Mortgage Loan Closer

$47,840 - $47,840/Yr

Lighthouse Professional Services - Southington, CT

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 agencies. This role involves reviewing loan data, preparing closing packages, and acting as an intermediary between all parties involved in the loan transaction.

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.
• Review and understand elements of property appraisals.
• Obtain verification of employment.
• Image all documents to the system of record.
• Perform other duties as may be required.

Requirements

• Experience as a Mortgage Loan Closer or in a similar role.
• Proficiency in using Loan Origination Systems, specifically PowerLender.
• Strong attention to detail and accuracy in documentation.
• Excellent communication skills to liaise with various stakeholders.
• Ability to manage multiple tasks and meet deadlines.

Nice-to-haves

• Knowledge of corporate, state, federal, and agency guidelines related to mortgage closings.
• Experience working with title companies and processing departments.

Benefits

• Temp-to-hire opportunity
• Competitive pay rate of $23 per hour
• Potential for contract to hire after 6-12 months