Closer II

Municipal Credit Union; New York (NY); On-site; USD 41,000 - 68,000; Full time

Benefits offered by this job

Medical insurance

Vision insurance

Dental insurance

401(k) with employer contribution

11 paid holidays annually

Flexible paid time off

Job summary

Municipal Credit Union is seeking a Closer II to manage real estate loan closings in a high-volume environment in New York. You will ensure all closing documents meet federal, state, and investor requirements, coordinating with attorneys, title companies, and settlement agents to achieve timely closings.

The role requires thorough knowledge of TRID, RESPA, and various mortgage guidelines, with strong analytical and communication skills to support underwriters and borrowers.

Qualifications

• Bachelor’s degree with 5 years’ real estate closing experience.
• Associate’s degree with 10 years’ closing experience.
• Knowledge of LE, COC and CD preparation.
• Strong PC skills: Word, Excel, PowerPoint.
• Notary public preferred.

Responsibilities

• Review the clear to close loan file and checklist for completeness and accuracy.
• Evaluate conditions in loan approvals to confirm underwriting satisfaction.
• Verify title, tax information, and insurance align with loan approval.
• Enter and verify data in the LOS system for accuracy.
• Review the Loan Estimate and Closing Disclosure for compliance.
• Prepare closing documents through LOS vendor.
• Ensure secure delivery of documents to parties involved.
• Address identified compliance issues per guidance and close coordination.
• Communicate closing details to attorney, title company, and borrowers.
• Review payment options and borrower information in LOS.

Skills

Real estate closings

TRID/RESPA knowledge

Loan processing

Attention to detail

Education

Bachelor’s degree

Associate’s degree

Tools

Microsoft Word

Excel

PowerPoint

Job description

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 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.

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 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.

Our Mission

To help hard-working New Yorkers build better tomorrows

Our Vision

Be New York's most loved financial institution by helping our members build their best financial futures

Overview

The Closer II is under general supervision, but 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 residential lending guidelines. Responsible for working with all parties involved in the process to ensure a timely closing.

Responsibilities

• Review the clear to close loan file in its entirety and checklist to ensure completeness, accuracy, and compliance.
• Review loan approval to determine conditions that must be met prior to closing have been satisfied and reviewed by underwriting.
• Review title work, tax information, and insurance along with lock information to verify supplied information is consistent with loan approval.
• Enter all information into LOS and verifies information in system is correct and accurate.
• Review the Loan Estimate and Closing Disclosure for accuracy and compliance.
• Prepare closing documents through 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.
• 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 to all impacted parties in a timely fashion.
• Continuously monitor Pipeline reports and track title clearance status of all loans with Bank Attorney/Settlement Agent. Proactively reach out to parties to ensure loans close timely and meet borrowers closing dates for purchase transactions.
• Request updated payoff information for all loans and accounts requires to be paid off.
• Fund loans according to the final closing numbers.
• Prepare funding wire information to be signed off by Mortgage Closing Manager and coordinate with accounting.
• On Home Equity transactions, fund loan disbursements via check in accordance with loan approval requirements.
• Disburse loan fees via internal journal entries.
• Review and verify executed closing packages to ensure all documents are signed appropriately and all fees are accurate within 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.
• Ability to perform in a high-volume environment and meet deadlines while maintaining exceptional attention to detail.
• Technologically proficient.

Why you'll be a good fit:

Our Core Values are an integral part of who we are and who we hire. By living our Core Values, every day, we continue to attract the best and brightest talent, achieve unsurpassed results and continuously challenge ourselves to be better than yesterday. These values are at the heart of our organization and within every teammate. To be a great fit, you’ll bring the following

Results

We are passionate about winning.

Agility

We proactively anticipate, respond and pivot to ensure MCU wins.

Integrity

We operate with the highest ethical standards and highest degree of honesty.

Belonging

We cultivate a culture of inclusion and teamwork.

Ownership

We take personal responsibility and hold ourselves accountable for the results.

Why You’ll Love Working Here:

The pay range for this position is between $23.88-49.41/hr. Actual base pay offered may vary depending on a number of factors such as job-related knowledge, skills, experience, and location. Employees in this position may also be eligible for an attendance bonus, 401(k) with an 8% employer contribution per pay period, and overtime eligibility. Benefits for this position include Medical, vision, dental, life, and disability insurance, flexible paid time off and 11 paid holidays annually.

Municipal Credit Union (MCU) is an Equal Opportunity Employer. Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by applicable federal, state or local laws.

We are committed to hiring, training, cultivating, promoting, and celebrating an environment where we have a welcoming and fulfilling place for all people to call home.