Home Equity Loan Closer

Description Note: All full-time positions include the option of $0 out-of-pocket premium cost for Employee Only PPO AND exceptionally low premiums for all other PPO coverage levels. Tower is offering a $1000 Signing/Retaining bonus as of 1/20/2023. HOURS FOR POSITION: Monday - Friday 8:00am-4:30pm. Hiring Range - $23.82/hr - $35.72/hr 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. PRINCIPAL ACCOUNTABLITIES 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 insure 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 obtaine 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 resolve 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 inconformity 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 understand operating procedures and standards of the Real Estate Lending Department.• Ability to communicate effectively in oral and written form.• Ability to communicate work process issues to other members of the Real Estate Lending team.• Ability to communicate verbally, either independently or with minimal supervision.• Ability to communicate with Title Companies and Attorneys.• Ability to read, analyze and accurately interpret and apply policies, procedures, operating manuals and instructions related to loan origination processing and closing.• Ability to verbally convey work process issues to other members of the Real Estate Lending Department.• Ability to adapt to changes within internal, market or regulatory environments.• Ability to work independently, and as a team member, for the resolution of operational problems in the workplace.• Ability to exercise discretion in the decision making process.• Ability to identify emerging problems in the loan origination and closing process, as well as, to help resolve them in an expeditious manner.• Ability to prioritize assigned loans.• Ability to effectively organize loan files and documents. • Ability to exercise prudent judgment in decision-making and protection of member confidential information.• Ability to perform in a multi-task environment with excellent skills in prioritizing tasks.• Ability to work on diverse work assignments and meet established deadlines.• Ability to work under stress and arrive at work routinely and promptly.• Ability to work within stringent time constraints and in a pressure environment.• Ability to resolve problems and operational issues through effective interpersonal skills.• Ability to obtain constructive feedback from other employees and managerial staff of the department.• Ability to work in a team environment and demonstrate the ability to help others. WORKING CONDITIONS:• Ability to sit for extended periods of time and demonstrate sufficient dexterity and vision to skillfully operate a variety of office equipment.• Ability to periodically work overtime when operating conditions dictate.• TFO Security Clearance