closing.
• Reviews attorney-prepared title commitment and verifies policy for proper coverage.
• Prepares and delivers all required closing documents to the appropriate settlement agents, branches with accuracy, efficiency, and helpfulness.
• Produces and ensures the highest level of service, responsiveness, and care to customers and business partners
• Assists with responding to internal and external audits of the retail lending operations, implementing operational changes, and ensuring compliance with state and federal lending regulations.

POSITION REQUIREMENTS:

• At least three years’ experience in residential mortgage documentation and operations experience.
• Three to five years’ experience with Encompass preferred.
• Strong analytical, communication, and organizational skills.
• Confident knowledge of mortgage loan products, operations, and state and federal regulatory compliance.
• Excellent MS Office knowledge and established command of Loan Origination Systems and loan documentation programs.
• Technical knowledge of the delivery requirements of Fannie Mae, Freddie Mac, MassHousing, the USDA Rural Housing Program, and other investors.
• Specialized course work and experience in real estate settlement preferred but not required.