- Professional
- Office in Lexington
WHITAKER BANK
MORTGAGE LOAN CLOSER POSITION DESCRIPTION
SUMMARY
The position of Mortgage Loan Closer is responsible for preparing, reviewing, and verifying all the necessary documents required for portfolio mortgage loan and home equity line of credit closings. Works closely with the Lender and Settlement Agent/Attorney to ensure everyone involved has the most up to date information in a timely fashion. Responsible for sending loan proceeds to the Settlement Agent/Attorney on the morning of the disbursement and processing all GL tickets. Reviews all closed loan packages for accuracy and works with other areas of the department to ensure loans are closed with enough time to disburse and board within the lock period.
Assures compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations.
ESSENTIAL DUTIES- Prepares all loan closing documents within the Loan Production Software (Encompass)
- Manages a pipeline of portfolio loans and home equity lines of credit for closing preparation.
- Completes an accurate and compliant pre-closing disclosure to be provided to the borrower with the TRID timing guideline requirements and monitors the borrower’s receipt of the pre-closing disclosure.
- Completes an accurate and compliant final closing disclosure to be provided to the borrower within the TRID timing guideline requirements.
- Reviews loan file for accuracy and ensures the accuracy of documents sent to closing, including but not limited to borrower names, rate, term, and loan type, first payment date, and escrow information.
- Reviews underwriting closing conditions to ensure adherence to the loan approval and analyzes and interprets the MAVENT compliance report prior to finalizing closing document package.
- Prepares closing loan document package for delivery to the Settlement Agent or Loan Officer in a timely fashion.
- Completes post-closing review of all closed loan packages for accuracy and completeness.
- Operates computer terminal or personal computer to process loan activity, determine balances, and resolve problems within given authority.
- Types routine letters, reports and forms.
- Completes online compliance training as assigned and required.
- Treats people with respect; keeps commitments; Inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
- You are to conduct yourself professionally and as a bank representative while at work and in public.
- Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
- Follows policies and procedures; completes administrative tasks correctly and on time; supports the Bank’s goals and values; benefits the bank through outside activities.
- Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
- Prepares all loan closing documents within the Loan Production Software (Encompass)
- Manages a pipeline of portfolio loans and home equity lines of credit for closing preparation.
- Completes an accurate and compliant pre-closing disclosure to be provided to the borrower with the TRID timing guideline requirements and monitors the borrower’s receipt of the pre-closing disclosure.
- Completes an accurate and compliant final closing disclosure to be provided to the borrower within the TRID timing guideline requirements.
- Reviews loan file for accuracy and ensures the accuracy of documents sent to closing, including but not limited to borrower names, rate, term, and loan type, first payment date, and escrow information.
- Reviews underwriting closing conditions to ensure adherence to the loan approval and analyzes and interprets the MAVENT compliance report prior to finalizing closing document package.
- Prepares closing loan document package for delivery to the Settlement Agent or Loan Officer in a timely fashion.
- Completes post-closing review of all closed loan packages for accuracy and completeness.
- Operates computer terminal or personal computer to process loan activity, determine balances, and resolve problems within given authority.
- Types routine letters, reports and forms.
- You are to conduct yourself professionally and as a bank representative while at work and in public.
- Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
- Follows policies and procedures; completes administrative tasks correctly and on time; supports the Bank’s goals and values; benefits the bank through outside activities.
- Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
SECONDARY DUTIES
The position of Mortgage Loan Closer-Residential Lending performs duties specific to the position and other functions as assigned.
SUPERVISORY RESPONSIBILITY
The position of Mortgage Loan Closer-Residential is not responsible for the supervision of any employee(s), however the incumbent is required to provide leadership, training and support to less experienced loan department personnel. The incumbent in this position may perform duties in the absence of the Department Supervisor.
ENVIRONMENT AND PHYSICAL ACTIVITY
The incumbent is in a non-confined office-type setting in which he or she is free to move about at will. The position includes driving a Bank or personal owned vehicle approximately one percent of the time which includes exposure to the outside weather elements and moving mechanical parts. It may include some minor annoyances such as noise, odors, drafts, etc.
The incumbent in the course of performing this position spends time writing, typing, speaking, listening, lifting (up to ten pounds), driving, carrying, seeing (such as close, color and peripheral vision, depth perception and adjusted focus), sitting, pulling, walking, standing, squatting, kneeling and reaching.
The incumbent for this position may operate any or all of the following: telephone, cellular telephone, copy and fax machines, adding machine (calculator), scanner and image systems, encoder, typewriter, personal computer and related printers, or other equipment as directed.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.
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.
MENTAL DEMANDS
The incumbent in this position must be able to accommodate to reading documents or instruments, detailed work, problem solving, customer contact, reasoning, math, language, presentations, verbal and written communication, analytical reasoning, stress, training, multiple concurrent tasks, and constant interruptions.
MINIMUM REQUIREMENTS
These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.
- High school diploma or equivalent is required; minimum of two-years related experience and/or training. Work-related experience should consist of a mortgage loan closing background. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be business or financial industry related.
- Intermediate level of work experience, knowledge and training in preparing and understanding Closing Disclosures and Title Reports.
- Intermediate knowledge of related state and federal banking compliance regulations, and other Bank lending policies.
- Intermediate knowledge of title policies and related loan regulations such as TRID, HMDA and other Bank lending policies on loans to directors.
- Intermediate skills in personal computer operation; word processing, spreadsheet and specialty software programs.
- Intermediate typing skills to meet production needs of the position.
- Intermediate math skills; calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
- Basic supervisory skills to handle appropriate staff in the absence of the Department Supervisor.
- Effective oral, written and interpersonal communication skills with the ability to apply common sense to carry out instructions, interpret documents, understand procedures, write reports and correspondence, and speak clearly to customers and employees.
- Ability to deal with difficult problems involving multiple facets and variables in non-standardized situations.
- Effective organizational and time management skills.
- Ability to work with minimal supervision while performing duties.
- Current KY driver’s license and a vehicle with appropriate insurance coverage if required to drive in the course of performing assigned duties and responsibilities.
Management reserves the right to change this position description at any time according to business needs.
