Job Description
SUMMARY:
The Closing position is responsible for all duties pertaining to the issuance of the initial closing disclosure, closing documents and of the Funder position, which include the following: issuing the initial closing disclosure along with preparing and drawing closing documents for signing. They will also review the closing documents to ensure accuracy and completeness. They will Interact with closing agents, processors and underwriters to obtain necessary fees and documentation to ensure each loan is accurate and compliant with loan approval and adheres to all product guidelines, underwriting guidelines and state and federal regulations, delivery of the initial closing disclosure to the borrower/buyer, the closing document package to the closing agent, the calculation and wiring of funds to the closing agent and the delivery of closing package to the shipping department. They must have knowledge of all loan products including affordable loan products, underwriting guidelines, escrow/title practices, as well as regulatory compliance laws and they apply to mortgage transactions. This position will interact with Operations and Sales staff and must have excellent oral and written communication skills along with a strong sense of customer service.
ESSENTIAL DUTIES AND RESPONSIBILITIES
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
Access the initial closing disclosure workflow daily to monitor and begin the Closing Disclosure process
Collaborates with Closing Agents via secure email regarding closing company fees
Communicate with broker/branch clients and internal staff (Processors, Mortgage Loan Officers, Coordinators and Business Development Managers) on all closing disclosures in progress
Contact the appropriate branch/broker to verify Lender/Broker charged fees.
Check and verify information in LQB system for property address, legal description, fees, taxes, hazard insurance, impounds, agents and borrower’s name input accuracy.
Confirm and verify initial closing disclosure is received. Signed and logged into the LQB system properly.
Verify 3 day mandatory wait period has been satisfied prior to dating and disbursing the final legal loan documents.
Prepare all loan consummation and closing disclosure documents ensuring all necessary documentation is complete and accurate for a salable loan on the secondary market
Complete applicable checklists and run high cost test to include Section 32, State Predatory Lending Laws, FNMA, FHA, VA and Affordable lending guidelines regarding fees
Review and sign off "prior to doc" conditions prior to issuing loan doc's to closing agent.
Verify flood certification and Unites States zip code to LQB system information.
When funding; Review of loan packages and preparation of closing documents that adhere to loan
approval, lock confirmation, product guidelines and state and federal regulations.
Timely delivery of funding conditions to Processor and closing agent with clear and concise instructions as to necessary documentation required for loan funding.
Review of executed loan documents ensuring all necessary documentation is complete and accurate ensuring a salable loan on the secondary market.
Balance loan file and work closely with closing agent to determine final wire/funding amount.
Ensure system is in place to track conditions and follow up items in a timely fashion.
Provide closing information and pertinent details in oral and written communication to Closing Agents, Brokers, and Sales staff
Work closely with Quality Control team respond to loan audits timely and thoroughly.
Attendance: This is a fulltime position that requires regular, reliable and punctual attendance.
Provide feedback to management on suggested policy changes and/or enhancements.
Maintain company service levels to provide appropriate turn times.
Review and sign off closing conditions as needed.
Other duties as assigned.
Expected production level fund 3-5 loans per day and check in minimum of 4 per day. Must be able to fund at least 100 loans per month when volume dictates. And also maintain the Closing Disclosure and loan documents on the same pipeline of loans.
QUALIFICATIONS
The requirements listed below are representative of the knowledge, skill and/or ability required for this position:
Minimum 5 years’ experience in preparing and issuing of the closing disclosure, preparing and issuing of the closing documents and funding 1st and 2nd lien mortgage loans for FHA, VA, CONV, CalHFA, 203K loan products and knowledge of affordable housing guidelines,.
Ability to act in a discrete manner in dealing with confidential records and sensitive information
Through knowledge of loan products including affordable housing products, underwriting guidelines, escrow/title practices, documentation requirements and regulatory compliance. (MDIA, HVCC, RESPA, HPML)
Strong organizational skill with ability to prioritize, multi task and complete multiple tasks on schedule, often in a stressful environment
Ability to prioritize multiple tasks under strict deadlines and follow through with branch and broker requests
Ability to read and interpret investor, Agency and MWF guidelines
Must be detail oriented with high-level math skills.
Must have excellent oral and communication skills with a strong sense of customer service
Ability to relate and work well with others.
Possess strong analytical, problem solving and decision making skills.
Demonstrate professional behavior and teamwork, in punctual, dependable and results oriented.
Extended hours may be required as needed, including weekends/evenings and Holidays.
Wet Closing experience required
Company Description
We are excited to introduce you to Mountain West Financial. Michael Douglas and Gary Martell Jr. began their career in the mortgage industry as competing Originators. They use that background today to maintain an environment where the entire company works toward one common goal; to close loans while delivering customer service that is second to none. Since 1990 Mountain West Financial has built a reputation of not just putting people in any loan, but to put them in a home loan that suits both their short and long term goals, to earn the opportunity to become a lender for life. Our Success over the past 28 years is derived from our goal of offering sustainable homeownership solutions, doing right by our team, clients, and referral partners drives us to continuously expand out program offerings, systems and tools. In order to accomplish these goals we constantly analyze and improve our internal processes to enhance our service levels to all of our clients, both internal and external while maintaining our high business standards. Qualifications To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Education/Experience One year certificate from college or technical school; or three to six months related experience. We also have other openings at this location as for more information please refer to our recruiting website: http://recruting.mwfinc.com Mountain West Financial is proud to be an Equal Employment Opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.