What are the responsibilities and job description for the Loan Closing Analyst I position at St Mary's Bank Credit Union?
Overview
The Loan Closing Analyst I is responsible for preparing, reviewing, and managing loan closing documentation to ensure accuracy and compliance with company guidelines and regulatory standards. The Analyst coordinates with various parties, conducting quality control checks, and providing exceptional member service throughout the loan closing process. Verification of all informational components on closing forms including but not limited to hazard insurance, real estate taxes, private mortgage insurance and prepaid expenses.
Key Responsibilities
• Final review of loan closing documents in preparation for closing and funding.
• Verify underwriting conditions are approved, rate lock information valid, appropriate insurance certificates are filed, and loan document requirements are met.
• Coordinate with closing agents to complete all documentation to be provided at closing according to State and Federal regulations.
• Ensure closed loans transfer to loan system and fees accounted for.
• Identify and resolve any issues or discrepancies that arise during the loan closing process, seeking guidance from senior analysts or management as needed.
• Maintain accurate and organized records of all loan closing activities and documentation.
Core Skill Competencies
• Communication: Clear and effective communication skills, both written and verbal.
• Attention to Detail: Meticulous attention to detail, ensuring all documentation is accurate and complete.
• Analytical Skills: Strong analytical skills to identify and resolve discrepancies or issues in loan documentation.
• Time Management: Ability to manage multiple tasks and deadlines in a fast-paced environment.
• Problem-Solving: Proactive problem-solving skills to address and resolve issues efficiently.
• Member Focus: Commitment to delivering exceptional member service and enhancing the member experience.
• Regulatory Knowledge: Understanding relevant federal, state, and local laws and regulations governing loan closing processes.
• Technical Proficiency: Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint, Outlook) and in loan processing software and Fannie Mae Desktop underwriter.
Physical Demands
• Prolonged periods sitting at a desk and working on a computer.
• Occasional lifting of office supplies, up to 15 pounds.
Qualifications
• Minimum High school diploma or equivalent required.
• 1-3 years current/recent experience in mortgage loan processing, underwriting, and loan closing functions.
• Complete knowledge and understanding of conventional, government, NHHFA, and RD lending requirements and state and federal compliance lending regulations
• Certification in loan processing or a related field is a plus (e.g., Certified Loan Closer).