Mortgage Loan Closer | Lapeer Downtown in Lapeer, Michigan at ChoiceOne Bank

Mortgage Loan Closer

Non-Exempt – Grade Level 5

Equal Employment Opportunity

Corporate Values & Mission

“Provide superior service, quality advice and show our utmost respect to everyone we meet.”

General Summary

Prepares closing documents required for loan closings and disburses funds as needed. Answers telephone inquiries from current applicants, title companies, as well as many others involved in scheduling and coordinating closings.

Reports To: Mortgage Closer Team Lead

Essential Duties and Responsibilities

· Input all data pertinent for closing the loan file. Updates the information on files in the computer as changes are received.

· Obtain reports thru DataVerify to verify the credit information on the file is correct.

· Obtain various insurance commitments and reviews to clear all requirements prior to closing such as tax and assessment verification, power of attorney, trust agreements, death certificates, etc., identifying and handling problems in a timely manner.

· Handle telephone inquiries from customers and other departments and/or offices

· Arrange closing times/location for borrower and title company.

· Work closely with Underwriter to clear conditions/requirements prior to and/or at closing, doing so in a timely manner to ensure closings are accurate and closed as soon as possible.

· Coordinate closing times with customers, realtors, and title companies

· Order mortgage and other payoffs to ensure proper review before closing

· Instruct borrowers to bring any conditions of approval necessary to close.

· Prepare instructions for the title company to close our loan accordingly, if appropriate, avoiding mistakes which may be costly.

· Timely preparation, review and tracking of pre-cd’s for purposes of coordinating closing and adherence to the 3-day rule.

· Accurately prepare borrower’s closing package which includes mortgage, note, disclosures, payment letter, initial escrow, settlement statement, etc.

· Immediately upon receipt of closed loan package from title company, review and identify any corrections to be immediately addressed, including proper signatures, first lien letter provided by title company, and items secured as required by underwriter.

· Complete internal checklist while reviewing closed loan file to verify that all information is accurate and accounted for.

· Complete mortgage extension agreements with front closing, collection of funds as needed, and securing proper signatures.

· Handle all construction and blanket loan flips, preparing all docs and closing procedures.

· Facilitate construction draws, inspections, and surveys during process and prior to term loan closings/flips.

· Review closing documents against prior Loan Estimates to prevent and TIL Tolerance Violations. Track issues for Mgt.

· Additional responsibilities as assigned.

· Be familiar with and comply with the provisions of the Bank Secrecy Act and USA PATRIOT Act as they relate to the functions of this position. Complete all required reports related to those acts and reports any observed violations or potential violations of those acts to a supervisor or other appropriate bank officer.

· Be familiar with and comply with all federal and state banking regulations as applicable.

Competencies

Written and Oral Communication – Effective written and oral communication skills required, with the ability to interface with Internal and external stakeholders and community partners. Has group presentation skills.

Quality – Demonstrates accuracy and thoroughness; monitors own work and the work of others to ensure quality.

Judgment – Displays willingness to make decisions; exhibits sound and accurate judgment; supports and explains reasoning for decisions; includes appropriate people in decision-making process. Makes timely decisions.

Initiative – Undertakes self-development activities; takes independent actions and calculated risks; looks for and takes advantage of opportunities; asks for and offers help when needed.

Qualifications

To perform this job successfully, an Individual in this position must be able to perform each of the above essential duties satisfactorily and exhibit the values of the Company. In addition, the requirements listed below are representative of the knowledge, skill and/or ability required.

Experience and/or Education

• High School Diploma or Equivalent
• Formal on-the-job training or prior loan experience in lending documents
• General accounting knowledge

Physical Demands and Work Environment

Ability to work in an office environment which may include many hours of computer and telephone usage. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

This position description is not to be construed as an exhaustive statement of duties, responsibilities, or requirements. Employees may be required to perform any other job-related instructions as requested by their supervisor, subject to reasonable accommodations.