Closer II
About MCU:
At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members.
For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 500,000 individuals.
With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.
Overview:
In accordance with established policies and procedures, the Closer II is responsible for closing real estate lending applications.
Ensures that all closing and other legal documents are prepared in accordance with applicable Federal, State and NCUA rules and regulations in addition to Conventional and MCU guidelines.
Responsibilities:
Specific duties include, but are not limited to, the following:
Review the clear to close loan file and checklist to ensure completeness and compliance, including title report review, payoff information, proposed assignment (if any), CEMA and homeowners/flood insurance information and endorsements.
Reviews approved loans to determine conditions that must be met prior to closing have been satisfied and reviewed by underwriting processing Reviews title work, tax information, and insurance along with lock information to verify supplied information is consistent with loan approval Enters all information into LOS and verifies information in system is correct and accurate.
Review the Loan estimate and Closing Disclosure for accuracy and compliance Clear all deficiencies found during this review including Loan Estimate, Closing Disclosures, and fees paid.
Clearing these prior to issuing the Closing Disclosure to members and their attorney/settlement agent.
Prepares closing documents thru LOS document vendor.
Ensure that any documents must be sent securely to the members, settlement agents, etc.
Ensure that any identified compliance issues have been addressed and corrected as per the guidance provided Communicate closing information to attorney, title company, settlement agent, real estate agents, MLO and members.
Review payment options with member including direct payment from MCU account, ACH, etc.
.
Review Loan file to ensure accurate borrower information and disclosures are in LOS and on closing package documents.
Review property report; title binder, survey, insurance binder, termite certificate, final inspections, underwriting conditions, etc.
to ensure that all necessary documents are complete and satisfactory.
Prepare settlement packages and review for accuracy.
Advise member of cash needed for closing if applicable and method for bringing to closing.
Request commitment extensions, if necessary, from the Processor and advise Underwriting and the MLS of the extension.
Advise member of any fees relating to extension.
Update LOS to reflect changes Send the final CTC loan packages to the closing entity with all amended and updated documents.
Communicate all closing issues and changes information, issues etc.
to all impacted parties in a timely fashion Continuously monitor Pipeline reports and track loan status of all loans at Attorney/Settlement Agent.
Proactively reach out to parties to ensure loans close timely and meet borrowers closing dates for purchase transactions.
Maintains the Closing Calendar, validates the scheduled closings and coordinates, as necessary.
Ensure that all real estate loans are closed within guidelines set forth by investor requirements.
Request updated payoff information for all loans and accounts requires to be paid off Fund loans according to the final closing documents including payoffs, tax liens, cash out to Member etc.
Prepare loan booking and disbursement information to be signed off by Loan Servicing Manager.
Coordinate the wire to the settlement agent.
On Home Equity fund loan disbursements via check in accordance with loan approval requirements.
Disburse loan fees via internal journal entries Reviews and verifies executed closing packages to ensure all documents are signed appropriately and all fees are included with the package.
Partner with the Processor and Underwriter to ensure the accuracy of the data and assist with reporting and corrections as directed by Management.
Establishes and maintains a thorough knowledge of all products and investor requirements to ensure quality closing packages and salability into the market.
Assist with QC and Compliance audits related to closings and answer to findings as requested.
Prepares all required reports.
Assist in Training New Staff and current team members Perform other related duties as assigned within mortgage and home equity.
Requirements:
Bachelor's degree with 5 years' experience or Associate's degree, plus 10 years of responsible experience performing real estate closing functions in a medium to large sized organization or comparable position.
Knowledge of LE,COC and CD preparation Understanding of NY Co-Op and CEMA.
Strong PC skills, with intermediate knowledge of Microsoft Word, Excel and PowerPoint Notary public preferred Strong knowledge of institutional guidelines and the ability to analyze data and make appropriate on the spot decisions.
Knowledge of real estate lending products and ability to analyze related documents Proficient in first and secondary market closing requirements and real estate lending terminology.
Full knowledge and understanding of TRID, RESPA, Regulation Z, CFPB, HMDA, TILA, ECOA, FCRA, Fair Lending, title insurance, title reports, notes, mortgages, and related documentation Thorough knowledge of Fannie Mae, FHA, and all other secondary market guidelines.
Excellent problem solving skills.
Strong written and verbal communication skills.
Ability to effectively prioritize tasks and meet deadlines; Must be flexible and adaptable in a changing environment; Ability to work overtime when required.
Familiar with Doc-Magic a plus Self-motivated, ability to communicate within a team to solve issues and drive results, positive attitude.
Requires attention to detail and organizational skills.
MCU Values and Expected Competencies:
Results:
We will achieve the best outcomes for our members.
Continuously track and measure everything and use it to always improve.
Be proactive, not reactive.
Teamwork:
We will work together to achieve common goals as ONE TEAM.
Agility:
We will remain agile through our decision making, planning and delivery; using curiosity and creativity to see situations from all perspectives.
Ownership:
We will hold ourselves and each other accountable and remain committed to our obligations while caring about the outcomes as much as an owner would.
Integrity:
We will act professionally and positively.
Build trust by doing what we say.
Be upfront and communicate thoroughly.
Belonging:
We will create environments in which any individual or group can be welcomed, respected, supported and valued.
Recommended Skills Adaptability Attention To Detail Auditing Communication Coordinating Data Analysis Estimated Salary: $20 to $28 per hour based on qualifications.
