Loan Closer
F.N.B. Corporation, Greensboro, NC, United States
Overview
Position: Loan Closer
Business Unit: Mortgage Administration
Reports To: Manager of Mortgage Closing
This position is primarily responsible for monitoring CD dates, generating Closing Disclosures (CDs), and ensuring that CDs are executed in a timely manner to honor settlement dates. It also responsibilities include preparing closing documents, net funding of the mortgage loan, and closing coordination. The incumbent provides high quality customer service to internal and external customers, manages the settlement agent portal, and validates disclosure histories via Smart LE.
Primary Responsibilities
Prepare all Bank-prepared legal documents required to close residential mortgage loans including the note, mortgage, riders, final Real Estate Settlement Procedures Act (RESPA) documents, escrow analysis forms, amortization schedules, etc.
Prepare the Closing Disclosure in a timely manner to protect the customer’s ability to settle the transaction on time.
Performs federally required Home Ownership and Equity Protection Act (HOEPA) and Higher Priced Mortgage Loans (HPML) TILA tests on each loan, analyzes results to determine necessary steps to bring the loan into compliance, and complies with federal TRID regulations regarding settlement costs and curing deficiencies. Responsible for all changes and documentation under new TRID rules.
Review and understand attorney-prepared legal documents for errors and omissions, detect inconsistencies, and either cure the defects or instruct the settlement agent on how to cure them. Coordinate settlement through the closing portal to procure fees and information as needed to prepare CDs and documents.
Determine if the settlement agent properly prepared the Deed, Subordination Agreement, and other attorney-prepared documents; notify the settlement agent to make corrections prior to funds release.
Review homeowner’s insurance policy for adequate coverage and mortgagee clause. Perform the initial escrow analysis using information on the tax/insurance information sheet. Prepare the net funding of the loan to the settlement agent by general ledger tickets, ITI block entries, or initiating a wire transfer.
Monitor systems for Consent of electronic delivery, disclosure timing, waiting periods, redisclosures, and rescheduling closings to adhere to TRID requirements.
Perform other related duties and projects as assigned.
Compliance & Risk All employees have responsibility to act as risk managers by understanding, reporting, responding to, managing and monitoring risk per F.N.B. Corporation’s risk management program. Compliance with regulatory laws and company procedures is required in all position descriptions.
Minimum Education High School or GED
Minimum Years Experience 3
Special Skills
Excellent communication skills, both written and verbal
Excellent organizational, analytical and interpersonal skills
Detail-oriented
Ability to use general office equipment
Ability to use a personal computer and job-related software
MS Word - Intermediate Level
MS Excel - Intermediate Level
MS PowerPoint - Basic Level
Experience in mortgage loan closing or equivalent type of functional work
Special Licenses And Certificates N/A
Physical Requirements N/A
Equal Employment Opportunity (EEO) It is the policy of F.N.B. Corporation (FNB) and its affiliates not to discriminate against any employee or applicant for employment because of age, race, color, religion, sex, national origin, disability, veteran status or any other category protected by law. It is also the policy of FNB and its affiliates to employ and advance in employment all persons regardless of their status as individuals with disabilities or veterans, and to base all employment decisions only on valid job requirements. FNB provides all applicants and employees a discrimination and harassment free workplace.
FNB will not provide sponsorship for employment-based visas for this position; only candidates who are legally authorized to work in the U.S. will be considered.
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This position is primarily responsible for monitoring CD dates, generating Closing Disclosures (CDs), and ensuring that CDs are executed in a timely manner to honor settlement dates. It also responsibilities include preparing closing documents, net funding of the mortgage loan, and closing coordination. The incumbent provides high quality customer service to internal and external customers, manages the settlement agent portal, and validates disclosure histories via Smart LE.
Primary Responsibilities
Prepare all Bank-prepared legal documents required to close residential mortgage loans including the note, mortgage, riders, final Real Estate Settlement Procedures Act (RESPA) documents, escrow analysis forms, amortization schedules, etc.
Prepare the Closing Disclosure in a timely manner to protect the customer’s ability to settle the transaction on time.
Performs federally required Home Ownership and Equity Protection Act (HOEPA) and Higher Priced Mortgage Loans (HPML) TILA tests on each loan, analyzes results to determine necessary steps to bring the loan into compliance, and complies with federal TRID regulations regarding settlement costs and curing deficiencies. Responsible for all changes and documentation under new TRID rules.
Review and understand attorney-prepared legal documents for errors and omissions, detect inconsistencies, and either cure the defects or instruct the settlement agent on how to cure them. Coordinate settlement through the closing portal to procure fees and information as needed to prepare CDs and documents.
Determine if the settlement agent properly prepared the Deed, Subordination Agreement, and other attorney-prepared documents; notify the settlement agent to make corrections prior to funds release.
Review homeowner’s insurance policy for adequate coverage and mortgagee clause. Perform the initial escrow analysis using information on the tax/insurance information sheet. Prepare the net funding of the loan to the settlement agent by general ledger tickets, ITI block entries, or initiating a wire transfer.
Monitor systems for Consent of electronic delivery, disclosure timing, waiting periods, redisclosures, and rescheduling closings to adhere to TRID requirements.
Perform other related duties and projects as assigned.
Compliance & Risk All employees have responsibility to act as risk managers by understanding, reporting, responding to, managing and monitoring risk per F.N.B. Corporation’s risk management program. Compliance with regulatory laws and company procedures is required in all position descriptions.
Minimum Education High School or GED
Minimum Years Experience 3
Special Skills
Excellent communication skills, both written and verbal
Excellent organizational, analytical and interpersonal skills
Detail-oriented
Ability to use general office equipment
Ability to use a personal computer and job-related software
MS Word - Intermediate Level
MS Excel - Intermediate Level
MS PowerPoint - Basic Level
Experience in mortgage loan closing or equivalent type of functional work
Special Licenses And Certificates N/A
Physical Requirements N/A
Equal Employment Opportunity (EEO) It is the policy of F.N.B. Corporation (FNB) and its affiliates not to discriminate against any employee or applicant for employment because of age, race, color, religion, sex, national origin, disability, veteran status or any other category protected by law. It is also the policy of FNB and its affiliates to employ and advance in employment all persons regardless of their status as individuals with disabilities or veterans, and to base all employment decisions only on valid job requirements. FNB provides all applicants and employees a discrimination and harassment free workplace.
FNB will not provide sponsorship for employment-based visas for this position; only candidates who are legally authorized to work in the U.S. will be considered.
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