Equity Loan Closer Job Laurel Maryland USA,Finance & Banking

Position: Home Equity Loan Closer
Location: Laurel

Summary of Position

The Home Equity Loan Closer (HELCL) is responsible for all duties pertaining to the timely and accurate closing of home equity loans by coordinating closing with Title Companies and Attorneys, preparation of loan documents, performing quality control reviews on home equity software system(s) data and signed documents, funding and other tasks associated with closing loans on behalf of the credit union.

Position

Details

Hours:

Monday - Friday 8:00am-4:30pm.
Hiring Range: $25.76/hr – $32.20/hr.

Principal Accountabilities and Functions

Communicates and resolves, with the Home Equity Loan Consultant or Senior Underwriter, any outstanding loan application conditions that have not been cleared to allow a loan to go to settlement.

Effectively manages assigned loans to ensure accurate and timely closing.

Verifies that the data on the home equity software system(s) is consistent with the loan file, verifies accuracy of loan documents, disburses funds at or after settlement and completes the origination function by loading all loan terms on the home equity software system(s). Orders HELOC checks when appropriate.

Maintains a thorough knowledge of the credit union’s home equity mortgage products and procedures and regulatory guidelines in order to facilitate effective, compliant closing of loans.

Works with co-workers as a team member in analyzing and solving situations that may arise in the closing and funding process.

Analyzes loan to ensure that all loan underwriting conditions are resolved prior to settlement. In the event of outstanding underwriting conditions interpret and determine converting to closing conditions or resolve by communicating with appropriate Real Estate lending personnel.

Reviews loan file and home equity software system(s) to determine and/or ensure that appropriate closing conditions are established.

Schedules, logs into home equity software system(s) and maintain final closing and funding dates.

Reviews loan file and mortgage software system(s) to insure loan terms and fees are accurate.

Based on specific loan transaction determine appropriate, prepare and ensure accuracy of closing documents and send closing documents to members for notary closing. Ensure that a valid lien is obtained.

Verifies receipt of closing file from members.

Coordinates the transfer of loan files, forms and information to the Loan Services Department, which will service the loan for the time it is either on the books or serviced on behalf of owners of Tower loans sold in the secondary market.

Responds to and/or resolves post-closing inquiries from Loan Services Department.

Works on resolving problems with the Real Estate Lending Department team to enable loans to get to settlement in a timely and effective manner.

Maintains detailed knowledge of the Real Estate Lending Department’s procedures and the credit union’s loan policy to ensure that all loans are settled in accordance to pre-established underwriting and documentation standards.

Retains up-to-date knowledge of regulatory guidelines to ensure that all loans are settled in compliance and retains up-to-date product knowledge of all home equity products offered by the Credit Union.

Performs other duties and assignments as requested by the Vice President of the Real Estate Lending Department.

Required Qualifications

High school diploma or equivalent.
Desire three years’ experience in the closing function, with a working knowledge of first mortgage products.
Successful completion of courses or seminars related to real estate lending processes, underwriting and escrow. Successful completion of up to five Mortgage Bankers Association classes designated by the V.P. Real Estate Lending.

Competencies

Ability to become proficient in the front‑end and back‑end operations and administration of the lending delivery and accounting systems.
Ability to effectively work with mathematical concepts with a high degree of accuracy.
Ability to operate a personal computer, to include: word processing, Excel, graphics, etc.
Ability to interpret, understand and apply Investor and regulatory requirements.
Ability to grasp and understand legal documents.
Ability to grasp and…