RE Closer/Funder

The Closer/Funder will fulfill all duties regarding the closing and funding of a loan. Responsible for providing clerical support for all mortgage loan closing activities. Takes loans that are cleared to close through the closing process, including but not limited to: ordering insurance policies, verifying loan information, sending the Initial Closing Disclosure, preparing, and sending closing documents to the borrower and to the settlement agent. Prepares the file for funding. After the loan has been signed will follow up with the title company to receive the closing packet, delivered either electronically or physically. Reviews signed legal closing documents, ensures conditions set by Mortgage Underwriters have been met, and wires funds to escrow companies. Assists or refers members as necessary.

BASIC DUTIES AND RESPONSIBILITIES

1. Provides effective clerical support for mortgage loan closing activities in addition to assuming responsibility for accuracy and prompt processing of signed loan packages. Performs both the closing and funding responsibilities for each specific loan.

a. Receives loans that have been cleared to close by the underwriter.

b. Is responsible for balancing all credits and liabilities with fees collected, viz. credit report fees, appraisal fees, pest inspection fees, etc.

c. Prepares and proofs closing documents.

d. Provides closing documents to escrow officer.

e. Reviews and approves Settlement Statement and assists in resolving issues that arise during the closing.

f. Reviews executed closing documents for completeness and accuracy. Signs off all prior to fund conditions.

g. Receives signed loan packages and ensures all prior-to-fund conditions have been met.

h. Reviews all closing documents for accuracy prior to wiring.

i. Responsible to order daily wire requests from the accounting department and reconcile any wiring errors with title companies.

j. Registers all transactions through the MERS system.

k. Communicates status of loans to loan officer, processor, and escrow company.

l. Assists with any funding/purchasing issues.

m. Assists in solving any post-closing issues.

n. Stays informed of procedural and policy changes and communicates those changes to department employees.

o. Assists in updating the closing and funding instructions in the respective manuals.

p. Assists manager in varied tasks or projects.

2. Maintains professional business relationships with members, mortgage professionals and UCCU personnel.

a. Maintains and conveys the Credit Union's professional reputation.

b. Attends meetings as required.

d.Maintains a professional, clean, and well-kept appearance. Approaches job responsibilities and relationships with a positive attitude. Ensures that work area is clean, secure, and well maintained.

e. Covers absent RE Closer/Funder personnel as required.

f. Works a regular and predictable schedule.

PERFORMANCE MEASUREMENTS

1. Reports, records, and verifies all related documents are accurate, current, and submitted in a timely manner.

2. Files are accurate, up-to-date, and processed in a timely manner.

3. Good business relations exist with members. Problems and questions are courteously and promptly resolved or referred. Errors and discrepancies are researched and promptly resolved. Accounts are correctly reconciled.

4. Good working relationships and coordination exist with area personnel and with management. Assistance and support are provided as needed. Management is properly informed.

5. Loan processing functions are completed in accordance with established policies and procedures.

6. Funding activities are completed in accordance with established Credit Union policies, procedures, and standards.

7. The Credit Union's professional reputation is maintained and conveyed.

QUALIFICATIONS

EDUCATION/CERTIFICATION: High school graduate or equivalent.

REQUIRED KNOWLEDGE: Understanding of mortgage loan processing functions, including government, construction, and Conventional lending.

Knowledge of mortgage related requirements, procedures, and underwriting criteria.

EXPERIENCE REQUIRED: One to two years of related office experience.

SKILLS/ABILITIES: Excellent, verbal, written and public relations skills.

Efficient use of computer applications.

Able to learn quickly and work under pressure.

Able to analyze and process financial information.

Well organized.

PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

FINGER DEXTERITY:Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.

TALKING: Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.

AVERAGE HEARING: Able to hear average or normal conversations and receive ordinary information.

REPETITIVE MOTION: Movements frequently and regularly required using the wrists, hands, and/or fingers.

AVERAGE VISUAL ABILITIES: Average, ordinary visual acuity necessary to prepare or inspect documents or products, or operate machinery.

PHYSICAL STRENGTH: Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force occasionally. (Almost all office jobs.)

WORKING CONDITIONS

NONE: No hazardous or significantly unpleasant conditions (such as in a typical office).

MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

REASONING ABILITY: Ability to apply logical or scientific thinking to define problems, collect data, establish facts, and draw conclusions. Able to interpret a variety of technical instructions and can deal with multiple variables.

MATHEMATICS ABILITY: Ability to compute various mortgage related formulas; determine ratios, proportions, and percentages. Able to perform very simple algebra.

LANGUAGE ABILITY: Ability to read a variety of books, magazines, instruction manuals, atlases, and encyclopedias. Ability to prepare memos, reports, and essays using proper punctuation, spelling, and grammar. Ability to communicate distinctly with appropriate pauses and emphasis, correct pronunciation (or sign equivalent), and variation in word order, using present, perfect, and future tenses.

INTENT AND FUNCTION OF JOB DESCRIPTIONS

Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions. Well constructed job descriptions are an integral part of any effective compensation system.

All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all-inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.

In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.

Job descriptions are not intended as and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.