Mortgage Closer

Date posted:

Department:

Lending

Location:

Washington DC

Description:

UNFCU is expanding into the greater Washington, DC area. This position assumes ultimate responsibility for accuracy of loan booking and disbursement of funds. This position is responsible for all aspects of closing residential mortgage loans and home equity lines of credit in compliance with applicable Federal, State and NCUA rules and regulations. This includes, but is not limited to, scheduling closings, coordinating closings with outside attorneys, and conducting all in-house closings, as well as the preparation and review of legal documents and the title closer responsibilities. This position is based in Washington, DC and reports to the Director, Mortgage Production – Mid Atlantic Region along with the DC-based roles of Mortgage Loan Officer, Mortgage Processor and Mortgage Underwriter. The mortgage operations-related roles have a dotted line relationship with NY’s Mortgage Operations Manager.

Accountabilities:

Review all documentation pre-closing to ensure completeness and compliance including: title report review, mortgage payoff information, proposed assignment information, and homeowner’s/flood insurance. Communicate/inform members of the status of their applications as requested, via telephone or written communications. Assist in problem resolution, i.e. title problems, missing documents, assignments, etc., of pending files. Request all out of state documents at least 48 hours prior to closing. Prepare file for document printing 2 days prior to closing. Communicate with members regarding closing costs, i.e. actual vs. estimates 48 hours from closing. Ensure that lock in fees; first time homebuyer’s credits and pre-approval refunds are processed accurately and on time.

Review loan booking and disbursement for accuracy. Sign disbursements checks as required. Balance General Ledger information for mortgages as requested by Accounting Department. Wire out all payoff funds as required. Send out required documents to the title company/county clerk as required. Send out all mortgage payoffs, tax/insurance payments, title company funds for refinances.

Monitor status reports from attorneys and title companies and update FICS. Confirm all information in FICS is accurate (including but not limited to: dates, rate, term, vesting, tax info.). Review Equity line postings and insure PLD is updated.

Monitor the Mortgage Processor's daily activities to ensure accuracy and compliance, including assisting the Mortgage Processor to keep up with the work due to high volume of closings.

Ensure closings are coordinated and/or scheduled within a reasonable timeframe. Attend and conduct all in-house closings and perform the role of the title closer, which includes but is not limited to: marking up the title binder; confirm tax payments and mortgage payoffs; assignments of mortgage; title affidavits, etc. Serve as Notary Public as needed.

Monitor additions or changes to loan programs or procedures and ensure information is being followed by appropriate parties, i.e. FAND, attorneys, title companies, etc.

Confirm all closing documentation is in from closing settlement/attorney for outside closing, Follow up with title companies/attorney with respect to missing documentation. Obtain and confirm ALL closing figures 2 days prior to closing for the HUD-1.

Review closed loan files to ensure completeness and compliance with UNFCU and appropriate regulations. Forward completed closed mortgage files to loan servicing department within five (5) business days of funding. Run reports to ensure loans are being transferred to loan servicing on time. Obtain the completed mortgage surveys.

Qualifications:

Must possess a full range of first and secondary mortgage closing knowledge. Work assignments require the use of independent judgment on issues that are complex, interpretive and evaluative in nature. Knowledge of mortgage products and ability to analyze related mortgage documents necessary. Must be proficient in secondary market closing requirements and mortgage terminology. Full knowledge and understanding of RESPA, Regulation Z, title insurance, title reports, notes, mortgages, and related documentation. Requires excellent oral and written communication skills; sales, customer service and proficiency in applicable mortgage software. Must be a notary public. A professional appearance and a willingness to work flexible hours as needed are also requirements.

A typical pathway to obtaining the requisite knowledge and skills is graduation from a two-year college or university with a degree in business or a Paralegal Certificate, and a minimum of 3-5 years of progressively responsible experience performing mortgage closing functions in a medium to large sized organization.