Under the direction of the Operations Manager, the Post Closing Specialist I is responsible for indexing final closing packages, delivering quality loan files to our investors, resolving purchasing items and meeting loan delivery/purchase deadlines. The responsibilities under this role are necessary to ensure that the specific guidelines of agencies and investors are being followed which ultimately results in the reduction of risk to the company. The role of a Post Closing Specialist I will work primarily with our serviced loans and our correspondent investors.
Responsibilities include but are not limited to the following:
- Review, verify, organize, and audit closed files to ensure accuracy, completeness and compliance with company and regulatory guidelines.
- Ensure the original closing packages are properly scanned and indexed into the LOS; prepare and complete any additional forms that may be required by purchasing entity.
- Prepare and deliver loan files electronically in compliance with all federal and state requirements to Agencies and Secondary Investors within the required timeframe.
- Work and communicate professionally with external vendors and internal departments as to required documentation or corrections to documentation for completion before shipment of loan. This requires a proactive stance in pursuing said documents from within the company, third parties and borrowers.
- Utilize investor checklists to ensure files are stacked correctly and contain all required documentation.
- Build positive relationships with vendors and investors to promote partnership.
- Monitors post closing pipeline to help identify aged loans not yet sold to the investor.
- Monitor and ensure all investor outstanding document requests are responded to in a timely manner; this includes the submitting of missing documents and correction of any custodial defects.
- Monitor all outstanding deficiencies that they are cured within specified time frames set by investor in order to get a loan cleared for purchase and avoid penalties.
- Reviews and obtains purchase advices for the completion of file.
- Coordinate post closing fulfillment duties on closed loans, hazard and flood transfers, goodbye letters, mortgage insurance activation, etc.
- Updating the LOS to include all communications regarding file information (phone calls, emails, etc.), updating status, suspense dates, cleared date, and other information as necessary.
- Respond and maintain email communication in a timely manner within personal and if applicable department email boxes.
- Reports to management any internal or external issues that could adversely impact the fulfillment of required duties.
- Post Closing Specialist I is responsible for independently managing their assigned tasks and workflow items to satisfy turn-time requirements.
- Must be able to meet established minimum daily expectations and standard level agreements (SLA’s) for this position.
- Stay abreast of any changes and make appropriate adjustments to review processes and procedures.
- Works closely with department Team Lead and Operations Manager on changes in procedures, automation and forms to increase department efficiency and accuracy.
- Performs other duties and projects as assigned by management.
- Demonstrated communication and organizational skills.
- Proficiency in various computer software programs including: Microsoft Office (Excel, Word, Outlook), database management and other business applications.
- Ability to work independently with little or no supervision.
- Maintain confidentiality of employee and company information.
- Demonstrate appropriate follow-through on requests by managers/supervisors.
- Detail orientation.
- Excellent Customer Service focus.
- Conducts work and personal interactions in a professional manner.
- 1 - 3 years mortgage experience
- High school or equivalent required.
- One year of education beyond high school preferred.