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Educational Federal Credit Union · 1 month ago

Mortgage Loan Closer/Funder

Kendall, FL

Full-time

Onsite

Entry, Mid Level

2+ years exp

Educational Federal Credit Union is seeking a Mortgage Loan Closer/Funder responsible for closing and funding residential mortgage and home equity loans. The role involves verifying closing conditions, preparing closing packages, and ensuring compliance prior to closing and funding.

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Responsibilities

Reviews all closing conditions provided by the underwriter are cleared by obtaining necessary documentation and in compliance to secondary market and credit union policies

Prepare and send out 3-day Closing Disclosure within timeframes for RESPA/TILA compliance. Explain and answer questions regarding the CD document to the member. Re-disclose when required

Complete verbal verification of employment and any other verifications as required. Ensure all documents in file have not expired at time of closing

Clears tasks in the LOS system or resubmit to Underwriting for approval as instructed

Reviews Closer pipeline reports daily to manage flow of anticipated closings. Communicates with processors and underwriters regarding file status. Works on loans based on date of receipt and priority given

Enter loans on appropriate spreadsheets with updated closing information for management and department tracking

Communicate with member, title/closing agents, realtors, insurance agents, to coordinate and schedule closing and obtain any pending items and clear title required

Complete checklists to ensure all documents and tasks have been completed throughout the process. Update LOS with expected closing date

Meet with members and conduct closings on home equity loans and HELOCs in the Home Loan Department

Review all closing documents to ensure signature and accuracy of documents upon receipt

Funds the loans by performing applicable wire transfer transactions for first mortgage loans. Funds loans in Symitar system for home equity type loans and HELOCs. Mails out funding checks to third parties

Must comply with all company policies and procedures, applicable laws and regulations including but not limited to RESPA/TRID, Regulation B, Regulation Z, Fair Lending, NMLS Safe Act

Cross-sell credit life/disability insurance products on Home Equity loans and lines of credit

Maintain personal information up-to-date in the NMLS registry within 30 days of a change

Process Loan Closings, Advances, Payments, and Maintenance Items – including Rollovers, Conversion, Margin Changes and Other Operational Transactions – , Loan Closings, Renewals and Loan Modification on an on-going basis

Compare documents and discuss discrepancies with underwriter and loan officer for resolution

Coordinate with settlement agent for timely funding and disbursement

Ensure completion of provided docs for necessary title reports, credit reports, appraisals, and inspections

Maintain data integrity as loan progresses through closing

Prepare funding figures and request wire for funding after balancing with settlement agent

Review signed closing docs for accuracy and compliance

Maintain data integrity as loan progresses through closing

Prepare funding figures and request wire for funding after balancing with settlement agent

Review signed closing docs for accuracy and compliance

Perform other duties as assigned by management