Mortgage Loan Closing Processor

Location/Hours: The Mortgage Loan Closing Processor would have the option to work at our corporate headquarters in Oconomowoc, WI, our Loan Production Office in Menomonee Falls, WI, or as a telecommuter from a home residence after a successful in-person training period of at least 30 days at our Loan Production Office in Menomonee Falls, WI. Anticipated schedule would be Monday through Friday from 8:00AM - 4:00PM.

Required Education and Experience

• A minimum of one year mortgage processing, servicing, or underwriting experience.
• High School Diploma or equivalent required.
• Proficient with Microsoft Word and Excel.

Preferred Skills and Experience

• Ellie Mae Encompass loan origination software experience.
• Some college-level courses.

Position Expectations

• Provides distinctive customer service to internal and external customers by responding to loan processing related inquiries in a friendly, prompt and accurate manner.
• Reviews approved mortgage loans to determine conditions that must be met prior to closing and/or funding.
• Returns loan files with outstanding prior to closing document conditions to Loan Processor for clearing before typing documents or keeps all informed if documents must be completed while the Loan Processor is working to clear the condition(s).
• Evaluates, compiles and assembles loan closing documents accurately according to regulatory, Bank policy, and investor guidelines. Delivers completed closing packages to settlement agent as far in advance of closing as possible.
• Delivers preliminary Closing Disclosures, with calculated payments, loan costs, payoffs, and other settlement service charges, to Borrower(s), Closing Agents, and Loan Officers a minimum of 3 business days prior to loan consummation.
• Submits the approved and final Closing Disclosure to the Loan Officer for review and to be sent to borrower at least 24 hours in advance of the closing..
• Prepares complete and accurate closing instructions to settlement agent to ensure Bank, investor, guaranteeing entity, and regulatory standards are met and all conditions stipulated by underwriting representatives are cleared.
• Enter correct loan data in loan origination system for loans requiring ULDD upload to investors as appropriate.
• Orders compliance reports via Encompass from Mavent and reviews findings for warnings, updating loan data in Encompass as applicable and within regulatory and investor guidelines to clear warnings.
• Processes the Uniform Closing Dataset (UCD) findings for conventional loans sold in the secondary market through Fannie Mae and/or Freddie Mac systems, via Encompass.
• Clears failure warnings in UCD findings.
• Reviews loan documentation to ensure files contain correct and necessary documentation for sale in the secondary market and to meet department guidelines.
• Reconciles and disburses funds for loan transactions settled by 3rd party agents via wire transfer on the day the loan is scheduled for disbursement according to the loan transaction disbursement date.
• Prepares and submits loan data to Loan Servicing for boarding into Bank's core system.
• Processes at a minimum the following loan types: Conventional Fixed-Rate mortgages, Conventional ARM loans, Mortgages with Mortgage Insurance, Government Loan Programs, Mortgages with Community Seconds, Home Equity Lines of Credit, Home Equity Loans, and Consumer Loans.
• Follows up on post closing documentation of open conditions needed to complete delivery and resolves loan delivery problems.
• Backs up other Mortgage Loan Operations positions in various duties as needed.
• Ensures that all loan files meet current Federal and State guidelines regarding compliance of RESPA, Regulation Z, Regulation B, MDIA, HMDA, ECOA, FCRA and GLBA.
• As requested, serves as Notary public to authenticate signatures on documents necessary to conduct Bank Five Nine business and/or to provide Notary services to our customers. Ensures that notarial acts are in compliance with applicable State regulations and Bank Five Nine notary guidelines.