Job Information
Berkshire Bank Mortgage Loan Closer in Remote,
Position : Mortgage Loan Closer
Division: Consumer Lending & Payments
Department: Mortgage Loan Operations
Reports to: FVP, HE & MTG Closing & Investor Manager
Status: Non-Exempt
Grade: 7
Pay Range: $20.50 - $30.50
Actual compensation within the pay range will be decided based on factors including, but not limited to, skills, prior relevant experience, and specific work location.
Location: Hybrid - MA, CT, RI
Purpose/Objective :
Performs the last step of the mortgage loan origination process before borrower’s sign closing documentation. Reviews all documentation prior to loan closings; responsible for the accuracy of loan packages and ensuring guidelines are met and are in compliance with state regulations, TILA, and RESPA. Works closely with closing agents, mortgage loan officers, processors, and underwriters.
Key Accountabilities :
Performs quality control review of cleared to close files which includes: TILA tolerance review, GFE/HUD 10% tolerance review, document expirations, address validations, escrow determinations and cash to close review. 40%
Prepares loan closing documents; delivers to closing agents in a timely fashion; makes any applicable changes needed to loan documents; communicates any specific instructions and/or requirements to closing agents. 40%
Reviews and approves loan HUD’s that are prepared by the settlement agent to ensure they are completed correctly, fees are not out of tolerance, and all other closing requirements have been met. 10%
Works with underwriters, processors, and mortgage loan officers to field questions and obtain corrections. 5%
Performs other duties as may be assigned or required. 5%
Ensures compliance with all banking laws, rules, regulations, and prescribed policies/practices/procedures necessary to reduce risk and uphold ethical standards related to and required by one’s duties.
Education:
High school diploma or equivalent
Some college desired
Experience:
3+ years of preparing mortgage closing documents & reviewing Closing Disclosures and/or HUD-1 statements.
Experience in closing conventional, FHA, VA, USDA, CHFA, Mass Housing, and construction loans.
Experience with out of tolerance credits, RESPA requirements, TILA requirements, TRID requirements, state escrow requirements, etc.
Skills & Knowledge:
Strong communication skills, both written and verbal
Ability to multi-task and work in a fast-paced environment
Attention to detail.
Ability to problem solve and find resolutions.
Berkshire Bank is an Equal Opportunity Employer - all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or national origin.