Mortgage Loan Closer/Funder
Location: Memphis, Tennessee
Description: Independent Bank is currently interviewing Mortgage Loan Closer/Funder right now, this career will be delegated in Tennessee. More complete informations about this career opportunity please read the description below. DESCRIPTION
This is a performance-based position and requires meeting certain production expectations as communicated by management on a periodic basis. Initially, the following is expected:
- Closing documents are to be prepared in a timely manner based on workload requirements as determined by management.
- Zero Defects policy for loan closing documents is expected.
- Accounting for funds disbursed is to be accurate and concise at all times.
Closing Readiness Review: Receives loan package from Loan Processor after it has been fully underwritten, cleared to close and a closing date has been scheduled, reviews for completeness, determines if ready for document preparation. Complies missing items list if fails closing readiness review and returns file to processor - otherwise prepares documents using Encompass Docs.
- Reviews underwriting decision and verifies that all prior to documents conditions have been cleared.
- Complies necessary items to review and clear all at closing conditions.
- Verifies Title Commitment, survey, environmental assessments, etc. issues are cleared.
- Verifies counterparty approval information, insured closing letters, etc. are in place for all title companies and/or closing attorneys.
- Verifies that property and flood insurance coverage is in place and suitable.
- Obtains accurate final settlement costs from closing agent, completed closing T-I-L disclosure and checks for discrepancies vs. initial GFE/T-I-L. Returns file to processor for re-disclosure if necessary.
- Reviews title commitment and completes necessary vesting, parties and legal description information.
- Prepares final closing T-I-L disclosure and runs final compliance checks (Mavent).
- Prepares HUD-1 settlement statement and reconciles vs. initial GFE and closing agent settlement cost quotes. Informs parties of exact cash to close/cash back amounts. Send HUD-1 to borrower and other parties at least 24 hours prior to closing for review.
- Completes aggregate adjustment calculation screens and conducts final escrow account calculations.
- Sends documents to closing agent via secure document transfer. Notes eFolder with placeholders.
- Reconciles the loan and prepares accurate net funding.
- Requests wire transfer for net funding to closing agent.
- Receives and reviews at closing conditions.
- Reviews signed copies of critical documents - I.e.: HUD-1, Promissory Note, Mortgage/DOT, Reg Z disclosures, Rescission Notices, etc.
- Authorized closing agent to disburse funds after clearing above items - issues funding number.
- Coordinates return of signed documents from closing agent in a timely manner.
- Other duties as assigned.
Business-related Associates Degree or high school diploma combined with experience in the position and successful completion of industry training program. Clear eligibility for participation in federally regulated mortgage programs based on LDP, GSA checks and FHA representations and warrants clearance. PREFERRED SKILLS
- Ability to function well in a highly automated work environment - experience using automated closing document systems (preferably in a paperless workflow). Advanced user knowledge of Ellie Mae Encompass 360 Banker Edition preferred.
- Strong knowledge of applicable regulatory compliance needs including RESPA, TILA, Dodd-Frank, SAFE Act, Appraisal Independence, Regulation Z, USA Patriot Act and applicable financial privacy laws.
- Working knowledge of real estate law, title and property issues.
- Reviews underwriting decision and verifies that all prior to documents conditions have been cleared.
- Complies necessary items to review and clear all at closing conditions.
- Verifies Title Commitment, survey, environmental assessments, etc. issues are cleared.
- Verifies counterparty approval information, insured closing letters, etc. are in place for all title companies and/or closing attorneys.
- Verifies that property and flood insurance coverage is in place and suitable.
- Obtains accurate final settlement costs from closing agent, completed closing T-I-L disclosure and checks for discrepancies vs. initial GFE/T-I-L. Returns file to processor for re-disclosure if necessary.
- Reviews title commitment and completes necessary vesting, parties and legal description information.
- Prepares final closing T-I-L disclosure and runs final compliance checks (Mavent).
- Prepares HUD-1 settlement statement and reconciles vs. initial GFE and closing agent settlement cost quotes. Informs parties of exact cash to close/cash back amounts. Send HUD-1 to borrower and other parties at least 24 hours prior to closing for review.
- Completes aggregate adjustment calculation screens and conducts final escrow account calculations.
- Sends documents to closing agent via secure document transfer. Notes eFolder with placeholders.
- Reconciles the loan and prepares accurate net funding.
- Requests wire transfer for net funding to closing agent.
- Receives and reviews at closing conditions.
- Reviews signed copies of critical documents - I.e.: HUD-1, Promissory Note, Mortgage/DOT, Reg Z disclosures, Rescission Notices, etc.
- Authorized closing agent to disburse funds after clearing above items - issues funding number.
- Coordinates return of signed documents from closing agent in a timely manner.
- Other duties as assigned.
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If you were eligible to this career, please email us your resume, with salary requirements and a resume to Independent Bank.
Interested on this career, just click on the Apply button, you will be redirected to the official website
This career will be started on: Tue, 24 Jul 2012 03:21:21 GMT
Apply Mortgage Loan Closer/Funder Here