Job Description

Job Description

Post Closer Job Description

Job Responsibilities:

· Pull daily Suspense reports from Investors sites to identify loans that have be suspended for purchased

· Log notification of suspense information in the system documenting the date of the first condition issued on the loan daily upon receipt of the suspense condition and the suspense(s) cure by date.

· Review and obtain clarity from the investor when needed to determine the suspense item and what the investor is looking for to cure defect.

· Review the closed loan file to determine if suspense item(s) are already in the loan file and submit to the Investor for review and curing of suspense or notify and work with internal and external departments and the clients to obtain needed documentation to cure suspense items timely.

· Log documentation received and upload all suspense documentation received promptly to investor sites for review and purchasing of the loans.

· Monitor daily condition reports from the investor for updates on suspended loans or new conditions as received

· Notify management when necessary on any issues of salability at an investor

· Monitor time of loans on the warehouse lines and advise Post Closing Manager of those at potential risk for curtailment from the warehouse.

· Monitor a pipeline to ensure all loans shipped are either conditioned or purchased in a timely matter

· Have a strong understanding of agency and investor guidelines and overlays

· Provide updates on the status of assigned loans with investors to management

· Meet monthly purchased loan goals as determined by management

· Avoid suspense fees incurring on loans by meeting investor guidelines

· Prepare and provide Post Consummation Closing Disclosures and refund checks as needed following regulatory guidelines.

· Other duties as assigned

· Assumes an “audit” function for files prior to shipping the file to the secondary market. Ensures all necessary documents are complete and included in all files before completing the file as required by the underwriter.

· Uploads all files to secondary market vendors by investors lock date to ensure prompt delivery and reduction of roll fees and extension fees.

· Delivers insurance letters to change the mortgagee clause for secondary market files.

· Delivers the flood determination transfer letter to certain investors.

· Maintains accuracy of Warranty Deed, Ground Water Hazard Statement, Declaration of Value, Mortgage and any additional documents that are to be recorded

· Uploads documentation for recording to the appropriate County Recorder in a timely manner to ensure their first lien position.

· Orders final title commitment (901s) and follows up after closing to ensure prompt delivery of Title Guaranty to reduce final documentation fees from secondary market investors.

· Sends final documentation to secondary market after Title Guaranty is received and mails out abstracts to appropriate individuals/organizations.

· Delivers notes to investors in a timely manner to prevent roll fees.

· Balances the secondary market funding when a loan is sold to ensure accurate postings by both vendor and MLA.

· Registers all secondary market loans with MERS in a timely manner to ensure accuracy of lien position and to prevent delays in the loans being purchased.

· Activates and pays PMI in a timely manner on loans that require PMI.

· Ensures receipt of first payments for required secondary market loans through mailings and other forms of member contact.

· Verifies accuracy and completeness of mortgage loan data entry on core system for piggyback second mortgages.

· Follows up on any missing documentation in mortgage file and scans and indexes all closed in-house mortgage loan file documentation.

· Creates a permanent file for all files to retain documents such as the original Note and Mortgage. Performs additional miscellaneous filing as necessary.

· Ensures neatness and organization of loan file/document storage.

· Tracks mortgage loan file/document retention. Coordinates shredding and disposal of mortgage loan files/documentation when the file/documentation are no longer required to be retained.

· Works directly with members and loan officer for the coordination of all loan advances and reimbursements on construction loans.

· Manages construction loan portal on mortgage website and monthly mailings to vendors to collect any missing lien waivers and documents accordingly to avoid liens to obtain final title policy.

· Orders Verafin/OFAC on vendors for requests over $10,000.00.

· Communicates directly with members and the loan officer to obtain and manage construction loan extension requests.

· Creates and sends construction loan extension documentation to members to avoid loan maturing and extend the loans as documentation is received back.

You will have :

• Expert knowledge of TRID
• MERS experience
• Experience with Encompass 360
• Attention to detail
• The ability to independently plan, prioritize, organize and complete work in an efficient manner.
• The ability to work quickly and accurately.
• A flexible attitude with ability to work under pressure
• Strong written, verbal and interpersonal communication skills and the ability to use e-mail, telephone, and other communication tools as necessary.

#NMLS 27820

**We are an Equal Opportunity Employer

Company Description

Since 2005, 1st Signature Lending has been a leader in the home loan industry and offers a decade of responsible lending experience. We realize how complicated and stressful applying for a loan can be, which is why we take pride in providing personal attention to each and every one of our clients, helping them throughout the entire loan process from the first signature to the last.

NMLS #27820
We are an equal opportunity employer

Company Description

Since 2005, 1st Signature Lending has been a leader in the home loan industry and offers a decade of responsible lending experience. We realize how complicated and stressful applying for a loan can be, which is why we take pride in providing personal attention to each and every one of our clients, helping them throughout the entire loan process from the first signature to the last.\r\n\r\nNMLS #27820\r\nWe are an equal opportunity employer