Residential Mortgage Closing Coordinator

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Full Time Wallingford, CT, US

3 days ago Requisition

Responsible for coordinating all residential mortgage closings with closing attorneys and MLO’s when they are home equity loans and lines of credit. Prepare closing packages in accordance with regulatory compliance requirements, secondary market, and Ascend Bank Loan Policy. Conduct pre-closing and post-closing review and follow up on any missing/incorrect documentation with appropriate personnel.

• Perform an initial review on each file checking for compliance with all regulatory compliance guidelines and loan policy.
• Coordinates closings with attorneys and Bank personnel ensuring secondary market requirements are met.
• Ensure at the time of closing all conditions are satisfied prior to funding. Any outstanding issues should be brought to the underwriter’s attention.
• Verify all documentation is accurate prior to closing. Perform pre-closing audit review.
• Review mortgage package when returned by attorneys’ office to ensure all documents have been completed, signed and proper fees are paid and processed.
• Perform post-closing audit review.
• Verify title policy has proper coverage and is clear.
• Provide backup support for residential processing function. (This function is only for the closing/processor combo role)
• Completes all required compliance training as assigned in a timely manner.
• Reconciliation of TRID Disclosures, CD/LE.
• Coordinates with Title Company/Settlement Agent on preparation and completion of the Closing Disclosure.
• Strong understanding of TRID timeline and regulatory requirements.
• Comprehensive review of Title, CPL, E&O, Appraisal, and other necessary documents.
• Updates LOS and enters any necessary corrections to produce accurate closing documents.
• Reviews approved mortgage loan to determine loan is clear to close, and all conditions that must be met prior to closing, such as purchase of private mortgage insurance, have been satisfied.
• Ability to manage multiple priorities while meeting all closing dates/deadlines.
• Responsible for management of closing calendar and daily CD and Post Closing reports.
• Reviews and responds to monthly Quality Control report, when applicable.
• Calls attorney to request specified documents, such as receipt for payment of outstanding tax bill or insurance bill.
• Calls Mortgage Loan Officer or attorney to arrange time and date for closing.
• Ability to work with the loan-servicing department to ensure the loans are entered/booked correctly onto the core banking system.
• Verifies accuracy and consistency of specifications on documents, such as title abstract and insurance forms.
• Responsible for updating the Closing Procedures Manual as needed.
• Perform other duties as directed.

This position requires compliance with all mortgage regulatory requirements and Ascend Bank’s compliance policies related to these requirements including acceptable background check investigation results. Successful candidates must also meet ongoing regulatory requirements including additional screening and required reporting of certain incidents.

Three to five years of experience in one or a combination of the following: customer service, lending, loan administration, appraisal review and analysis, collections, or sales environment, interpreting automated underwriting output. Three years to five years of similar or related residential mortgage experience with 2+ years of closing experience. Advanced level computer skills; strong analytical, interpersonal, and verbal/written communication skills; experience and understanding of FHA/VA/State Housing Agencies is a plus.

• NMLS certified or willing and able to obtain NMLS certification upon hire.

• Excellent verbal, written, and interpersonal communication skills.

• High attention to detail and accuracy skills.

• Excellent records and file management skills.

• Proficient time management skills.

The ability to use data, information, and communication technologies to find, evaluate, create, and communicate information, requiring both cognitive and technical skills.

• Information, data, and content
• Teaching learning and self-development
• Communication, collaboration, and participation
• Digital identity, safety, and security
• Technical proficiency with all bank products
• Awareness and interest in innovative technology
• Creation, innovation, and research

(1) A two-year college degree or (2) Completion of a specialized course of study at a business or trade school or (3) Completion of a specialized and extensive in-house training or apprenticeship program. Bachelor’s degree preferred.