Job Summary: Close mortgage loans or special product loans ensuring compliance with company, secondary market and regulatory requirements in a timely manner. Act as a liaison between members, buyers, title companies, internal and external partners.
All job positions at 7 17 Credit Union may be assigned further duties with or without notice, verbally or in writing. Essential duties and responsibilities include the following.
Primary Duties:
1. Ensure application and loan documentation is complete and accurate for product type.
2. Prepare error-free closing documents for signing to ensure loan is closed in compliance with company and regulatory requirements.
3. Review title insurance reports and resolve any discrepancies.
4. Generate compliant Closing Disclosure within required timeframes to meet purchase contract expiration date and accurately calculate final closing costs.
5. Communicate with all parties involved in the transaction including but not limited to Applicant/Member, Underwriter, Branch Staff, vendors, partners and Title Company.
6. Schedule and coordinate loan closing between title company and borrower.
7. Accurately enter loan information into Loan Origination system.
8. Accurately on-board loans to the core system.
9. Ensure receipt of final signed loan package from title company in a timely manner.
10. Complete monthly construction loan billing and conversion to end-loan upon completion of construction.
11. Keep informed of current trends in real estate lending and regulations.
12. Meet individual and department goals.
13. Assist in development of training materials and maintenance of job process and procedures on company intranet.
14. Assist in delivery of sold loans to investor and sub-servicer.
15. Assist with tasks associated with mortgage loan servicing including but not limited to escrow, ARM changes, annual notices, payment corrections, logging receipt of recorded mortgages and final title policies and help desk tickets.
16. Identify and resolve discrepancies or issues with closing process or documents.
Secondary Duties:
Backs up other Real Estate Lending positions, including but not limited to Mortgage Loan Servicing and Secondary Market Coordinator.
Confidentiality Requirements: Must keep members' transactions and other Credit Union business in strictest confidence.
Travel Demands: Limited to local area.
Prerequisite Education:
High school diploma or equivalent
Prerequisite Experience: Must have performed the following qualifying functions at least weekly as a regular part of the job duties:
1. With in the last five year, must have 18 months experience preparing closing documents or underwriting real estate loans that are saleable on the secondary market.
2. Excellent communication skills.
3. Deep understanding of real estate loan regulations and secondary market guidelines.
4. Strong PC, typing, Microsoft Excel and Word skills.
5. Meticulous attention to detail.
6. Knowledge of Byte LOS a plus.
Other Prerequisite Requirements of the Position:
1. Must obtain an acceptable score on an Excel assessment.
Required knowledge, skills, and abilities once in the job:
Team player attitude, commitment, patience, enthusiasm, creativity, listening, comprehension, initiative, cooperation, attention to detail, resourcefulness.
Confidence, good judgment, appropriate demeanor and appearance; ability to
interact with employees and members.
Problem solving, decision making, time management, interpersonal communications, organization.
of the Credit Union.
Certifications, licenses required once in the job: must be licensed with the State of Ohio to sell insurance and State and Federal registration to comply with the Safe Act.
Physical, Mental or Visual Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Working Conditions: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.