Description
SUMMARY:
Mortgage loan closing specialists are responsible for assembling, preparing, and reviewing/verifying documents for a loan closing while ensuring all applicable state, federal, and regulatory requirements are met. The Closing Specialist must possess strong organizational and prioritization skills. A basic understanding of VA, FHA and Conventional TRID loan guidelines are needed. Performance requires a high degree of accuracy, problem solving skills and the ability to work in a fast-paced environment. Mortgage loan closing coordinators act as the final point of contact for all parties involved in a real estate closing transaction.
ESSENTIAL RESPONSIBILITIES & DUTIES:
Entry Level - Level I
- Prepare loan closing documents within LOS (Encompass).
- Manage a pipeline of conventional, portfolio, and USDA loans.
- Complete an accurate and compliant Closing Disclosure to be provided to the borrower within the TRID timing guideline requirements.
- Monitor the borrower’s receipt of the Closing Disclosure
- Ensure accuracy of documents sent to closing, including but not limited to borrower names, rate, term and loan type, first payment date and escrow information.
- Review underwriting closing conditions to ensure salability of loan and adherence to the underwriting decision.
- Coordinate funding dates with accounting to ensure accuracy of loan disbursements.
- Ensure fees for lender and title companies are within TILA/RESPA guidelines.
- Coordinate closing packages with title companies in a timely fashion.
- Verify that loan closes within specified locks with investors.
- Analyzing and interpreting compliance reports (MAVENT)
- Order Uniform Closing Dataset (UCD)
- Analyze and interpret compliance report findings (Mavent)
- Order Uniform Closing Datasets (UCD).
Intermediate - Level II
- Must be able to perform all responsibilities and functions listed for Level I with a high degree of independence
- Manage a pipeline of FHA/VA/Conventional loans
- Communicate with Correspondent Lenders and/or internal MLO’s to accurately complete closing documents based on their expectations.
- Cross-Train in post-closing procedures and loan processing.
Senior - Level III
- Must be able to perform all responsibilities and functions listed for Levels I & II with a high degree of independence
- 5+ years of experience with FHA/VA/USDA loan programs
- Manage a pipeline of all loan types.
ESSENTIAL DUTIES, KNOWLEDGE, SKILLS, ABILITIES:
Required:
- Effectively use Microsoft Office suite, mortgage software and other office equipment.
- Familiarity with residential mortgage loan documentation.
- Time-management; perform under pressure and meet deadlines.
- Strong conflict-resolution and communication.
- Customer-service focused.
- Remain detail oriented while multitasking.
Preferred:
- Proficient in Encompass LOS software.
- TRID, FNMA/FHLMC, FHA, VA, and USDA guidelines.
- Familiarity with closing in multiple states.
- Escrow or Title Expertise
COMPENSATION: $21.89 - $27.11 per hour plus bonus
The Servion Group has provided a salary range that represents its good faith estimate of what the company may pay for the position at the time of posting. The specific salary offered will be determined based on factors such as the qualifications of the selected candidate, departmental budget, internal salary equity considerations, and available market information.
General Description of Benefits:
All full-time employees are eligible for Medical Insurance, Telehealth Services, Dental Insurance, Vision Insurance, Life Insurance, Short-term Disability, Long-term Disability, Legal and Identity Theft Protection, Critical Illness Insurance, Hospital Insurance, Accident Insurance, Participation in 401k Plan with up to 5% company match, and Variable Bonus Pay.
Requirements
PREFERRED QUALIFICATIONS:
- Education: High School Diploma; 2- or 4-year college degree in a business-related field preferred.
- Experience: Entry level: 1+ years of mortgage closing experience or 2-3 years of mortgage industry experience
- Intermediate level: 3+ years mortgage closing including FHA and VA
- Sr level or Team Lead: 5+ years mortgage closing including FHA and VA.
- Licenses/Certifications: None
Skills Required
- Effectively use Microsoft Office suite, mortgage software and other office equipment
- Familiarity with residential mortgage loan documentation
- Time-management; perform under pressure and meet deadlines
- Strong conflict-resolution and communication skills
- Customer-service focus
- Remain detail oriented while multitasking
- 1+ years mortgage closing experience or 2-3 years mortgage industry experience (Entry level)
- 3+ years mortgage closing including FHA and VA (Intermediate / Level II)
- 5+ years mortgage closing including FHA and VA (Senior / Team Lead)
- Proficient in Encompass LOS software
- Knowledge of TRID, FNMA/FHLMC, FHA, VA, and USDA guidelines
- Familiarity with closing in multiple states
- Escrow or Title expertise
- High School Diploma (2- or 4-year business degree preferred)
What We Do
Founded in 1987 by three Minnesota credit unions, The Servion Group partners with hundreds of community banks and credit unions across the country. We support our partner financial institutions by providing solutions for mortgage, business lending, realty, title and financial advisory. We are more than a financial services company; we’re an organization dedicated to breathing life into the endeavors of financial institutions and users of our services. With products and services ranging from mortgage, title, and realty, to investments and insurance, to commercial title and underwriting, we're in your corner, eager to help you reach your objectives.
