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Mortgage Loan Closer
Envision Technology Solutions - Cincinnati, OH
posted 2 months ago
About the position
The Mortgage Loan Closer is responsible for reviewing and completing loan data in the Loan Origination System (LOS), preparing and delivering loan closing packages, and ensuring compliance with all relevant guidelines. This role acts as an intermediary between all parties involved in the loan transaction and manages any issues that arise with loan documentation. The position requires coordination of loan closing proceeds and documentation necessary for mortgage loans from approval to closing.
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
- Experience in loan processing.
- Familiarity with loan documentation and compliance guidelines.
- Ability to review and understand elements of property appraisals.
