What are the responsibilities and job description for the Mortgage Loan Closer position at Texas Tech Federal Credit Union?
Position Summary
The Mortgage Loan Closer is responsible for preparing and verifying documents relevant to the Initial Disclosures and Closing documents associated with a mortgage loan. This includes ensuring all applicable state, federal and regulatory requirements are adhered to. This position manages a pipeline of Conventional, FHA, USDA, VA, and portfolio loans while working with the Origination Team, title company and the legal document review attorney. This person will work professionally in accordance with the Texas Tech CU core values of Trust, Respect, Excellence, Kindness, and Stewardship.
Duties & Responsibilities
- Disclose Initial and Closing Disclosure packages via the ICE Encompass LOS
- Prepare accurate and compliant disclosures.
- Assure all disclosures to the borrower meet the TRID timing requirements.
- Monitor pipelines for Initial Disclosures, change of circumstances and variances to promote continued compliance.
- Ensure the 3 Day CD is delivered to the borrower in a timely manner that meets internal and regulatory requirements.
- Ensure accuracy of documents sent to closing.
- Assist with monitoring the receipt of the Closing Disclosure
- Review underwriting closing conditions to ensure salability of loan and adherence to the underwriting decision.
- Reviews all preliminary documents provided from attorney/title company including but not limited to, title commitment, hazard/flood insurance binder, deed, closing disclosure, power of attorney and/or trust documentation.
- Coordinate closing packages with the title companies and doc preparation attorney in a timely manner.
- Ensure fees for lender and title companies are within TILA/RESPA guidelines.
- Coordinate disbursements and assure accuracy of the funding wires.
- Thorough understanding of compliance finding reports (Mavent)
- Order Uniform Closing Datasets (UCD)
- Performs a pre-closing quality review of loan files prior to releasing closing package.
- Responds to and resolves technical and complex problems that arise.
- Follows up on any deficiency requests by shipping and post-closing to ensure timely procedure for loan purchase.
- Cross-Train in post-closing procedures and processing.
Skills & Qualifications
- High school diploma or equivalent required
- 2-5 years mortgage industry experience required
- Proficient in Encompass LOS Software
- Knowledgeable of TRID, FNMA/FHLMC, FHA, VA, and USDA Guidelines
- Ability to manage multiple projects simultaneously.
- Strong organizational skills.
- Experience in a fast-paced team environment.
- Excellent communication and people skills
This job description is intended to provide a high-level of general requirements for this position. It is not a complete statement of duties, responsibilities, or requirements. Other duties not listed here may be assigned as necessary to ensure proper operations.