Provide assistance in the loan origination process from the time the file is approved for work on the Closing Disclosure until purchased by the investor. Verify the loan files meet the TRID disclosure time-frames for Closing Disclosure (CD) signing and closing at the title company in order to avoid last-minute disruptions, delays of the closing date, or compliance errors. Review all closing documentation for accuracy. Daily activities will vary based on volumes and deadlines which require flexibility, the ability to prioritize workload and manage multiple tasks simultaneously. Provide exceptional client service while meeting established Service Level Agreements and upholding First Interstate Bank values.
A fully proficient HL Residential Loan Closer I is capable of closing all of the following loan types and/or property characteristics with very little or no assistance:
- Conventional purchase & refinance
- Government loans
- Repair hold-backs
- Multiple borrowers / co-signers
- Mail-out closing documents
- E-disclosed CDs
ESSENTIAL DUTIES & RESPONSIBILITIES include the following; other duties may be assigned.
- Preview the file to gather an understanding of the transaction and verify that it meets established standards for completion, accuracy and compliance.
- Review investor closing requirements applicable to each closed transaction.
- Coordinate the closing date with the HL Residential Loan Processor, MLO and the title company.
- Review Underwriter conditions to ensure that all underwriter conditions have been satisfied, or will be satisfied at closing.
- Determine whether necessary items are missing and work with the HL Residential Loan Processor and MLO as necessary and appropriate.
- Accurately input loan closing information into the LOS, including updating the costs and fees. Compare updated figures with the Loan Estimate (LE) for TRID compliance. Check the LOS calculation of the tolerance cure, if applicable, and document the file appropriately.
- Prepare an initial CD and reconcile with the title company. Efficiently manage time and workload to meet TRID deadlines for the CD, taking into account mailing time if required.
- Preview all closing documentation for accuracy and deliver the documents and the closing instructions to the title company.
- Work with the closing agent to accurately disburse loan proceeds. Prepare loan funding; complete the Funding sheet, any required General Ledger entries and the wire transfer form for loan proceeds.
- Scan to the electronic file all compliance alerts, notepad entries and the disbursement worksheet.
- Work with the Shipping department to ensure that the file is complete prior to sending it to Secondary Marketing for sale to the Investor.
- As the point of contact, work with Secondary Marketing, the HL Residential Loan Processor, HL Residential Loan Representative, Underwriter and the title company to obtain and scan follow-up documentation to facilitate loan purchase by the Investor.
- If it is determined after closing that a tolerance cure was missed or miscalculated, input the required changes in the LOS and generate a post-consummation CD with the correct tolerance cure and send it to borrower along with a check for the tolerance.
- Update and maintain loan files and perform pipeline management to ensure movement of applications.
- Provide exceptional turn-time on a high volume of mortgage loan transactions.
- Additional loan application duties assigned as coverage needs arise.
To perform this job successfully, an individual must be able to complete each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or EXPERIENCE
High school diploma or General Education Degree (GED) required and one to three years related experience and/or training.
OTHER SKILLS & REQUIREMENTS
Accurate keyboarding and 10-key skills required. Computer experience required with Windows software experience preferred. Ability to set priorities and work in an organized manner. Ability to work under pressure with limited supervision.
This position requires compliance with the S.A.F.E. Mortgage Licensing Act of 2008 and all related regulations. Employment is contingent upon meeting all such requirements, including acceptable background investigation results.
As a condition of employment, any successful job applicant will be required to pass a pre-employment screening against the Limited Denial of Participation (LDP), GSA Excluded Party List System (EPLS) and Freddie Mac Exclusionary List.
Valid driver’s license is required.
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to effectively present information and respond to questions from groups of managers, clients, customers and the general public.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference and volume. Ability to apply concepts of basic algebra and geometry.
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
While performing the duties of this job, the employee is regularly required to sit and talk or hear. The employee frequently is required to stand, walk, use hands to finger, handle or feel, reach with hands and arms, climb or balance, and stoop, kneel, crouch, or crawl. The employee must frequently lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, peripheral vision, and ability to adjust focus.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate.
If you are a current FIB employee, please apply through the Career Worklet in the Empl oyee Portal .