The Mortgage Closer II is responsible for preparing closing documents for first mortgage loans. The person in this position is required to have a comprehensive knowledge of UWCU guidelines, policies and procedures related to closing all mortgage lending products. The Mortgage Closer II is responsible for the quality assurance of mortgage loan file closings, and must have expert knowledge in both government loans and construction loans.
The Mortgage Closer II communicates with title companies and internal members to gather all necessary information for accurate document preparation and delivery to the appropriate parties prior to the mortgage closing. The Mortgage Closer II makes sure all terms of the loan are met for ensuring a valid lien on the property secured by UW Credit Union mortgage.
This position must effectively carry out the essential duties of this position in a manner that consistently demonstrates the core values of the organization in a positive manner.
1) Mortgage Closing Responsibilities - 60%
a. Efficiently manage a pipeline of mortgage loan closings.
b. Delivery of all required closing documents in a timely manner for first mortgage products.
c. Supply Loan Officer with Closing Disclosures within established time frames for each loan closing.
d. Work closely with Loan Officers to ensure quality service, including handling of telephone and personal inquiries.
e. Prepare wire transfers for delivery to the title company within established timeframes.
f. Review title commitments for liens to ensure UW Credit Union secures the first lien position and ensure any outstanding judgment, liens, or special assessments are clear of title.
g. Prepare UW Credit Union to UW Credit Union subordination agreements.
h. Perform Escrow holdback account tracking and follow-up.
i. Re-submit loans to Underwriting for loan amount changes when applicable.
j. Responsible for accurate data entry and consistent system data integrity.
k. Maintain and expand knowledge of the various mortgage programs offered by UW Credit Union.
l. Keep current with knowledge and understanding of all policies, investor, and state and federal guidelines related to saleability of the loan i.e. TRID, RESPA, etc
2) Member Service - 20%
a. Communicate with title companies as the department’s closing contact
b. Provide accurate Closing Disclosures to members within stated regulation timeframes
c. Provide and meet service levels for internal and external members
d. Work collaboratively with fellow Mortgage Lending Division team members regarding error resolution
e. Understand UWCU Critical Measures and impact of individual contribution toward organizational and department goals
f. Respond to all email requests in a positive and timely manner
3) Serve as an engaged member of the Mortgage Closing Team - 10%
a. Take responsibility for personal development through training, collaboration and teamwork.
b. Actively participate in dialogs, group meetings and trainings.
c. Arrive promptly and prepared for staff meetings and trainings.
d. Perform other duties as assigned
4) Contribute to Activities that Promote Departmental & Organizational Success - 10%
a. Perform user testing on Loan Operating System.
b. Support the training of new employees and/or temporary employees in the mortgage closing area.
c. Serve as a mentor and positive role model for Mortgage Closer I.
d. Write and update procedures as new processes are identified. Maintain Mortgage Closing Wiki as processes are modified or added.
e. Be proactive in recognizing co-workers across the organization who exhibit UWCU Core Values.
To perform this job successfully, an individual must demonstrate regular, predictable attendance and be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. The individual must be able to successfully pass background checks.
-High school diploma required
-2-3 years experience closing mortgage loans required
-Knowledge of Secondary Market underwriting guidelines
-Knowledge of guidelines and regulations, i.e. Investors, TRID, RESPA, etc
-Knowledge of the principles and practices of effective real estate lending and closing requirements
-Excellent analytical skills
-Strong attention to detail
-Must be able to work independently, organize and prioritize work.
-Have the aptitude to work under and meet deadlines
-Demonstrated ability to work with multiple priorities
-Maintain personal composure in high stress situations
-Efficient time management skills
-Strong written communications and interpersonal skills
-Strong customer service skills
-Comprehensive working knowledge of the Microsoft Office Suite
-Ability to use financial calculators
-Demonstrated ability to work as a team and fill in for or back up fellow teammates as needed