Mortgage Loan Closer

The Poca Valley Bank, Inc.; East Side (WV); On-site; USD 42,000 - 65,000; Full time

Job summary

The Poca Valley Bank, Inc. is seeking a mortgage loan processor to support the end-to-end processing of mortgage files in West Virginia.

The role includes obtaining and verifying information, coordinating appraisals and title work, and ensuring accurate underwriting packages are prepared for investors and PMI companies. You will also manage balloon loan modifications, coordinate loan closings, and prepare closing disclosures and disbursement papers while ensuring proper recording and investor

Qualifications

• Experience with mortgage loan processing steps and documentation.
• Ability to contact customers, realtors, and third parties to obtain required information.
• Familiarity with loan closing documents and investor submission requirements.

Responsibilities

• Review mortgage files for processing steps: credit reports, employment verification, appraisals, title searches, flood determinations, surveys, title insurance.
• Prepare balloon loan modifications as directed by the loan officer.
• Schedule loan closing dates with buyers, sellers, real estate agents, and loan officers.
• Prepare Closing Disclosure, Note, and other closing papers; inform parties of costs prior to closing; arrange disbursements and investor filings.
• Ensure closed mortgages are properly recorded and submitted to investors; balance related GL accounts.

Job description

• Reviews new mortgage loan files received for further processing such as ordering credit reports, verifying employment, requesting property appraisal, ordering title search, flood determination, if required, order survey and obtain title insurance. Determine if additional customer information is needed. Contact customers, realtors and others to obtain the necessary information. Submit underwriting packages to Investors &/or PMI company.
• Prepare maturing balloon loan modifications as directed by the loan officer.
• Schedules loan closing date with buyer, seller, real estate, loan officer and others.
• Prepares the loan closing documents such as the Note, Closing Disclosure, includes buyer/seller costs and notifies the appropriate parties of such costs prior to the closing. Prepare disbursement papers, contacts appropriate parties for the disbursement. Ship closed loan to the Investor for purchase, meet any investor requirements to ensure loan is sold. Distribute loan profit to GL accounts.
• Ensure that all closed mortgages are recorded properly. Completes the necessary forms, prepares checks to pay for the recording taxes. Submit recorded documents to Investor.
• Balance Mortgage Loans Held For Sale GL or Appraisal GL. Any other duties as assigned.