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    Mortgage Closer / Post Closer

    Town & Country Credit Union
    Fargo, ND 58104
    Full-time, Part-time
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    Job Description

    Job Description

    POSITION TITLE: Mortgage Loan Closer/Post Closer DEPARTMENT: Credit

    REPORTS TO: Director of Mortgage Operations FLSA STATUS: Non-exempt

    Position Description: In preparation of loan closing, the Mortgage Loan Closer/Post Closer will prepare the preliminary Closing Disclosure, balancing with the title company, and delivering to Loan Officer/Borrower within required timelines. Once a loan approval notice has been issued by underwriting, prepare all necessary documentation required for the loan closing as specified on the loan approval notice. This includes producing closing documents and transferring funds to title companies. Documents must be delivered to the title company/closing agent in a timely manner. Once the closing has occurred, the Mortgage Loan Closer/Post Closer will facilitate all aspects of the post-closing process in accordance with Town and Country Credit Union guidelines, policies, and procedures. Responsible for reviewing and packaging closed loan files to be submitted directly to outside investors for purchase. Will review closed loan packages for all required documents and signatures, watch rate expiration and closing dates for shipping purposes, prepare loan funding packages for investors, ship/upload files to investors/agencies, and resolve investor suspense notifications. Will also process investor loan funding and final document delivery to investors and agencies.

    Essential Functions:

    • Complete closing input forms to accurately prepare settlement statement and closing documents; review and delivered closing documents as required for loan type and program using computer system.
    • Communicate with settlement agent to gather information for accurate Closing Disclosure preparation; and coordinate delivery of the documents.
    • Prepare funding checks or wires so loan funds are delivered to title companies for funds disbursement.
    • Once a closed loan package has been returned, disburse and fund closed loans to appropriate general ledger accounts and maintain applicable computer software and spreadsheets.
    • Verify that closing documents are signed and dated accurately.
    • Communicate with title companies on outstanding closing conditions required to fund the loan.
    • Monitor MERS transaction, registering transferring and monitoring MERS transactions.
    • Review closed loan files to ensure all necessary underwriting loan approval conditions have been satisfied by underwriter, processor and closer.
    • Follow investor requirements for packaging and shipping complete files for purchase and obtain any trailing documents required by investor.
    • Complete all applicable agency insuring, posting upfront mortgage insurance premiums for FHA, loan insuring and servicing transfer, paying, activating, and servicing transfer for Conventional private mortgage insurance, posting funding fee and obtaining loan guaranty for VA and USDA, etc.
    • Communicate regularly and follow up with applicable individuals on the status of all outstanding loan packages.
    • Work with accounting department to resolve any general ledger balancing issues and forward any necessary invoices/bills to be paid after verifying information for accuracy.
    • Maintain an understanding of 1098 and HMDA guidelines, log and verify information in computer system for completeness and accuracy.
    • Other duties as assigned.

    Performance Measures:

    • All tasks are completed efficiently, effectively and accurately in accordance with all established policies, standards and security procedures.
    • All tasks are completed in a timely manner, ensuring that the loan application moves through the pipeline in accord with regulatory requirements, while meeting all loan requirements.
    • Demonstrated ability to understand complex documentation and verbal communications, to communicate information and requests effectively to others.
    • Members and loan parties are served in a manner that builds strong business relationships, questions are answered accurately, courteously and promptly.
    • Strong working relationships with management and co-workers across all departments.


    EDUCATION: University degree helpful, but cannot substitute for mortgage experience.

    EXPERIENCE: 2 + years of residential mortgage processing, post-closing or other directly related experience is required.

    SKILLS: Excellent verbal and written communication skills; strong math and analytical skills; attention to detail; strong interpersonal and organizational skills and ability; able to utilize computer and financial software as needed in the position.

    Job Posted by ApplicantPro
    Posting ID: 567759126Posted: 2020-08-12