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Residential Loan Closer
Join a successful, community-oriented bank with an engaging, employee focused culture
Baltimore, MD / Nottingham, MD / Perry Hall, MD
Job Description
SUMMARY:
The Residential Loan Closer assembles, prepares, and verifies closing documents for the completion of residential mortgage and consumer loan transactions. Coordinates all aspects of the closing process and ensures that all terms of the transaction are met. Prepares loan and property insurance documents included in the closing package and coordinates the closing meeting details with borrowers, real estate, insurance, and closing agents.
ESSENTIAL FUNCTIONS
SECONDARY JOB FUNCTIONS
Rosedale Federal Savings & Loan Association is an Equal Opportunity Employer, including disabled and vets.
The Residential Loan Closer assembles, prepares, and verifies closing documents for the completion of residential mortgage and consumer loan transactions. Coordinates all aspects of the closing process and ensures that all terms of the transaction are met. Prepares loan and property insurance documents included in the closing package and coordinates the closing meeting details with borrowers, real estate, insurance, and closing agents.
ESSENTIAL FUNCTIONS
- Reviews the approved mortgage loan to determine and clear conditions that must be met prior to closing such as the purchase of private mortgage insurance. Contacts concerned parties to request and obtain specified, required, documents such as receipt for payment of outstanding tax bills or proof of property insurance. Obtains and reviews the pre-closing credit report to identify possible changes to the borrower(s) financial condition prior to loan consummation. Coordinates loan closings, prepares the Closing Disclosure (CD), Note, Deed of Trust and other required closing documents. Assembles the closing package for delivery to settlement agents/title companies.
- Keeps track of closing appointments and is available when needed to resolve questions or issues at the closing table. Responsible for authorization or rejection of any changes to the CD at the table; administers changes and re-transmits to the closing agent.
- Manages all changes to TRID documents once the initial Closing Disclosure is issued. Prepares and forwards revised Closing Disclosure with a valid Change of Circumstance.
- Ensures timely and accurate responses to all Quality Control findings. Sends revised Closing Disclosures within the allotted regulatory time frame.
- Support / back up to the Funder as needed.
- Identifies and may suggest or determine ways to improve workflow timing and efficiency. Assists with updating job related procedures, processes, and tracking reports. Works with management to identify process inefficiencies and submits procedural updates for approval, as needed.
- Maintains a current working knowledge of conventional mortgage lending and internal policies and procedures through assigned on-line education courses, seminars, web-ex training and internal policy review.
- Completes all assigned online or in-person Compliance, Human Resources, and Departmental training modules/classes.
SECONDARY JOB FUNCTIONS
- Performs other duties as assigned.
- Have or obtain Notary Licensing.
- Excellent listening, verbal, and written communication skills.
- Strong interpersonal skills to work with a wide variety of internal and external customers.
- Strong skills in organizing and planning, prioritizing, and retaining information.
- Strong computer skills and proficiency with loan industry software in addition to working knowledge of personal computers, Microsoft Word, and Excel.
- Detail and number-oriented.
- Ability to work independently, under pressure and demonstrate adaptability.
- Ability to maintain confidentiality of customer information.
- Demonstrated dependability.
- Ability to handle changing priorities and flexibility to accommodate customer needs.
- High school diploma or equivalent.
- Minimum three (3) years related lending or banking experience and product knowledge to accomplish primary duties.
- Knowledge of Encompass LOS preferred.
- Must be able to remain in a stationary position for long periods of time (50%-75% of the time).
- The person in this position needs to occasionally move about inside the office to access file cabinets, office machinery, etc.
- Constantly operates a computer and other office productivity machinery, such as a calculator, copy machine, and computer printer.
- Availability to work overtime as needed.
Rosedale Federal Savings & Loan Association is an Equal Opportunity Employer, including disabled and vets.
Job Summary
Employment Term and Type
Regular, Full Time
Hours per Week
37.5
Salary and Benefits
Eligible to participate in all benefits offered to Rosedale Federal employees to include Medical, Dental, Vision, and 401(k) programs.
Required Education
High School or Equivalent
Required Experience
3+ years
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