Post Closer

Date posted:

Department:

Lending

Location:

Long Island City (HQ) - Queens, NY

Description:

Responsible for the stacking and review of all closed mortgage and equity loan files to ensure compliance with UNFCU and regulatory requirements, including reviewing closing legal documents. Assumes responsibility for reviewing booking/disbursement of loans and follow-up for final/completed packages. Performs pre-funding quality control reviews on a sample of mortgage loan files prior to closing.

Accountabilities:

• Stack and assemble mortgage and equity closing packages in preparation for imaging and filing.
• Follow-up on trailing documents and maintain post closing tracking of recorded and legal documentation in mortgage software system.
• Perform pre-funding quality control in accordance with secondary market guidelines.
• Perform accurate review of closed loan documents including but not limited to Note, Mortgage Title Commitment, Closing Disclosure and insurance.
• Create new legal file and ensure that consolidation documentation is transferred to new file on CEMA refinances.
• Ensure that documents are consistent in their compliance with the loan closing instructions, the title commitment and the purchase contract.
• Review all funding requirements and instructions.
• Ensure that all underwriting and closing conditions have been cleared.
• Maintain direct communication with closing department, title insurance companies, homeowner’s insurance companies, attorneys and any other party to the transaction to ensure receipt of accurate final documents in a timely manner.
• Coordinate changes, revisions, and corrections with the mortgage documents, closing agents, vendors, or mortgage insurance companies.
• Responsible for submitting flood insurance and private mortgage insurance certificates to corresponding vendor.
• Prepare tax forms for submission to tax service vendor within one month of closing. Review legal description of the property.
• Examine settlement statements to review accuracy of escrow disbursements. Establish and review payee codes and coordinate with the loan servicing area.
• Review of title Alta and hazard/flood insurance policies for accuracy, completeness and compliance with State, Federal and UNFCU policies and procedures.
• Verify the data in the Loan Origination system conforms to the data in the loan file.
• Review of new loans on the FICS system once loans have funded.
• Review closed loan files to ensure completeness and compliance with UNFCU and appropriate regulations.
• Assist in problem resolution, i.e. title problems, missing documents, assignments, etc., of closed files.
• Participate in UNFCU training programs.
• Process and deliver secondary market loan collateral.
• Audit closed loan documents on a rotating basis.
• Assist in maintaining the file room documentation.
• Perform other duties as requested by management.

Qualifications:

TYPE & AMOUNT OF EXPERIENCE:
• Bachelor’s degree and 2-4 years of experience in a mortgage loan post closing, processing or closing environment
• Experience in a risk management role desired e.g. underwriting, quality control etc.

TECHNICAL COMPETENCIES:
• Knowledge of mortgage loan products, policies and procedures
• Thorough understanding of real estate closing procedures
• Familiar with CFPB, secondary market loans, RESPA, Regulation Z, title insurance, title reports, notes mortgages and related documentation
• Proficiency in applicable PC/software skills (familiarity with mortgage processing/closing software desired)

BEHAVIORAL COMPETENCIES:
• Excellent sales/customer service skills
• Strong organizational, multi-tasking, and time-management abilities
• Excellent communication skills, both verbal and written
• Strong attention to detail
• Professional appearance and willingness to work flexible work hours

WORK ENVIRONMENT/CONDITIONS:
• Standard office conditions

In addition to any specific job requirements in connection with Bank Secrecy Act and/or OFAC (BSA), employee must (i) be aware of BSA matters commensurate with the position; (ii) report any suspicious activity to the manager or compliance department; and (iii) satisfactorily complete any required BSA training.