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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 car

MINIMUM KNOWLEDGE/SKILLS REQUIRED

• Strong 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.

ACCOUNTABILITIES

Primary:
Loan 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.


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