At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members.
For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 500,000 individuals.
With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.
Overview:
In accordance with established policies and procedures, the Closer II is responsible for closing real estate lending applications.
Ensures that all closing and other legal documents are prepared in accordance with applicable Federal, State and NCUA rules and regulations in addition to Conventional and MCU guidelines.
Responsibilities:
Specific duties include, but are not limited to, the following:
Review the clear to close loan file and checklist to ensure completeness and compliance, including title report review, payoff information, proposed assignment (if any), CEMA and homeowners/flood insurance information and endorsements.
Reviews approved loans to determine conditions that must be met prior to closing have been satisfied and reviewed by underwriting processing Reviews title work, tax information, and insurance along with lock information to verify supplied information is consistent with loan approval Enters all information into LOS and verifies information in system is correct and accurate.
Review the Loan estimate and Closing Disclosure for accuracy and compliance Clear all deficiencies found during this review including Loan Estimate, Closing Disclosures, and fees paid.
Clearing these prior to issuing the Closing Disclosure to members and their attorney/settlement agent.
Prepares closing documents thru LOS document vendor.
Ensure that any documents must be sent securely to the members, settlement agents, etc.
Ensure that any identified compliance issues have been addressed and corrected as per the guidance provided Communicate closing information to attorney, title company, settlement agent, real estate agents, MLO and members.
Review payment options with member including direct payment from MCU account, ACH, etc.
.
Review Loan file to ensure accurate borrower information and disclosures are in LOS and on closing package documents.
Review property report; title binder, survey, insurance binder, termite certificate, final inspections, underwriting conditions, etc.
to ensure that all necessary documents are complete and satisfactory.
Prepare settlement packages and review for accuracy.
Advise member of cash needed for closing if applicable and method for bringing to closing.
Request commitment extensions, if necessary, from the Processor and advise Underwriting and the MLS of the extension.
Advise member of any fees relating to extension.
Update LOS to reflect changes Send the final CTC loan packages to the closing entity with all amended and updated documents.
Communicate all closing issues and changes information, issues etc.
to all impacted parties in a timely fashion Continuously monitor Pipeline reports and track loan status of all loans at Attorney/Settlement Agent.
Proactively reach out to parties to ensure loans close timely and meet borrowers closing dates for purchase transactions.
Maintains the Closing Calendar, validates the scheduled closings and coordinates, as necessary.
Ensure that all real estate loans are closed within guidelines set forth by investor requirements.
Request updated payoff information for all loans and accounts requires to be paid off Fund loans according to the final closing documents including payoffs, tax liens, cash out to Member etc.
Prepare loan booking and disbursement information to be signed off by Loan Servicing Manager.
Coordinate the wire to the settlement agent.
On Home Equity fund loan disbursements via check in accordance with loan approval requirements.
Disburse loan fees via internal journal entries Reviews and verifies executed closing packages to ensure all documents are signed appropriately and all fees are included with the package.
Partner with the Processor and Underwriter to ensure the accuracy of the data and assist with reporting and corrections as directed by Management.
Establishes and maintains a thorough knowledge of all products and investor requirements to ensure quality closing packages and salability into the market.
Assist with QC and Compliance audits related to closings and answer to findings as requested.
Prepares all required reports.
Assist in Training New Staff and current team members Perform other related duties as assigned within mortgage and home equity.
Requirements:
Bachelor's degree with 5 years' experience or Associate's degree, plus 10 years of responsible experience performing real estate closing functions in a medium to large sized organization or comparable position.
Knowledge of LE,COC and CD preparation Understanding of NY Co-Op and CEMA.
Strong PC skills, with intermediate knowledge of Microsoft Word, Excel and PowerPoint Notary public preferred Strong knowledge of institutional guidelines and the ability to analyze data and make appropriate on the spot decisions.
Knowledge of real estate lending products and ability to analyze related documents Proficient in first and secondary market closing requirements and real estate lending terminology.
Full knowledge and understanding of TRID, RESPA, Regulation Z, CFPB, HMDA, TILA, ECOA, FCRA, Fair Lending, title insurance, title reports, notes, mortgages, and related documentation Thorough knowledge of Fannie Mae, FHA, and all other secondary market guidelines.
Excellent problem solving skills.
Strong written and verbal communication skills.
Ability to effectively prioritize tasks and meet deadlines; Must be flexible and adaptable in a changing environment; Ability to work overtime when required.
Familiar with Doc-Magic a plus Self-motivated, ability to communicate within a team to solve issues and drive results, positive attitude.
Requires attention to detail and organizational skills.
MCU Values and Expected Competencies:
Results:
We will achieve the best outcomes for our members.
Continuously track and measure everything and use it to always improve.
Be proactive, not reactive.
Teamwork:
We will work together to achieve common goals as ONE TEAM.
Agility:
We will remain agile through our decision making, planning and delivery; using curiosity and creativity to see situations from all perspectives.
Ownership:
We will hold ourselves and each other accountable and remain committed to our obligations while caring about the outcomes as much as an owner would.
Integrity:
We will act professionally and positively.
Build trust by doing what we say.
Be upfront and communicate thoroughly.
Belonging:
We will create environments in which any individual or group can be welcomed, respected, supported and valued.
Recommended Skills Adaptability Attention To Detail Auditing Communication Coordinating Data Analysis Estimated Salary: $20 to $28 per hour based on qualifications.
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