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Role: Post Closing Correction Specialist
Job Location: 5001 Kingsley Drive, Cincinnati, Ohio, 45227
Mod Of Hire: Full Time
GENERAL FUNCTION:
The Post Closing Correction Specialist is responsible for the determination of requirements, review and completion of all due diligence associated with the Post Closing of residential mortgage loans and subsequent document follow-up to present a completed loan file as perfected and ready for sale on the Secondary Market. The position is a key focal point of communication, proactively interacting with internal and external customers and 3rd party vendors. This position is responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. The Specialist I is accountable for always doing the right thing for customers and colleagues, ensuring that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, the specialist achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES & RESPONSIBILITIES:
Analyze defects identified in the closing package, determine if there are any related or additional issues, and remediate according to documented procedures, utilizing internal and external resources.
Accurately annotate all findings and actions taken to perfect in the Mortgage Loan Origination System.
Retrieve needed final documents from various settlement agents, lenders, and county clerk offices to be delivered to Investors.
Validate and audit final documents according to state, county and investor guidelines as well as the mortgage loan origination and servicing systems.
Collaborate with state and county agencies to determine requirements and confirm documents are recorded properly to ensure client Mortgage Company lien standing.
Ensure FHA, VA, and Rural Housing mortgage loans are in compliance with investor and /or agency guidelines, including determining AUS findings, underwriting transmittal, credit and collateral are documented accurately throughout the file and associated systems.
Utilize strong communication skills to deliver an accurate and timely resolution on each file by effectively communicating with internal and external customers and other 3rd parties, ensuring all conditions and regulatory requirements are met.
Record, monitor and report deficiencies and required remedies, including steps taken to resolve the issue.
Ensure deficiencies are accurately resolved and documentation is received within established deadlines.
Image and deliver retrieved or corrected documents to appropriate departments while utilizing internal tracking software.
Demonstrate and appropriately apply a thorough, working knowledge of diverse residential mortgage loan documentation, legal requirements, client Mortgage Company loan policies and procedures, secondary market investors requirements, regulatory agency information, and government insuring agency (FHA, VA, Rural Housing) requirements.
Validate, communicate and remediate salability issues on closed loans, so that they can be sold on the Secondary Market.
Update task in servicing system (e.g., Mortgage Serve) for the resolution of various closing discrepancies.
Discern system issues and timely report issues found to management for proper escalation.
Classification: Internal Use
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
High School diploma or equivalent.
Minimum 1 year of prior experience in the closing, post-closing, processing, or real estate documentation area of a title company or financial institution preferred.
Excellent written and verbal communication skills.
Ability to proactively resolve problems.
Time management, attention to detail and ability to work in a fast-paced, process-centered environment.
Must be well organized and be able to plan for and meet production deadlines.
Role: Post Closing Correction Specialist
Job Location: 5001 Kingsley Drive, Cincinnati, Ohio, 45227
Mod Of Hire: Full Time
GENERAL FUNCTION:
The Post Closing Correction Specialist is responsible for the determination of requirements, review and completion of all due diligence associated with the Post Closing of residential mortgage loans and subsequent document follow-up to present a completed loan file as perfected and ready for sale on the Secondary Market. The position is a key focal point of communication, proactively interacting with internal and external customers and 3rd party vendors. This position is responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. The Specialist I is accountable for always doing the right thing for customers and colleagues, ensuring that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, the specialist achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES & RESPONSIBILITIES:
Analyze defects identified in the closing package, determine if there are any related or additional issues, and remediate according to documented procedures, utilizing internal and external resources.
Accurately annotate all findings and actions taken to perfect in the Mortgage Loan Origination System.
Retrieve needed final documents from various settlement agents, lenders, and county clerk offices to be delivered to Investors.
Validate and audit final documents according to state, county and investor guidelines as well as the mortgage loan origination and servicing systems.
Collaborate with state and county agencies to determine requirements and confirm documents are recorded properly to ensure client Mortgage Company lien standing.
Ensure FHA, VA, and Rural Housing mortgage loans are in compliance with investor and /or agency guidelines, including determining AUS findings, underwriting transmittal, credit and collateral are documented accurately throughout the file and associated systems.
Utilize strong communication skills to deliver an accurate and timely resolution on each file by effectively communicating with internal and external customers and other 3rd parties, ensuring all conditions and regulatory requirements are met.
Record, monitor and report deficiencies and required remedies, including steps taken to resolve the issue.
Ensure deficiencies are accurately resolved and documentation is received within established deadlines.
Image and deliver retrieved or corrected documents to appropriate departments while utilizing internal tracking software.
Demonstrate and appropriately apply a thorough, working knowledge of diverse residential mortgage loan documentation, legal requirements, client Mortgage Company loan policies and procedures, secondary market investors requirements, regulatory agency information, and government insuring agency (FHA, VA, Rural Housing) requirements.
Validate, communicate and remediate salability issues on closed loans, so that they can be sold on the Secondary Market.
Update task in servicing system (e.g., Mortgage Serve) for the resolution of various closing discrepancies.
Discern system issues and timely report issues found to management for proper escalation.
Classification: Internal Use
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
High School diploma or equivalent.
Minimum 1 year of prior experience in the closing, post-closing, processing, or real estate documentation area of a title company or financial institution preferred.
Excellent written and verbal communication skills.
Ability to proactively resolve problems.
Time management, attention to detail and ability to work in a fast-paced, process-centered environment.
Must be well organized and be able to plan for and meet production deadlines.
