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Mortgage Loan Closer
$49,920 - $54,080/Yr
Metasys Technologies - Southington, CT
posted about 2 months ago
Full-time - Mid Level
Southington, CT
Professional, Scientific, and Technical Services
About the position
The Mortgage Loan Closer is responsible for coordinating all phases of loan closings, ensuring that all documentation is complete, accurate, and compliant with regulatory standards. This role involves reviewing loan data, communicating with various parties involved in the transaction, and resolving any issues that may arise during the closing process.
Responsibilities
- Review and complete loan data in the Loan Origination System (PowerLender).
- Prepare, review, and deliver loan closing packages to closing agents.
- Manage and resolve problems or issues that arise with loan documentation.
- Act as an intermediary between all parties involved in the loan transaction.
- Ensure closing complies with all corporate, state, federal, and agency guidelines.
- Coordinate loan closing proceeds and ensure they are disbursed as required.
- Perform and generate compliance tests.
- Prepare draft settlement statements.
- Review file documentation for accuracy per guidelines and investor requirements.
- Coordinate and prepare documents necessary to take mortgage loans from approval to closing (CD, Mortgage, Note, Final TIL, title work, homeowners insurance, flood insurance, payoff letters).
- Work closely with the processing department and title companies.
- Assist with clearing conditions on suspended files.
- Maintain a production queue of mortgage loans.
- Coordinate loans with MBOs, LOs, and 3rd party vendors to close within credit document expiration and rate lock expiration dates.
- Review all pre-closing documentation, including title commitment, homeowners, and flood insurance policies.
- Obtain verification of employment.
- Image all documents to the system of record.
- Perform other duties as may be required.
Requirements
- 1 year of experience as a Mortgage Loan Closer.
- 4 years of experience with TILA regulations.
- 4 years of experience with Loan Operating Systems.
- 4 years of experience in loan processing.
Benefits
- Health insurance
- Dental insurance
- Paid time off
