Senior Associate Mortgage Closer

Alliant Credit Union; Chicago (IL); On-site; USD 52,300 - 81,300; Full time

Benefits offered by this job

Annual performance bonus

Work from home up to 3 days a week

Paid parental leave

Employee discount programs

Time off including paid personal and s

11 paid holidays

Job summary

Alliant Credit Union in Chicago seeks a mortgage closing specialist for a hybrid role at our headquarters. You will prepare closing instructions, review documents, and reconcile funding for first mortgage loans, ensuring compliance with regulatory and internal guidelines.

You will collaborate with cross-functional teams, vendors, and third-party partners to clear issues and support closing, funding and loan sale activity while providing timely updates across the process.

Qualifications

• Minimum - High School or Equivalent.
• Minimum - 5 Years of First Mortgage Closing, Lending Operations, Residential Real Estate Closing Packages/Instructions, Funding Procedures or related.

Responsibilities

• Review mortgage loan documents and prepare closing instructions for conventional and complex applications.
• Verify funding amounts and issue funding authorizations with accurate ledger reconciliation.
• Input data into loan origination and wire systems and ensure compliance with underwriting guidelines.
• Coordinate with title agents, escrow companies, and third-party partners to clear issues.
• Communicate timelines and maintain service level agreements for mortgage closings.

Skills

Mortgage closing

Regulatory compliance

Documentation preparation

Cross-functional collaboration

Education

High School diploma or equivalent

Job description

In this hybrid role based at our Chicago Headquarters, you will review, prepare documentation, reconciliation for the closing and funding of routine to complex first mortgage loan applications while ensuring transactions are compliant with regulatory and internal guidelines. Prepare and deliver documentation, reports and additional information in support of mortgage loan closing, funding and sale activity. Review mortgage loan documentation and work directly with third party partners to clear identified issues and support mortgage closing, funding and loan sale activity. Collaborate with cross-functional teams, vendors, and third-party relationships.

• Prepare closing instructions for routine and complex applications in all 50 states including products such as: FHA, VA, Construction, etc. and the documents to be provided to title or escrow agents.
• Review data in the loan origination system for accuracy and input information into applicable loan origination / wire request systems.
• Analyze and evaluate given information relative to underwriting guidelines.
• Verify funding amounts, issue funding authorization or wire instruction, and reconciles amounts to various general ledger accounts.
• Ensure accuracy of the loan application data by clearing inconsistencies prior to generating compliant closing documents, funding of applications and assistance in any deficiencies related to the sale of first lien mortgage originations.
• Reconcile system generated alerts as requested by gathering and validating relevant supporting documentation.
• Communicates timelines and expectations in order to manage and maintain departmental service level agreements.
• Ensures the loan closing workflow is meeting deadlines as set forth by the application, purchase agreement and general service level agreements of the mortgage closing department.
• Provide set service level for each loan application and originating team member from time of receipt to the next applicable application workflow.
• Provide the team members such as loan officers, borrowers and operations teammates with timely updates while participating in weekly status meetings with respective operations team members.
• Communicate with loan officers, borrowers, operations staff, title companies, realtors, builders and all other internal / external partners.
• Establish, maintain, and update files, databases, records, and/or other documents for recurring internal report.
• Make recommendations for procedural changes to increase efficiency.

Education & Years of Experience

• Minimum - High School or Equivalent
• Minimum - 5 Years of First Mortgage Closing, First Mortgage Lending Operations, Residential Real Estate Closing Packages/Instructions, Funding Procedures or related

Typical hiring range:

$52,300.00 to $81,300.00 Annually. Actual compensation will be determined using factors such as experience, skills & knowledge.

Benefits:

Alliant provides a benefits package including health care, vision, dental, and 401k with employer match including:

• Annual performance bonus
• Work from home up to 3 days a week
• Paid parental leave
• Employee discount programs
• Time off including paid personal and sick days
• 11 paid holidays

*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.

Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.

The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice.

Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.