We are seeking 2  ClosersII for either Newton or Wakefield! Job Description

      
Job Title:  Closer II Name:                                                                      

Supervisor Title/Name:  Closing Team Lead  Date:     

Dept:  Closing   Location:      
  
FLSA: Non-exempt

I. Statement:
Prepares and submits loan closing packages, ensuring compliance with appropriate regulations, insurance, and guarantee functions as applicable. Obtains and reviews all documentation on loans as required within specific delivery deadlines and prepares funds for delivery to settlement agent.

II.  Major Functions:
The major functions of the job are to input, audit, and draw documents in order to coordinate in the efficient and accurate completion of loan packages in a timely manner, and complete the input, audit, and funding of the loan to meet requirements of closing, rate lock, purchase contract, rescission, etc. while ensuring that we have a saleable, insurable and serviceable loan for our investors.

III.  Duties and Responsibilities:  Essential Job Functions (EJF) are noted with an “X” in the column labeled EJF.
EJF DUTIES/TASKS (Be Specific) FREQUENCY % of Time
X Doc Review
• Pre-audit for accuracy of loan information
Use all pertinent documentation in file to ensure consistency (i.e., approval, lock, appraisal, title, etc.)
• Identify correct code to use for specific product
• Input all data into current system
• Verify all fees and credits are accurate based on doc request and compliance with disclosures Daily 20
X Input all data in Alternative Doc Draw systems as required by program Doc Audit
• Perform manual audit
• Make all necessary corrections in current systems or Alternative Doc Draw system
• Print loan docs
• Once final review is complete – email document package link along with any additional required items to be signed at closing with instructions to the closing agent.  If sending hardcopy, create shipping receipts & package documents to be sent out via overnight shipping to Escrow, Closing Agent or Attorney Daily 20
X Final Audit
• Final audit and review of loan docs prior to sending the loan docs to Escrow, Closing Agent or Attorney Daily 5

   EJF DUTIES/TASKS (Be Specific) FREQUENCY % of Time
X Funding Review
• Review loan documents and complete data input into the funding system in order to balance the wire and send wire to closing agent
• Verify loan documents are signed properly and free of modifications, ensuring that we have received all pertinent documents required in order to authorize disbursement.
• Conduct audit of HUD1 to verify all information, including charges, fees, disbursements, impounds, etc. are accurate and charged in accordance with the Truth in Lending and Itemization of Amount Financed.  This audit also includes reviewing for any red flags that could potentially indicate fraudulent activity, resulting in loss to the company.
• Ensure that wire is balanced, including any impounds and fees being netted from the wire and that wire instructions are accurate and have been approved with closing protection
• Issue funding disbursement authorization to the closing agent after audit completed
• Confirm closing and disbursement with the closing agent to verify we have a valid loan. Daily 35
X Communicate with Processing Team Leads, Processors, and Loan Officers to overcome obstacles in order to ensure accurate doc draw of loan documents.
• Clear discrepancies within the loan file Daily 5
X Directly responsible for ensuring that all prior to funding and at closing conditions have been met in accordance with Investor guidelines.  Any prior to doc conditions moved to prior to funding must still be addressed and the closer must coordinate sign off by the underwriter Daily 5
X Any other duties necessary as assigned As Needed 5
X Submitting a completed file to Funding that is accurate and free of data input errors that would cause delays in funding and/or sale to investors or cause insuring delays. Daily 5
             Total = 100%
b.  Metrics:
• Funded units/FTE – 6 funding reviews per day
• 70% of loans settled within standard
• 70% of loans insured within standard
• 90% of loans with no closing deficiencies
• 80% of docs for department sent out within 1 day of receipt
         
IV. a. Physical and sensory demands:
EJF ACTIVITY PHYSICAL/MENTAL REQUIREMENTS FREQ %
of TIME
X Communication Contact manager & employees to review priorities, goals & provide information Daily 50%
X Hand/eye coordination Operate office equipment Daily 85%
X Speaking, writing Communicating with co-workers, customers & outside contacts Daily 50%
X Bending, lifting Files, boxes of up to 20 lbs in weight. Daily 5%

b.  Working environment:
DESCRIPTION OF WORK ENVIRONMENT OR HAZARD FREQ % of Time
Air conditioned/heated office with no windows Daily 100%

Travel: Indicate amount of time spent traveling and typical means of transportation used (driving, flying, etc.):
 0%  

V. Knowledge, Skills, and Ability:  These are considered to be Essential Job Functions (EJF).
• Knowledge of mortgage lending process and products
• Customer service skills
• Creative problem-solving and conflict resolution skills
• PC Skills (MS Office)
• Analytical and mathematical skills and applications
• Strong communication skills (verbal, written, listening)
• Attention to detail; multi-tasking skills; excellent time-management skills
• Negotiation skills
• Ability to work independently with minimal supervision

IV. Education, Training and Experience Required: 
a. Special courses/licenses needed:
None.
b. Formal education required.  
College degree preferred
c. Prior experience needed:
3-8 years in mortgage industry
3-5 years document drawing and closing experience,
d. How many weeks, months, or years of experience is required to do the job satisfactorily (both on-the-job and prior experience):
Prior experience, see item c above
On the job 1-3 months

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