Department: Mortgage Lending
Reports to: SVP Retail Lending
The primary purpose of this position is to assist Generations Federal Credit Union to live out its Mission, Do the Right Thing, by providing remarkable service to both external members and internal members. This position is responsible for closing coordination, funding, and certain-post closing processes related to real estate loans, including secondary market mortgages, home equity, and home equity line of credit.
Primary Duties —
- Performs a pre-closing review of each assigned mortgage loan file to ensure that the file contains the require closing documentation (such as the title commitment, survey, and property insurance) and that each file is in compliant with regulatory guidelines, GFCU compliance procedures, and investor requirements. If the documentation is deficient, the closer/funder will work with internal staff, members, and third parties to obtain satisfactory documentation.
- Reviews closing documentation to identify potential risks and issues related to the property, insurance, and/or the closing process and effectively mitigates those risks through proper instructions to the title insurance company and/or legal resolution through the document preparation attorney.
- Coordinates the preparation of closing documents through the document preparation vendor. Typically, this will involve inputting the necessary information into the loan origination software (LOS) and transmits the data and closing documentation to the vendor. Reviews completed packages for accuracy prior to closing.
- Facilitates timely closing of each transaction either through in-office or title company closings. Acts as primary point of contact for title companies, borrowers, and interested parties with respect to the closing and funding process. For in-house closings, the Closer/Funder will utilize effective communication and member service skills to assist the member(s) in their review and execution of the closing documents. Each transaction with the member should be handled with the upmost professionalism and efficiency while ensuring that each document is executed correctly.
- Ensures that closing processes, timelines, and documentation are consistent with regulatory guidelines and best practices, including but not limited to TILA and RESPA requirements. This specifically includes timely and accurate review of settlement statements (and related information), as well as the proper establishment of any required escrow amounts. Will be required to complete closing audits and checklists to ensure accuracy and compliance standards are met for each loan transaction.
- Ensures timely funding of each loan transaction. Coordinates the disbursement of loan proceeds (usually via wire) and reviews funding packages immediately upon receipt to ensure that all funding requirements are met. For in-office closings, will ensure proper disbursement of the loan proceeds to prior mortgagees and third party vendors requiring payments. Also, for these transactions, the Closer/Funder will ensure proper filing and recording of the mortgage instrument to establish GFCU’s lien on the property.
- May be responsible for coordinating processes related to investor delivery (and loan purchasing), government insuring, and final document (final title policy and recorded mortgage) tracking. Will work directly with the investor and government entities (such as FHA) to deliver and clear any conditions in order to facilitate a timely purchase and/or insuring of the completed loan packages.
- May be required to perform other secondary market functions as assigned by department management.
- Performs other duties as assigned.
Must have high school diploma or equivalent.
Must have a minimum of three (3) years experience in the mortgage lending, legal, or audit fields.
Must have the following skills and/or abilities:
- Working knowledge of mortgage regulations, including RESPA, TILA, flood, and appraisal requirements.
- Strong attention to detail and commitment to producing quality, accurate work.
- Must be able to effectively present and communicate with internal and external partners.
- Must possess strong self-management skills, including the ability to work well independently, manage time effectively, and exercise the drive and initiative that produces quality results.
- Strong interpersonal and relationship-building skills. Must provide excellent service to employees, members, and partners.
- A working knowledge of financial products, marketing, and communications, customer experience, and credit union operations and systems.
- Proficient with the Microsoft Office Suite.
- Excellent communication and customer service skills (both oral and written).
- Excellent organizational skills and an ability to prioritize within a multi-tasked environment.
Physical/Other Requirements —
Must be able to:
- Stand or sit for long periods of time.
- Lift 10-20 lbs.
- Must be flexible in schedule to work evenings, weekends, and holidays.
- Possess a high level of professionalism and confidentiality; complying with all Federal and State compliance policies, HMDA requirements and NMLS.
Service Expectations —
- To deliver service that is in alignment with the credit union’s Service Promises:
- Treat members with a positive attitude.
- Listen to and fully understand the members’ needs.
- Offer solutions that meet the members’ needs
- Take ownership of the Member Experience provided.
- Give and receive feedback for improvement.
- Meets all established sales and service goals.
- Possess adequate product knowledge as measured by the annual product knowledge certification assessment.
Apply online, at https://mygenfcu.acquiretm.com/job_details_clean.aspx?id=1564