Yolo Federal Credit Union is looking for someone who enjoys working independently and thrives on organization to oversee all real estate loan closing and funding activities. This includes auditing files for accuracy and completeness and preparing closing documents for all purchase and refinance transactions. The Real Estate Loan Closer-Funder will also package recording documents and track loan recordings with the title company and fund loans while ensuring transactions are in balance and deadlines are met.
Essential Duties and Responsibilities include but may not be limited to:
- Respond to member requests and inquiries promptly and courteously and directs members to the appropriate sales or service staff when appropriate.
- Audit files for accuracy and completeness, confirming that approval is within lending authority; rate locks are accurate; appraisals, preliminary title reports, hazard insurance, and mortgage insurance (PMI) meet program requirements; and ensure that all conditions have been satisfied.
- Update and verify final fees prior to the preparation of closing disclosures to ensure any changes are within tolerances.
- Ensure impound accounts are set up correctly if impounds have been requested or are required for the loan.
- Order hazard, flood, and PMI insurance as appropriate during the pre-closing process.
- Order tax service, submit insurance policies for tracking, and finalize PMI policies as part of the post-funding process.
- Coordinate loan signings with all parties, including members, signing agents, etc.
- Accurately prepare and package closing documents and deliver to the appropriate signing agent while ensuring compliance with applicable regulations and guidelines.
- Prepare reconveyances, subordinations, and payoff quotes as needed.
- Analyze and audit completed closing packages for compliance and completeness prior to recording and funding.
- Accurately prepare and deliver recording packages while ensuring close of escrow timelines are met.
- Confirm recording and accurately fund loans, including all disbursements, while ensuring general ledgers and accounts are in balance. Perform post-funding audits to ensure all funding tasks are complete before packaging loan up for the Loan Servicing department.
- Accurately deliver loans for sale to the secondary market in a compliant and timely manner while ensuring rate lock commitments have not expired.
Requirements:
*Must be authorized to work in the United States. Must be located within 50 miles of Yolo County, CA or must be willing to relocate
Education and Experience:
High school diploma or general education degree (GED); or equivalent training or experience. Previous experience that would normally be acquired through a minimum of one year of real estate loan closing/funding preferred. Completion of Credit Union orientation and at least four weeks of on-the-job training is required.
Language Skills:
Ability to read and interpret documents such as operating policies and procedure manuals. Ability to comprehend instructions, correspondence, memos, and loan documents. Ability to write basic correspondence and reports as well as effectively present information in one-on-one and small group situations to the public, members, and other employees.
Mathematical Skills:
Ability to add, subtract, multiply and divide numerical data. Ability to use common fractions and decimals. Ability to compute rate, ratios, and percentages. Ability to effectively use electronic spreadsheets.
Reasoning Ability:
Ability to apply common sense understanding to carry out instructions furnished in written, verbal, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.
Other Qualifications:
Must possess knowledge of secondary market guidelines, including Fannie Mae. Requires compliance with all real estate lending laws and regulations. Possess knowledge of Microsoft Office products (Excel, Word, PowerPoint, Outlook, etc.). Regular attendance and punctuality are essential functions of this role.
Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is frequently required to stand; walk; sit; type; reach with hands and arms; and talk or hear. The employee must occasionally lift and/or move up to 50 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus.
Work Environment:
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.