Post Closer

Date posted:

Department:

Lending

Location:

Long Island City (HQ) - Queens, NY

Description:

This position is responsible for the stacking and preliminary 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-op for final/completed packages.

Accountabilities:

Stack and assemble mortgage and equity closing packages in preparation for imaging and filing. Maintain post closing tracking of recorded and legal documentation in mortgage software system.

Perform accurate review of closed loan documents including but not limited to Note, Mortgage Title Commitment, HUD-1 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. Establishes and reviews payee codes and coordinates these 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 closing module conforms to the data in the loan file. Review new loan setup on FICS-LP software.

Reconcile discrepancies in loan booking. Reconcile errors and omissions. 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 i.e. BEST.

Assist with consumer lending special projects and quality control.

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:

Two to four years of college (degree preferred) or high school graduate with minimum 2 years experience in mortgage loan processing or closing environment. Thorough knowledge of mortgage loan products, policies and procedures. Basic understanding of real estate closing procedures. Familiar with CFPB, secondary market loans, RESPA, Regulation Z, title insurance, title reports, notes mortgages and related documentation is necessary. Requires excellent oral and written communication skills, sales/customer service skills and proficiency in applicable PC/software skills (familiarity with mortgage processing/closing software desired). Excellent organizational skills are required. A professional appearance and a willingness to work flexible hours.