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Coastal1 Credit Union · 1 month ago

Mortgage Closer II

Pawtucket, RI, US

Full-time

Onsite

Entry, Mid Level

$47K/yr - $79K/yr

2+ years exp

Coastal1 Credit Union is a member-focused organization serving over 130,000 members, and they are seeking a Mortgage Closer II for their Real Estate Lending team. The role is responsible for the timely closing of residential mortgage applications, ensuring all loan documentation is complete, accurate, and compliant with regulations.

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Comp. & Benefits

Responsibilities

Maintain current and accurate knowledge of all loan programs offered by Coastal1, as well as current and thorough knowledge of industry standards for loan documentation including secondary market, government regulatory agency, FNMA, VA, USDA Rural Housing, RI and MA Housing Agencies

Verify and input all closing data accurately into the LOS system and the closing documentation system for all loan types, including conventional, FHA, VA, USDA, and construction-perm loans

Prepare and send Closing Disclosures to all borrowers in compliance with CFPB and TRID guidelines and timeframes. Follow up with the borrower for acknowledgements. Retain all documentation showing disclosure and receipt in file

Responsible for verifying adequate coverage for Flood and Hazard Insurance

Ensure all closing and processing conditions are cleared, complete verbal VOE, and complete soft-pull credit prior to approving disbursement of mortgage funds

Responsible for completing funding sheets and loan set-up sheets. Enter on FISERV loan system

Coordinate all aspects of the closing process and ensure compliance with appropriate regulations

Assist in clearing noted pre- and post-closing file conditions and/or exceptions

Respond to all inquiries and requests by internal/external customers. Provide guidance to less experienced closers

Review mortgage file to ensure that all applicable disclosures have been signed, initialed, and dated by borrower(s). Disclosures not properly executed will be sent to mortgage closing for execution

Review underwriting approval sheet to ensure approval is within established limits and conforms to Coastal1’s guidelines. Contact members, realtors, attorneys, etc., to request missing or erroneous information

Review title work provided for defects. Ensure legal description matches subject property, and all other identifying information corresponds to other documentation in the file

Verify legal description on appraisal and title binder. Ensure final 1033 (Uniform Residential Applications) contain all verified information based on RMCR, VOE’s, VOD’s, appraisal, title binder and member supplied information

Prepare and review all closing documentation, ensuring compliance. Schedule mortgage closings. Coordinate time and date with all parties (i.e., buyer, seller, closing agent, realtor, etc.)

Calculate closing figures and coordinate loan funding with accounting department. Effectively communicate and coordinate with Closing, Funding and Secondary departments. Oversee the transfer of the loan file to Loan Servicing

Ensure compliance with Coastal1's Bank Secrecy Act/Anti-Money Laundering Policy and related procedures, Member Identification Program, and the Office of Foreign Assets Control screening and record keeping requirements

Perform other duties as required