Mortgage Loan Closer

ABOUT US:

Stillman Bank is a local, community bank founded in 1882. Started in Stillman Valley, IL, we have grown to 6 locations throughout Ogle and Winnebago counties. Our organization is owned by shareholders and shareholder families, some of which span back 3 generations. Our Mission is to provide comprehensive financial solutions that support the well-being of our customers and strengthen the communities we serve.

ABOUT THE ROLE:

The Mortgage Loan Closer is responsible for the accurate and timely preparation, review, and execution of mortgage loan closing documents across a range of loan programs, including Conventional, USDA, Portfolio (first and second mortgages), and New Construction. This role requires extensive knowledge of mortgage loan products, loan documentation, TRID timing regulations, loan funding requirements, escrow and title practices, and applicable regulatory compliance laws governing mortgage lending transactions. The Closer plays a critical role in ensuring loans are closed accurately, on time, and in full compliance with investor, regulatory, and internal service level requirements.

You will:

1. Prepare closing instructions, create closing documents, balance loans, and finalize Closing Disclosures for mortgage programs including Conventional, USDA, Portfolio first and second mortgages, and New Construction.
2. Review and verify that all required aspects of the loan process have been completed and satisfied prior to authorizing and releasing funds for wire.
3. Review loan data in the loan origination system (LOS) for accuracy and input information into the applicable system(s) of record.
4. Analyze and evaluate loan information relative to underwriting guidelines to confirm readiness for closing.
5. Verify funding amounts, issue funding authorizations and wire instructions, and reconcile amounts to applicable general ledger accounts.
6. Ensure accuracy of loan application data by identifying and resolving inconsistencies prior to generating compliant closing documents, funding loans, and supporting resolution of deficiencies related to the sale of first lien mortgage originations.
7. Reconcile system-generated alerts by gathering and validating relevant supporting documentation.
8. Communicate timelines and expectations clearly to manage and maintain departmental service level agreements
9. Monitor the loan closing workflow to ensure deadlines are met as required by the loan application, purchase agreement, and general mortgage department SLAs.
10. Meet established service level targets for each loan application and originating team member, from receipt through the next stage of the workflow.
11. Provide loan officers, borrowers, and operations team members with timely, proactive status updates.
12. Communicate and coordinate effectively with loan officers, borrowers, operations staff, title companies, realtors, builders, and other internal and external stakeholders.
13. Establish, maintain, and update files, databases, records, and other documentation needed for recurring internal reporting.
14. Identify and recommend procedural improvements to increase closing department efficiency and accuracy.

This is an on-site position working 40 hours per week, working Monday - Friday.

The Work is done in a typical office environment with moderate noise levels and temperatures. Requires the ability to operate all types of typical electronic office equipment such as computers, copiers, fax machines and scanners. Primarily a sedentary position, but requires occasional standing, walking, lifting, carrying, bending, kneeling, stretching, stooping and manual dexterity using hands and fingers (for computer keyboard operation). Requires ability for extensive reading and viewing of paper documents and computer screens.