Reviews new mortgage loan files received for further processing such as ordering credit reports, verifying employment, requesting property appraisal, ordering title search, flood determination, if required, order survey and obtain title insurance. Determine if additional customer information is needed. Contact customers, realtors and others to obtain the necessary information. Submit underwriting packages to Investors &/or PMI company.
Prepare maturing balloon loan modifications as directed by the loan officer.
Schedules loan closing date with buyer, seller, real estate, loan officer and others.
Prepares the loan closing documents such as the Note, Closing Disclosure, includes buyer/seller costs and notifies the appropriate parties of such costs prior to the closing. Prepare disbursement papers, contacts appropriate parties for the disbursement. Ship closed loan to the Investor for purchase, meet any investor requirements to ensure loan is sold. Distribute loan profit to GL accounts.
Ensure that all closed mortgages are recorded properly. Completes the necessary forms, prepares checks to pay for the recording taxes. Submit recorded documents to Investor.
Balance Mortgage Loans Held For Sale GL or Appraisal GL. Any other duties as assigned.

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Mortgage Loan Closer