Bank of England / Bank of England Mortgage
Mortgage Loan Closing Assistant
Job Description
Typical business work hours are 8:00 A.M. to 5:00 P.M. Monday through Friday, some over-time may be required. As a Mortgage Loan Closing Assistant, you will be
expected to demonstrate a sense of urgency, willingness to work closely with others, and be part of a team whose primary focus is service to our customers. This is a non-exempt position.
Purpose:
The Mortgage Loan Closing Assistant reviews closing requests and assist Closers in finalizing the mortgage loans that are usually needed to buy real estate and
refinance home loans. Once a mortgage loan is approved and an offer is made and accepted, the Mortgage Loan Closing Assistant coordinates certain aspects of the closing process and ensures that all terms of the sale are met. They coordinate with the Closer all the steps of the loan closing, arriving at detailed and accurate financial numbers for borrowers and readying documents.
Essential Functions & Duties:
- Assist in closing secondary market and portfolio loans.
- Reviews all documents contained in the loan file indicate the same name & address for each borrower. Reviews information contained on the interest rate lock sheet matches the information indicated in the loan operating system.
- Follows underwriting instruction on obtaining and verifying documentation needed at closing to approve loans for funding.
- Reviews closing packages according to product type, lock information and underwriting approval. Reviews loan amount, interest rate, closing date, all fees agree with the Loan Officer’s closing instructions and all regulations related to maximum loan fees, minimum borrower investment and good faith estimates have been met. Enters in all information required in closing documents preparation software. Including but not limited to flood cert information, insurance, tax and mortgage insurance.
Prepares closing instructions with fees according to information provided by loan officer on closing fee sheet. - Checks all applicable documents in file for accuracy and consistency.
- Provides all closing conditions and closing requirements to the closing agent.
- Review and approves Closing Disclosure, informs closing agents of any needed corrections. Reviews that all fees included on the Closing Disclosure prepared by the Closer are correct.
- Review hazard, title commitment and any other applicable insurance for accuracy and sufficient coverage.
- Requests wire from designated funder and prepares funding checklist for reviewer.
- Protect Company’s reputation and image by maintaining Borrower confidence; deliver a high level of customer service and by keeping mortgage loan information confidential
- Responsibility includes but is not limited to: Answering questions, reviewing files, audit files, taking over files in a closer’s or closing assistant’s absence, training, preparing procedures/processes, and assists with post-closing.
- Work with Post Closing and Shipping Departments to make corrections and obtain documentation needed to ensure loan purchase in timely manner.
- Work closely with all mortgage operations staff, closing agents and loan officers to guaranty a smooth closing by answering questions and solving problems
- Honesty and integrity in dealing with others and accountability in standing behind your work; initiative and self-motivation in serving the client, getting the job
completed thoroughly and on time; ability to listen to others and understand their needs; confidence in yourself and enthusiasm regarding your service. - Other duties as assigned by management.
Required Education & Experience:
- High School Diploma or GED equivalent required, some college preferred; B.S. Degree desired.
- Proficient skills with MS Office, Excel and Mortgage Industry Loan Applications/Software, preferably Encompass 360 Software.
- Minimum of six (6) months’ work experience in the mortgage loan or financial industry or experience working in an administrative support role is required.
- Excellent customer service skills; and ability to demonstrate control, flexibility and maintain quality and high productivity when dealing with customers and changing work demand.
- It is required the incumbent demonstrate excellent verbiage with written and vocal communication along with good listening skills. Multiple language skills are a plus.
- Must be highly detail-oriented. Strong math and calculation skills required.
- Must have organizational skills with ability to prioritize and manage multi-tasking while working in a high-volume, fast-paced environment.
- Knowledge of all compliance, loan disclosure, 3-day rule, 7-day rule and TIL.
- Knowledge of all Federal and State regulatory compliance requirements that apply required.
- Must be able to perform essential responsibilities with or without reasonable accommodation.