Spec, Mortgage Closing
BCU Vernon Hills, IL
BCU Vernon Hills, IL
2 weeks ago
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Sarah Savio, PHR
HR & Talent Acquisition Lead at BCU | Full Cycle Recruiting | Human Resources | Relationship Building | Diversity & Inclusion
SALARY
This position has a base salary range of $44,800.00 - $67,200.00 USD Annual. This range represents the expected base salary range for this position. The actual salary may vary based upon several factors including, but not limited to, relevant skills/experience and time in the role.
Summary
This role is responsible for residential mortgage loan closing coordination, document preparation, and funding.
Role and Responsibilities
- Track and monitor loans expected to close and/or fund on daily basis.
- Ensure LOS system is utilized in accordance with policy and procedures, including conditions being cleared, accurate loan status, and compliance with government reporting requirements for HMDA.
- Review loans received from processing to verify completeness and accuracy of data prior to preparing closing documents. This includes final verification, as applicable, of third-party vendor work such as homeowner’s insurance, title work, and VVOE's as well as "at close" conditions.
- Prepare closing disclosures with accuracy and compliance with program guidelines.
- Provide the customer figures for closing within 24 hours of the closing or following the timeline as determined by CFPB regulations.
- Prepare and transmit loan documentation to the title company for customer disclosure and execution and provide copy to customer prior to close for their review.
- Initiate wires to the title companies for loan disbursem*nt and/or generate checks as needed, including wiring of customer's funds from BCU.
- Prepare Net Funding Sheets and work with accounting as needed.
- Address potential delivery delays to management to avoid rate lock expirations or potential unintended consequences.
- Perform post-closing and trailing doc functions to ensure timely receipt and accurate tracking of closing documentation.
Qualifications and Education Requirements
- Bilingual in Spanish and English required.
- High school diploma.
- Minimum three (3) years of recent mortgage closing experience.
- FNMA/FHA/VA experience preferred.
- Thorough understanding of 2014 Regulation Z reform and RESPA requirements.
- Ability to coordinate multiple loans for closing and funding in a professional and timely manner.
- Thorough understanding of required mortgage loan closing documents.
- Strong communication, organization, and problem-solving/analytical skills.
- Detail oriented with an appreciation for accuracy.
- Team oriented, yet able to work independently with little supervision.
- Ability to meet deadlines, prioritize workload, and to perform in a fast-paced, high-volume environment.
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Seniority level
Associate -
Employment type
Full-time -
Job function
Finance -
Industries
Banking and Financial Services
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Featured Benefits
Inferred from the description for this job
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Medical insurance
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Dental insurance
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Vision insurance
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401(k)
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Paid maternity leave
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Paid paternity leave
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Tuition assistance
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Disability insurance
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