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Mortgage Loan Closer
$41,600 - $47,840/Yr
Excel Partners - Southington, CT
posted 2 months ago
Full-time
Southington, CT
Food and Beverage Retailers
About the position
The Mortgage Loan Closer at Excel Partners, Inc. 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, preparing closing packages, and acting as an intermediary between various parties involved in the loan transaction. The position is temporary with the potential for permanent placement after 6-12 months.
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 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
- 1 year of experience in loan processing.
- Proficiency in Microsoft Outlook.
Benefits
- Temporary to permanent position opportunity.
- Regular business hours with a full-time schedule.
