What are the responsibilities and job description for the Loan Closing Specialist - Senior position at Essex Bank?
Loan Closing Specialist - Senior
ESSEX BANK – Essex, CT
Fully On-Site
Essex Bank’s fast-growing Loan Department is looking for a motivated individual to fill the position of Loan Closing Specialist - Senior to prepare and execute funding of residential closing packages and documentation in accordance with established guidelines and policies; and produce residential closing packages.
The qualifications and attributes required for this position include:
Loan Closing Oversight & Mentorship
- Produce packages: Collaborate with the Closer and Supervisor on residential closing packages.
- Verify conditions: Check interest rates, fees, credits, property titles, vesting, and insurance.
- Ensure accuracy: Quality-check packages against regulatory guidelines before attorney submission.
- Review disclosures: Check attorney-drafted Seller Closing Disclosures and perform final quality control.
- Disburse funds: Oversee account creation on Insight and release closing day funds.
- Post-close compliance: Review closed packages for secondary market eligibility and resolve deficiencies.
- Lead team: Assist the Supervisor, check closing packages, and mentor less experienced administrators.
2. Stakeholder Coordination & Attorney Vetting
- Communicate: Interface directly with lenders, attorneys, and internal departments.
- Manage documents: Prepare, distribute, and follow up on post-closing documentation.
- Vet attorneys: Partner with CATIC Lending Solutions to vet attorneys and confirm receipt of bank documents.
3. Loan Administration Support
- Generate reports: Create monthly new loan reports and verify monthly MIP certificates.
- Maintain systems: Update operational procedures and report technical issues to Systems Administrator.
4. Compliance & Management Reporting
- Track data: Assist with compliance duties and HMDA tracking.
- Support management: Prepare required month-end management reports.
Education and/or Experience:
Associate’s degree (A.A.) or equivalent from two-year college or technical school; or two to three years related experience and/or training; or equivalent combination of education and experience. Requires high school education and 2 to 3 years of experience in bank loan closing or related experience. Must have good written and oral communications skills. Requires good typing and calculator skills and a good understanding of the operation of personal computers. Knowledge of Word Perfect and Excel.
We offer competitive pay, benefits and an excellent working environment. Submit resumes and salary history to Essex Bank Human Resources PO Box 950 Essex CT 06426.
DISCLAIMER: The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to the job.
We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.
Essex Bank Human Resources, P.O. Box 950, Essex CT 06426.
Job Type: Full-time Annual Salary: $55,000 - $70,000 D.O.E
Pay: $55,000.00 - $70,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Vision insurance
Work Location: In person
Salary : $55,000 - $70,000