Real Estate Closing Specialist

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Job description

Job Description

Responsibilities:

• Handles all 1st and 2nd Trust Deeds from Approved to Post Closing
• Funds all First Trust Deed and Fixed Second Trust Deed loans within the established times as outlines in the Real Estate Funder Incentive Program Guidelines
• Act as a backup for on-boarding of all new 1st and 2nd Trust Deed loans
• Knowledge of RESPA and TRID guidelines
• Knowledge of the credit union's real estate loan products.
• Establishes and maintains open communication and working relationships with all team members in real estate department, along with Consumer Lending and Retail Network
• Reviews final approval sheet for specific instructions to appear on lender's instructions
• Reviews accuracy of interest rate, points and fees associated with approved loans.
• Contacts appropriate parties to obtain "Prior-to-Docs" and or "Prior-to-Funding" conditions.
• Reviews and inputs required information to prepare loan documents.
• Performs calculations to determine funds required for impound accounts.
• Ability to read preliminary title reports for approved items to remain open on final title policy and required endorsements, if applicable.
• Prepares escrow instructions and loan documents.
• Coordinates with escrow and title companies in order to maintain timely loan funding schedule.
• Prepare and or provide payoff statements for USE loans.
• Prepares funding worksheet and outgoing wire forms. Coordinates with the Finance department with anticipated loan funding dollar amounts and meets wire cutoffs. Assures wire and general ledger debits and credits balance to total loan disbursement amounts.
• Performs Teller functions to fund and disburse loan, transfers funds, deposits fees, and payoff loans on Keystone.
• Utilizes monthly funded loans report for follow-up on post-closing documents with escrow (recorded deed of trust and final title policy, etc.) for shipment of loan files to General Services.
• Activate mortgage insurance certifications on all loans requiring mortgage insurance
• Coordinates with Loan Servicing department to handoff funded loan files for audit.
• Reviews and compares final settlement statement with closing disclosure for accuracy of fees associated with loan transaction. Ensures amounts are with tolerance levels set forth by RESPA and TRID regulations
• Monitor and delivers sold loans to investors in accordance with the commitment expiration dates *
• Maintains required knowledge of the credit union's policies, investor guidelines and federal and state laws and regulations to ensure loans are in adherence to policy.

Qualifications:

• Bachelor degree (BA.) from a four year college; or equivalent related to job experience
• 5 years related experience with conventional mortgages with a direct lender, mortgage insurance company, finance company, or mortgage broker in a full documentation.
• Recent experience may be acceptable in place of delivery of loans to secondary market experience.
• Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public
• Bilingual in Spanish a plus.
• Ability to calculate figures and amounts such as discounts, interest, commissions proportions, percentages, area, circumference, and volume.
• Experience with Windows based loan origination system (Point, Encompass, and D+ H), and Loan Document Preparation Systems (DocMagic). Experience with Microsoft office applications (excel and word), as well as the ability to learn new applications quickly; requires general knowledge of network and database use.
• Completion of registration with the NMLS (National Mortgage Licensing Registry) including a satisfactory result from a Federal - Level background check is required.