Loan Closer
Company: Liberty Bank
Location: Middletown
Posted on: January 22, 2023
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Job Description:
Loan Closer Middletown, CT 06457, USA Req #1163 Thursday,
January 12, 2023 Join the Hartford Courant/Fox 61 Top Workplace for
9 Years in a Row - #1 in 2017 & 2019! OVERALL OBJECTIVE Reporting
to the Consumer Loan Operations Manager, the incumbent is
responsible for managing all functions involved in closing and
funding residential conventional, government and broker loans, home
equity loans & lines. Ensures compliance with all regulations, as
well as, ensures efficient, accurate and professional levels of
customer service are provided to our customers and other
professional agencies and contacts. Also, responsible for
identifying system, documentation and calculation inconsistencies
with all loans. ESSENTIAL FUNCTIONS Job Responsibilities for first
mortgage closings entail: - The review of underwritten files to
ensure the compliance of all HMDA criteria and the satisfactory
receipt of all underwriting conditions prior to closing. -
Maintains contact with attorneys regarding status of loan closings.
- Interact with Liberty Bank's closing attorney for Borrower in
order to obtain all accurate information required for the Closing
Disclosure at least 10 days before closing and to confirm the
closing date - Generation, approval & delivery of the new Closing
Disclosure 3 to 6 days prior to the Closing as required by CFPB
Government Regulation, (KBYO.) - Completes verifications of credit,
employment, insurance, OFAC and Attorney status to ensure closing
can move forward - Validates all fees & figures and resolves any
resulting issues - Prepares the required closing documents and
reviews file documentation to ensure its compliance with Bank,
investor, and regulatory guidelines for all first mortgages offered
by the Bank. - Follows up on outstanding closing documents from
closing attorneys. This includes the research and resolution of
auditing issues within specified timeframes to avoid repurchase or
monetary penalties by insuring files comply with internal and
external procedures/regulations. - Monitor the closing preparation
process to determine if any changes warrant generation of a revised
Closing Disclosure. If so, delivery the Closing Disclosure within
the regulated timeframe. - Ensures the accuracy of corresponding
documents for servicing-released products such as FHA, VA, CHFA,
CHFA DAP, and FHLMC mortgages. - Initiates the process to Fund all
closed loans, balances all closing transactions and performs a
post-closing audit to ensure set-up accuracy. - Maintains effective
working relationships with internal and external contacts including
customers, realtors, builders, attorneys, appraisers, investors,
and other Bank employees. - Makes recommendations regarding the
workflow process. - Possesses sign-off authority with regard to
specific commitment conditions.Job responsibilities for home equity
loan/line closings: - Reviews files to ensure the compliance of all
HMDA criteria if applicable. - Completes verifications of credit,
employment, insurance, OFAC and Attorney status to ensure closing
can move forward - Validates all fees & figures and resolves any
resulting issues - Prepares loan closing documents within
established timeframes. - The same responsibilities for the Closing
Disclosure listed above for 1st Mortgages also apply here for -
Keeps abreast of changes in the Insight system as it relates loan
setups. - Ensures closed loans have all required documents,
disclosures and proper signatures and dates to ensure compliance
with state and federal regulations. - Scheduling of closings with
all Liberty Bank Branches - Post-Closing Audit of all executed loan
closing documents and follow-up on all Post Closing issues -
Initiates the process to Fund all closed loans, balances all
closing transactions and performs a post-closing audit to ensure
set-up accuracy.PHYSICAL DEMANDS AND EQUIPMENT OPERATION- General
office equipment- Keyboard Dexterity- Ability to travel by
carMINIMUM KNOWLEDGE/SKILLS REQUIREDStrong communication and
analytical skills at a level normally acquired through the
completion of high school or higher. Two years working knowledge of
conventional, government and closing guidelines including FNMA &
FHLMC fixed rate and adjustable rate programs, FHA, VA, CHFA, CHFA
DAP, CRA, Construction loans and Home Equity loans and Lines. Must
have a working knowledge of closing documents such as HUD-1
Settlement Statements, Aggregate Escrow Disclosures,
Truth-In-Lending, Mortgages, Notes and applicable Riders. Knowledge
of indirect programs offered through brokers. General knowledge of
origination processing systems, beginner Word and Excel PC skills.
ACCOUNTABILITIESLoan Documentation: Accurately reviews loan
packages to insure underwriting/closing conditions have been met
prior to closing. Accurately prepares legal documents and completes
loan packages required for closing. Funding : Accurately calculates
loan proceeds and payments. Responsible for disbursing funds under
various program parameters to dealer and third party
brokers.Customer Service: Provides prompt and accurate information
to all internal and external customers including brokers and
attorneys to facilitate the closing process.EEO: Acts affirmatively
in all activities under his/her control in conformance with the
Bank's Affirmative Action, Equal Employment Opportunity, and Fair
Lending Programs to achieve the Bank's goals and
objectives.Compliance: Adheres to applicable federal and state
regulations bank policies and procedures including OFAC, BSA,
Patriot Act and Privacy Act. Completes all required training
(on-line and in-person) by set due dates. In order to be considered
an applicant, you must meet the minimum requirements of the
position.All qualified applicants will receive consideration for
employment without regard to race, color, religion, sex, sexual
orientation, gender identity, or national origin, disability,
protected veteran status.Other details+ Job Family Lending + Job
Function Staff + Pay Type Hourly Apply Now+ Middletown, CT 06457,
USA
Keywords: Liberty Bank, Middletown , Loan Closer, Other , Middletown, Connecticut
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