What are the responsibilities and job description for the Loan Closer position at F.N.B. Corporation?
Primary Office Location:
626 Washington Place. Pittsburgh, Pennsylvania. 15219.
Join our team. Make a difference - for us and for your future.
Position Title: Loan Closer
Business Unit: Mortgage Administration
Reports To: Manager of Mortgage Closing
Position Overview
This position is primarily responsible monitoring CD dates, generating CD's and ensuring that CDs are executed in a timely fashion to enable us to honor settlement dates. The position also is responsible for preparing closing documents and net funding of the mortgage loan, as well as Closing Coordination. The incumbent provides the highest quality of customer service to every customer, both internal and external. Manages the settlement agent portal and validating disclosure histories via Smart LE.
Primary Responsibilities
Prepares all Bank prepared legal documents required to close residential mortgage loans including the note, mortgage, riders, final Real Estate Settlement Procedures Act (RESPA) documents, escrow analysis forms, amortization schedules, etc. Prepares the Closing Disclosure in a timely manner in order to protect the customers ability to settle the transaction on time.
Performs federally required Home Owners Equity Protection Act (HOEPA) and Higher Priced Mortgage Loans (HPML), TILA test on each loan, analyzes results to determine necessary steps to bring the loan into compliance and complies with federal TRID regulations regarding settlement costs and curing any deficiencies. Responsible for all changes and documentation under new TRID rules.
Reviews and understands the attorney prepared legal documents for errors and omissions, detects inconsistencies and either cures the defects or instructs the settlement agent on how to cure the defect. Coordinates settlement through the closing portal with to procure fees and information as needed to prepare CD's and Documents.
Determines if the settlement agent properly prepared the Deed, Subordination Agreement and any other attorney prepared legal documents and notifies the settlement agent immediately to make corrections prior to funds being released by the Bank.
Reviews the homeowner’s insurance policy for adequate coverage and mortgagee clause. Performs the initial escrow analysis using information contained on the tax and insurance information sheet. Prepares the net funding of the loan to the settlement agent by either preparing general ledger tickets, preparing block entries on ITI or initiating a wire transfer.
Monitors the system for Consent of electronic delivery, disclosure timing, waiting periods, redisclosures and rescheduling closings as necessary to adhere to TRID regulatory requirements.
Performs other related duties and projects as assigned.
All employees have the responsibility and the accountability to serve as risk managers for their businesses by understanding, reporting, responding to, managing and monitoring the risk they encounter daily as required by F.N.B. Corporation’s risk management program. F.N.B. Corporation is committed to achieving superior levels of compliance by adhering to regulatory laws and guidelines. Compliance with regulatory laws and company procedures is a required component of all position descriptions.
Minimum Education
High School or GED
Minimum Years Experience
3
Special Skills
Excellent communication skills, both written and verbal
Excellent organizational, analytical and interpersonal skills
Detail-oriented
Ability to use general office equipment
Ability to use a personal computer and job-related software
MS Word - Intermediate Level
MS Excel - Intermediate Level
MS PowerPoint - Basic Level
Experience in mortgage loan closing or equivalent type of functional work
Special Licenses And Certificates
N/A
Physical Requirements
N/A
Equal Employment Opportunity (EEO)
It is the policy of F.N.B. Corporation (FNB) and its affiliates not to discriminate against any employee or applicant for employment because of age, race, color, religion, sex, national origin, disability, veteran status or any other category protected by law. It is also the policy of FNB and its affiliates to employ and advance in employment all persons regardless of their status as individuals with disabilities or veterans, and to base all employment decisions only on valid job requirements. FNB provides all applicants and employees a discrimination and harassment free workplace.
626 Washington Place. Pittsburgh, Pennsylvania. 15219.
Join our team. Make a difference - for us and for your future.
Position Title: Loan Closer
Business Unit: Mortgage Administration
Reports To: Manager of Mortgage Closing
Position Overview
This position is primarily responsible monitoring CD dates, generating CD's and ensuring that CDs are executed in a timely fashion to enable us to honor settlement dates. The position also is responsible for preparing closing documents and net funding of the mortgage loan, as well as Closing Coordination. The incumbent provides the highest quality of customer service to every customer, both internal and external. Manages the settlement agent portal and validating disclosure histories via Smart LE.
Primary Responsibilities
Prepares all Bank prepared legal documents required to close residential mortgage loans including the note, mortgage, riders, final Real Estate Settlement Procedures Act (RESPA) documents, escrow analysis forms, amortization schedules, etc. Prepares the Closing Disclosure in a timely manner in order to protect the customers ability to settle the transaction on time.
Performs federally required Home Owners Equity Protection Act (HOEPA) and Higher Priced Mortgage Loans (HPML), TILA test on each loan, analyzes results to determine necessary steps to bring the loan into compliance and complies with federal TRID regulations regarding settlement costs and curing any deficiencies. Responsible for all changes and documentation under new TRID rules.
Reviews and understands the attorney prepared legal documents for errors and omissions, detects inconsistencies and either cures the defects or instructs the settlement agent on how to cure the defect. Coordinates settlement through the closing portal with to procure fees and information as needed to prepare CD's and Documents.
Determines if the settlement agent properly prepared the Deed, Subordination Agreement and any other attorney prepared legal documents and notifies the settlement agent immediately to make corrections prior to funds being released by the Bank.
Reviews the homeowner’s insurance policy for adequate coverage and mortgagee clause. Performs the initial escrow analysis using information contained on the tax and insurance information sheet. Prepares the net funding of the loan to the settlement agent by either preparing general ledger tickets, preparing block entries on ITI or initiating a wire transfer.
Monitors the system for Consent of electronic delivery, disclosure timing, waiting periods, redisclosures and rescheduling closings as necessary to adhere to TRID regulatory requirements.
Performs other related duties and projects as assigned.
All employees have the responsibility and the accountability to serve as risk managers for their businesses by understanding, reporting, responding to, managing and monitoring the risk they encounter daily as required by F.N.B. Corporation’s risk management program. F.N.B. Corporation is committed to achieving superior levels of compliance by adhering to regulatory laws and guidelines. Compliance with regulatory laws and company procedures is a required component of all position descriptions.
Minimum Education
High School or GED
Minimum Years Experience
3
Special Skills
Excellent communication skills, both written and verbal
Excellent organizational, analytical and interpersonal skills
Detail-oriented
Ability to use general office equipment
Ability to use a personal computer and job-related software
MS Word - Intermediate Level
MS Excel - Intermediate Level
MS PowerPoint - Basic Level
Experience in mortgage loan closing or equivalent type of functional work
Special Licenses And Certificates
N/A
Physical Requirements
N/A
Equal Employment Opportunity (EEO)
It is the policy of F.N.B. Corporation (FNB) and its affiliates not to discriminate against any employee or applicant for employment because of age, race, color, religion, sex, national origin, disability, veteran status or any other category protected by law. It is also the policy of FNB and its affiliates to employ and advance in employment all persons regardless of their status as individuals with disabilities or veterans, and to base all employment decisions only on valid job requirements. FNB provides all applicants and employees a discrimination and harassment free workplace.
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