Emporium TPO

Closer-Funder

Position

Closer-Funder

Reports To: VP, Operations Manager

Job Summary: Responsible for closing and funding residential mortgage loans in compliance with TRID regulations. This includes confirming that all underwriting and prior to close conditions have been properly cleared.

Essential Job Functions

  • Provide service that meets the standards defined by the Company
  • Work independently and manage the pipeline to ensure deadlines and production goals are met
  • Ensure all closing conditions as outlined by the underwriter, and documentation needed to comply with secondary market requirements, are obtained and saved in the loan file
  • Obtain the most current homeowner’s insurance policies and ensure that the proper coverage amount is in effect as of the day of closing and that the policies are paid or funds to pay the policies are collected at closing
  • Perform the final verification processes regarding credit and employment and document the findings in the file
  • Obtain and clear other conditions outlined on the loan approval to make sure the loan file, as closed, will meet the investor’s requirements
  • Clear the loan in the LOS system, making sure that changes do not affect the salability of the loan or the underwriting commitment
  • Follow secondary market requirements and take appropriate actions if changes impact the original lending decision
  • Coordinate with the title company/closing agent for the receipt of all closing fees and documents for the preparation of disclosures
  • Prepare the Closing Disclosures within the timeframe outlined by the TRID regulation for residential first mortgages
  • Update the field in the LOS as required to produce a compliant document
  • Challenge or question any inconsistencies as the Company is accountable to regulators and investors for the correct completion of the Closing Disclosures
  • Prepare the closing documents in compliance with regulations, secondary market standards, MI company standards and Company procedures
  • Respond to any borrower inquiry regarding the Closing Disclosures so that there is a full understanding of this document
  • Coordinate with branch personnel for the closing of the loan, and with the borrower(s) regarding the closing appointment
  • Assist branch personnel with any questions they may have regarding loan closings
  • Review closing documents after closing to ensure that they were executed correctly prior to the funding of the loan
  • Fund the loans by performing the applicable wire transfer transactions for residential first mortgage loans
  • Communicate with mortgage brokers and outside companies, as needed, to keep them abreast of the file process and documentation requirements
  • After performing an analysis, considering alternatives, and assessing the risk of action or non-action, takes appropriate steps when problems are encountered
  • Input the HMDA reporting information into the LOS system prior to funding the loan
  • Assist with post-funding functions, as needed
  • Uphold the Company’s compliance with anti-money laundering policies and procedures

Essential Job Skills

  • Working knowledge of Agency, Non-Agency, Jumbo, and Investor guidelines and requirements
  • Prior first mortgage processing, closing or underwriting experience is preferred
  • Knowledge of title insurance and the correlation with loan closing documents
  • Ability to handle multiple tasks and priorities
  • Have a highly organized and analytical mindset
  • Possess excellent verbal and written communication skills
  • Ability to work independently and/or remotely and take action, as needed, to complete the loan files
  • Ability to effectively manage the loan pipeline and meet turnaround time standards
  • Ability to adjust to sudden changes in production numbers as dictated by market conditions
  • Possess proactive initiative and flexibility
  • Ability to adapt to market, regulatory, agency, and investor requirement changes

Qualifications and Experience

  • 3-years of similar or related experience in residential first mortgage closings
  • High School diploma or GED
  • Demonstrated knowledge of Agency, Non-Agency, Jumbo, and Investor guidelines and requirements
  • Prior residential lending experience in either a processing, underwriting, or loan closing capacity
  • Demonstrated knowledge of title insurance policies and requirements and their correlation with loan closing documents and standards

If you do not meet all of the requirements listed in this job description, we still encourage you to apply! We carefully review every application and consider all projects, education, and certifications in addition to professional experience.

Emporium TPO is an equal opportunity employer. All candidates will be equally considered for employment regardless of age, sex, gender identity, sexual orientation, national origin, citizenship, race, religion, veteran status, or disability.

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