Mortgage Loan Closer

Job Description

Mortgage Loan Closer

Bank of the Orient is an independent Asian Community Bank that has proudly served the financial needs of multiple Bay Area communities for over 54 years and the Sugar Land, Texas area. We are well known for our commitment to providing the highest level of personal service to our customers; we take a personal interest in our communities' unique banking needs, we are dedicated to providing integrity in banking and financial services, we provide high quality dependable service by being accessible and reliable. We are committed to excellence in everything we do.

We have an opening for a Mortgage Loan Closer and Under general supervision and within established lending guidelines, policies and procedures develops and analyzes credit information pertaining to mortgage loans. Prepares or assists in the preparation of, credit reports for presentation to loan officers, senior credit personnel and/or committees. Position is also responsible for the management and oversight of real estate closing transactions; ensuring the file closes on or before the contract closing date while providing excellent service to all parties.

Essential Duties

• Demonstrates quality customer service principles with internal and external customers consistently.
• Analyzes LTV, DTI, DTA ratios to evaluate creditworthiness of borrowers utilizing Financial and Tax Return Spreads.
• Ensures appropriate underwriting standards are followed and approval falls within the established lending guidelines.
• Prepares and summarizes conditions and covenant requirements of borrowers that require bank action.
• Obtains credit reports from agencies, including reporting services, credit bureaus, other financial institutions, and bank files.
• Prepares factual summaries and credit approvals for submission to the Underwriter Manager – Mortgage.
• Primary contact for attorneys and settlement agents for processing mortgage loans.
• Logs and reviews declined and withdrawn loan files.
• Determines the need for more thorough investigation or additional information contacting appropriate sources for such information.
• Reviews title commitments, contracts, surveys, PMI certs, lock and approvals. Reviewing title commitments, sales contracts and other related documents relating to residential real estate transactions for compliance and accuracy.
• Prepares the mortgage closing Disclosures/HUD-1 Settlement Statements, conveyance and other settlement documents necessary to complete closing transactions.
• Examines and clearing requirements on title commitments and lender closing instructions.
• Balancing the closing disclosure or HUD-1 Settlement Statements, reviewing funds received and coordinating proper disbursement of closing funds.
• Review and verify for accuracy insurance policies, loan payments and other loan documents.
• Obtaining and preparing all information needed to close a transaction.
• Working closely and coordinating closing transactions with clients, lenders, realtors, and all other relevant parties to ensure a proper timely closing transaction.
• Prepares mortgage loan/HELOC documents for loan closings. Reviews documents for accuracy to facilitate timely loan closing.
• Submits files to QC for pre-closing third party review and clears conditions as necessary.
• Obtain, verify, audit, and clear final loan documents to ensure compliance and accuracy. Generate and distribute reports on outstanding final documents and participate in status update meetings. Manage document handling, including processing mailed final documents and correction
• Maintains a high level of customer service through proactive communication with internal customers, i.e. loan officers, assistants, and other team members.
  
  

Requirements

• Requires Bachelors degree in Business or Finance, or equivalent work experience.
• Minimum 2-year experience of mortgage closing experience.
• Minimum 2-year previous experience analyzing lending documents, and handling credit processes.
• Previous post-closing experience preferred.
• Previous mortgage loan origination, processing and servicing is a plus.
• Strong computer skills with MS Excel, Word, and Mortgage software programs.
• Strong knowledge and understanding of mortgage lending principles, closing and documentation processes, and regulatory requirements.
• Good analytical skills; financial accounting skills, and detail oriented.
• Current knowledge of and Bank’s Mortgage lending products and services.
• Ability to communicate effectively with all levels of management internally and externally with tact and diplomacy.
• Required Software Proficiency: Experience with DocMagic and LaserPro is mandatory.
• Preferred Software Experience: Familiarity with Calyx Point is highly desirable.
  
  

Bilingual in Chinese prefer

The candidate will be subject to investigation through credit checks, reference checks, background checks and fingerprinting checks performed at the time permissible under relevant law.

Email resume to: Career@bankorient.com

Visit our website at: www.bankorient.com for additional information.

Bank of the Orient is proud to be an Affirmative Action, Equal Opportunity Employer.