Mortgage Loan Processor/Closer

Mortgage Loan Processor

Summary

Responsible for processing, administration, and closing of residential mortgage loans through activities such as processing loan documentation by verifying the accuracy of completion, setting up new accounts, and maintaining loan records and files. May prepare disbursement checks and enter loan data into computer systems.

Essential Job Functions

• As a part of your role and responsibilities, it is essential that any relevant information known to you that could impact the team, operations, or decision-making is promptly shared with Senior Management.
• Works with residential lenders to obtain all necessary documentation for portfolio and secondary market mortgage loans.
• Analyzes and ensures all documentation received is accurate and meets product guidelines and underwriting conditions.
• Orders flood determinations.
• Prepares closing disclosures.
• Engages title companies selected for loan closings.
• Ensures a thorough review is completed for accuracy and proper coverage on all title commitments with the assistance of the lender.
• Coordinates residential loan closings with the lender and title company regarding closing dates.
• Works with clients and insurance agents to request and review insurance for sufficient coverage with assistance of the lender.
• Makes loan draws.
• Assists with payoffs, partial releases, and cancellations.
• Assists with and/or coordinates clearing of post-closing exceptions.
• Creates and maintains CIF records for residential loans.
• Works loan exceptions and insurance updates using provided reports.
• Assists lender(s) with obtaining and reviewing all documents requested to process annual reviews.
• Processes residential loan extensions and renewals as needed.
• Assists lenders with collections on delinquent residential accounts.
• Assists the loan operations team with developing and implementing pre-closing and post-closing audits.
• Ensures that all work is in compliance with applicable laws, regulations, and guidelines with the assistance of the compliance officer when needed.
• Sets up and maintains residential loan files in the loan document retention system, ensuring all documentation is accurate and up-to-date before closing and post-closing.
• Maintains customer, company, and management confidentiality.
• Adheres to all company policies and supports management decisions and goals in a positive, professional manner.
• Performs various other duties and activities as assigned by supervisor within the physical constraints of the job.
  
  

Knowledge, Skills And Abilities

• Thorough working knowledge of Mortgage Loan Workflow from origination through post-closing.
• Thorough working knowledge of lending services and related areas, including a high-level understanding of mortgage regulations and compliance requirements.
• Ability to effectively multi-task.
• Ability to work successfully in a fast-paced environment and meet critical deadlines.
• Ability to communicate effectively with customers, real estate agents, insurance agents, and attorneys.
• Ability to negotiate with others and resolve conflicts, particularly in sensitive situations.
• Ability to act with integrity, professionalism, and confidentiality.
• Ability to work in a collaborative team environment.
• Ability to work at various office locations as assigned.
• Strong organizational and time management skills.
• Self-starter with the ability to work independently.
  
  

Education and Experience

• High School Diploma or equivalent required.
• Minimum of 5 years of Mortgage Loan Processing experience, preferably within a financial institution, required.