Mortgage Loan Closer - Liberty First Credit Union

THIS POSITION IS 100% IN OFFICE IN LINCOLN, NEBRASKA, AND IS NOT A REMOTE POSITION

General Summary

Coordinate the overall mortgage loan closing while helping assistant in the final processing prior to closing by ordering and processing mortgage loan documentation needed for the final approval and closing.  Serve our Membership by providing and promoting prudent borrowing and saving activities and be sensitive to all the member’s financial needs by creating an awareness of all credit union services to new and current members.

Essential Functions

1.   Order/assist/obtain loan information/documentation required for mortgage loan closings

2.   Review appraisal, title, credit application and all associated documents in file to make sure they match the underwritten loan and guidelines prior to closing to ensure all conditions are satisfied prior to closing. 

3.   Ensure all underwriting requirements are met along with making sure a clear title insurance policy has been obtained with post-closing verification. 

4.  Maintain outstanding service skills for on-going agencies/vendors, member and co-worker contact for new, additional, or outstanding documentation required for pre, post, and closing loan needs. 

5.  Accurately prepare closing packages for Conventional, FHA, VA, NIFA and home equity loans and HELOC’s.

6.  Prepare accurate Closing Disclosure, ensuring all vendors are paid and LFCU collects all fees, points, etc....

7.  Provide loan commitments and adverse action notices within 30 days of applications

8.  Responsible for completing and finalizing government HMDA monitoring information (filing, tracking, and reporting)

9.  Package loan files for sale to secondary market according to their guidelines.

10. Acquire and maintain knowledge to serve as backup in loan servicing and funding.

11. Prepare / Monitor weekly reports to ensure pends and suspense items are cleared within the investor time frame.

12. Balance funds from investors once the loan has been purchased to ensure accuracy.

13. Develop knowledge in Reverse Mortgages to submit and track loan closing documentation for third parties.

14. Maintain member’s confidentiality.

15. Maintain an organized workspace/efficient tracking guidelines for ordering mortgage loan documents to help achieve required timely closing goals.  

16. Develop a working knowledge of the data processing system and department software.    

NOTE: The list of essential functions is not exhaustive. It may be supplemented as necessary from time to time.

Additional Functions

1.  Actively support our “sales and service “culture and demonstrate these skills by communicating to members the benefits and features of all our products and services.

2.  Develop a working knowledge of competitors’ products and services with a continued interest in improving quality services and products for the credit union.     

3.  Complete in-house training based on required classes set up for this position.

4.   Assist in any area as directed by management.

Job Specifications

1. Professional, well-developed interpersonal skills necessary for servicing out credit union members in person or by phone use and projecting a positive attitude/image as a representative in relationship to all credit union activities.

2. Work requires knowledge of mortgage lending regulations tied into FHA, VA and Conventional loans with 2 + years of loan processing or closing experience and knowledge in underwriting.

3. Requires a high degree of accuracy with intermediate mathematical skills required (calculations and concepts involving decimals, percentages, fractions, etc.)

4. Judgment is required in day-to-day situations and problems within established guidelines. Involves generally routine or standardized work but involves choice of action within limits defined by standard practice and instructions. Decisions are pre-defined based on guidelines or standards.

Disclaimer

 The above information in this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.