Mortgage Loan Processor/Closing Coordinator

Dean Co-Operative Bank - Franklin, MA

Full-time - Entry Level

Onsite - Franklin, MA

Credit Intermediation and Related Activities

About the position

The Mortgage Loan Processor/Closing Coordinator at Dean Co-Operative Bank is responsible for ensuring that mortgage loans are processed and closed in compliance with all applicable regulations. This role requires a detail-oriented individual who can manage multiple tasks under pressure while providing excellent customer service. The position involves preparing loan estimates, coordinating closings, and maintaining communication with borrowers and loan officers throughout the loan process.

Responsibilities

• Prepare and disclose application package per industry timeline to clients.
• Process loans from origination to close in compliance with established regulations and guidelines.
• Communicate with applicants and loan officers to gather additional information and resolve any issues.
• Manage a pipeline of loans, focusing on meeting critical date deadlines.
• Act as a backup to teammates.
• Review loan applications and ensure all required documents are complete and accurate.
• Recognize and collect needed documentation from clients and third parties.
• Analyze credit reports, income, asset, and other documentation per program guidelines to determine LTV, DTI, enabling submission to Underwriting for condition-free approval.
• Maintain knowledge of and follow all Internal, Federal, and State mortgage loan compliance regulations and policies.
• Act as the main point of contact for borrowers during the loan process, including meeting with borrowers to execute loan documents and close the loan.
• Ensure loan documents are delivered and executed.
• Review commitment letters and monitor fees, closing costs, conditions, and disclosures.
• Refer and review mortgage loans with attorneys.
• Prepare notes and closing documents and initiate requests for missing or incomplete information.
• Communicate with customers and maintain records of all documents ordered, requested, and received.
• Resolve title problems with borrowers and law offices and cure deficiencies.
• Schedule and coordinate closings and work with attorneys in obtaining payoff figures.
• Perform computer file maintenance and maintain ongoing loan files.
• Perform second mortgage closings and monitor closing and funding pipeline daily to ensure timely workflow completion.
• Audit closing packages to ensure accuracy, completeness, and compliance with all regulatory and secondary market guidelines.
• Cross-sell and make referrals for other financial institution products and services.

Requirements

• High School diploma or equivalent; Associate's Degree preferred.
• Minimum two (2) years previous loan administration experience required.
• Experience with Loan Estimate & Closing Disclosure under TILA - RESPA Integrated Disclosure rule implementation and regulation.
• Three years' TRID experience in closing/funding since 2015.
• Ability to multi-task and work well in a fast-paced environment.
• Excellent customer service and organizational skills.
• Intermediate word processing and spreadsheet experience.
• Ability to read and interpret documents such as memos, contracts, loan documents, disclosures, training manuals, help screens, and policy and procedure manuals.
• Ability to communicate effectively with colleagues and customers of the Bank.
• Thorough knowledge of loan disclosures, loan closing documents, post-closing, and loan file review functions.

Nice-to-haves

• Experience in a team environment with positive interaction with co-workers and management.
• Ability to respond effectively to sensitive inquiries or complaints.
• Ability to define problems, collect data, establish facts, and draw valid conclusions.