Loan Closer

Mauch Chunk Trust Company Job Description

Job Title: Loan Closer - Consumer Loans

Revision Date: July 2024

Reports to: Loan Operations Manager

GENERAL RESPONSIBILITIES:

Schedules loan closings, compiles and prepares closing documents: Reviews approved loans to ensure conditions are met. Works with title companies and clients to get loans to closing and funded.

ESSENTIAL JOB FUNCTIONS:

1. Prepares all required loan documents, including, but not limited to Promissory Note, Mortgage, TRID Disclosures, Closing Disclosures, lien paperwork; prepares appropriate disclosures and any other documents necessary for closing.

2. Coordinates with the underwriter to ensure that all underwriting requirements are met.

3. Ensures compliance requirements are met as defined in company policies and procedures and state/federal laws and regulations.

4. Verifies accuracy and consistency of documents, such as title abstract and insurance forms.

5. Reviews closing instructions; determines charges to be collected at closing such as appraisal/inspection fees, credit report charges, recording and title insurance costs, etc.

6. Issues closing instructions; assists with post-closing communication.

7. Coordinates with the title company to issue the loan proceeds and fund the loan.

8. Verifies employment of clients.

9. Communicates with bankers and clients to set up closing and funding for home equity lines, loans, auto loans, personal loans, and mortgage refinances.

10. Calls borrower, broker, and other specified individuals to arrange time and date for closing of mortgages.

11. Maintains production tracking information within the designated software system for pipeline management.

12. Maintains working knowledge of Mortgagebot LOS and LaserPro for loan documentation.

13. Prepare and notarize all satisfaction pieces and paid off loan files.

14. Other duties as assigned.

NON-ESSENTIAL JOB FUNCTIONS:

1. Back up to other loan department positions including but not limited to loan processing.

PHYSICAL/MENTAL REQUIREMENTS:

· Ability to perform duties independently with some direction

· Operates various office equipment

· Digital dexterity and eye/hand coordination in the operation of office equipment

· Ability to manipulate a computer 85% of time during regular business hours

· Light lifting and carrying of supplies, files, etc.

· Ability to speak to and to hear customers and/or other employees on the telephone and in person

· Organized and Detail Oriented

· Decision making and problem-solving skills somewhat varied in scope and complexity, requiring referencing and interpreting policies and procedures

· Perform moderate mathematical calculations

· Maintain a high working knowledge of bank loan policy and regulations pertaining all loans

EDUCATION, TRAINING AND EXPERIENCE:

· High school diploma or equivalent.

· 3-5 years relevant experience including in-depth knowledge of underwriting criteria, closing procedures and industry standards

· Thorough knowledge of mortgage lending guidelines and regulations

· Strong interpersonal skills and oral and written communication skills

· Strong PC and software application skills in Windows environment, MortgageBot, and LaserPro; good 10-key skills

· Adequate internet access at home to support laptop functionality when needed.