Mortgage Loan Closer
Mortgage Loan Closer
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Salary Not Disclosed
1 Vacancy
Job Description
SUMMARY:
Waterstone Mortgage Corporation is seeking a detailoriented and highly motivated Mortgage Loan Closer to join our dynamic team! This role is integral in ensuring the smooth and efficient closing of mortgage loans while maintaining compliance with industry regulations and company policies. The ideal candidate will have 5 years of experience in the mortgage industry proficiency with Encompass loan origination software and a strong understanding of the loan closing processes. This position requires a selfdriven professional with excellent time management critical thinking skills and the ability to work independently in a fastpaced environment.
The Mortgage Loan Closer (MLC) is responsible for coordinating all phases of loan closings. The MLCs responsibilities include reviewing loan data completing missing or correcting erroneous data and reviewing information submitted by the loan officer processors loan partners and underwriting. The MLC will communicate with internal and external associates closing agents and all parties involved in the transaction ensuring all closing documentation is complete accurate and in compliance with all applicable regulatory agencies.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Manage a full pipeline prioritizing files based on department SLAs including:
- Audit and balance (with title) all files up to seven days prior to closing to ensure compliance with federal state investor and underwriting regulations/requirements.
- Review files for data integrity including (but not limited to) borrower name address loan amount etc.
- Review HOI PMI flood insurance title commitment and other documentation for compliance with investor and loan program requirements.
- Timely delivery of initial CDs within 48 hours of file assignment.
- Assemble complete and accurate loan closing documentation for all states and all loan products offered by WMC (Conv FHA VA USDA bond loans DPAs grants FHA 203(k) and onetime construction loans) for timely delivery to title 48 hours prior to closing.
- Meet or exceed monthly departmental productivity and quality goals with a primary focus on quality.
- Maintain communication via phone and email with branches and title regarding status of files.
- Assist the Loan Delivery Department with postclosing conditions.
- Provide support to other Closers as needed due to volume or absence.
ADDITIONAL DUTIES:
- Complete any additional duties assigned by management.
- Complete regulatory and compliance training as required.
- Assist WMC employees and departments as needed.
EDUCATION and/or EXPERIENCE:
- Five years experience in mortgage loan closing (all loan types conventional government bond) is required.
- Experience in preparing loan closing documents for sale to multiple investors is preferred.
- A high school diploma or general education degree (GED) is required.
- An equivalent combination of education and experience will be considered.
Individuals in this position shall not engage in loan originationduring the course ofhis/her employment with WMC. Loan origination is defined as 1 taking a residential mortgage loan application; or 2 offering or negotiating terms of a residential mortgage loan for compensation or gain; 3 advertising or communicating to the public that you can perform loan origination services.Please see the Loan Originator Compensation Policy for more details on the definition of loan origination.
Employment Type
Full-Time
