Mortgage Post Closer II

Job Description:

Work schedule: In office 2 days per week/3 home

Primary Function

Performs duties in support of the mortgage loan closing processing by reviewing loan documents for compliance, completeness and accuracy.  Obtains missing information, prepares files for delivery to investors in compliance with secondary marketing requirements and provides support to both internal and external partners to ensure on time delivery/purchase of loans as well as a smooth transition to servicing.  Works closely with settlement agents to obtain all required trailing documents and maintains a working knowledge of all investor post closing procedures that VACU is currently partnered with. 

Demonstrates a deep working knowledge of the post closing function as well as foundational understanding secondary marketing.  Including, but not limited to experience post closing/delivering agency loans (mandatory and best efforts), FHA, VA, USDA and Virginia Housing and has extensive experience working with third party investors and is proficient in their delivery/purchase procedures.  

JOB DUTIES AND RESPONSIBILITIES:

• Receive files from settlement attorney and immediately reviews all documents, ensuring that they are properly signed and notarized and work to obtain missing information and/or correct inaccuracies as appropriate
• Responsible for ensuring all post closing requirements are met as well as  reviewing, assembling and delivering closed mortgage loan documentation to outside investors within the lock in expiration date provided from secondary marketing. 
• Works to clear any outstanding investor/post closing conditions to ensure the loan is purchased accurately and within investor guidelines.
• Monitors and activates Private Mortgage Insurance on required loans.
• Tracks receipt of all mortgage related post closing data and ensures the Mortgage Loan Origination System is updated appropriately.
• Tracks, follows up on, receives and logs all trailing documents (Final Title Policy, Recorded Deed of Trust, Recorded Assignments, Recorded Power of Attorney, etc.) while ensuring that the mortgage loan origination system is updated appropriately.
• Examines all trailing documents for accuracy and works closely with settlement agents to rectify any issues identified.
• Submits all trailing documents to the purchasing investor in a timely manner and partners with settlement agents, mortgage staff and investor to rectify any outstanding conditions.
• Ensures final docs are appropriately stored in both digital and physical repositories including, but not limited to, document custodian.

SECONDARY MARKETING

• Develop/maintain a strong partnership with secondary marketing that ensures fluid communication
• Actively support mandatory selling requirements/timeframes to help maintain hedge positions
• Prioritize loan files to ensure all mandatory deliveries time frames are met to avoid pair off fees where applicable
• Actively communicate any issues with specific loans or third party investors so as to ensure a swift remediation and smooth loan delivery process

MORTGAGE SERVICING

• Ensures timely delivery of loan documents to mortgage sub servicer and partners with mortgage servicing liaison to deliver any required trailing documents.
• Ensures all Federal Home Loan Bank grant loans are accurately boarded to the mortgage sub-servicer

MERS

• Input sellable mortgage information into MERS System while keeping track of all reports related to MERS loans on a daily basis.
• Conducts monthly and annual audit of MERS data.

REPORTS

• Support the mortgage qc processing with timely responses to monthly internal and external audit review of closed loans and work with management when needed on process improvements to remediate qc findings
• Reviews daily reports in mortgage loan origination system to determine file priority, follow up on needed items, ensure timely processing
• Review investor reports monthly and remediate any outstanding requests for requested information and documentation.
• Actively works trailing documents report by contacting settlement agents and requesting required information.  Work with management when necessary to remedy delinquent requests.
• Provides timely updates to management where necessary on any roadblocks/issues

OTHER

• Is an active member of the Closing/Post Closing team that provides positive interactions and well thought out contributions to the team.
• Maintains positive partnerships with other departments and team members to ensure good communication a positive member experience and  department environment.
• Leads/mentors staff and demonstrates a high degree of professionalism.
• Comply with all published enterprise and department level policies and procedures
• Complete all required, ongoing enterprise and department level training.
• Assist with training of new hires and contract employees.
• Consistently demonstrates prompt attendance

Job Qualifications:

Minimum Education and Experience

High School graduate. 

Knowledge, Skills and Abilities

Prior experience in real estate lending is required.  Demonstrated experience with Conventional, FHA, VA, USDA and Virginia Housing post closing practices preferred.  3-5 years experience in the mortgage/real estate industry.  Working knowledge of secondary marketing practices is helpful.  Proficient with computers is required (i.e. Excel, Word).  Experience with Encompass LOS is preferred.

Desirable Traits:

Strong oral and written communication skills combined with the ability to make sound decisions.  Strong problem solving and organizational skills.  Must be a team player.  Requires good attention to detail. Ability to be a self starter and leader is strongly encouraged.

PHYSICAL REQUIREMENTS:

This job requires the ability to sit for long periods of time.

This job requires infrequent lifting or carrying of objects up to 10 pounds.

Salary range: $50,000 - $56,000