Loan Closing Coordinator II

Redwood Credit Union is seeking a Loan Closing Coordinator II, who will support RCU’s lending department in the closing and funding processes particularly focused in Mortgage Lending. Working both individually and as part of a team, facilitate the loan closing process including the creation and review of loan closing documents. This position requires extensive knowledge of closing document creation and funding processes and assists in the training and development of junior team members.

The Loan Closing Coordinator II has comprehensive skills in reviewing all loan closing documents for completeness and accuracy, as well as demonstrated ability to balance funding transactions in partnership with title companies utilized to transact the loan.

Key Responsibilities

Closing Document Creation and Loan Funding:

o Responsible for the creation and remittance of loan closing documents for closing agent (i.e., Title Company) utilized in loan transactions.
o Responsible to ensure that additional/supplemental documents are correctly sent to closing, including those required by underwriting stipulations.
o Review all loan documents for completeness and accuracy.
o Research and follow-through on escalated and complex inquiries from interested parties.
o Assist in the preparation of written procedures and training manuals for matters relating to closing document creation and /or funding loans.
o Validate and correct loan compliance errors, as applicable.
o Utilize strong working knowledge of TRID regulations, particularly those relating to the “Loan Estimate”, “Closing Disclosure” and property timing requirements.
o Ensure quality and compliance of work to RCU policies, procedures as well as RCU’s Investor guidelines including those of Fannie Mae.
o Maintain a thorough working knowledge of Policy and/or Federal, State, and regulatory changes that may affect the loan closing / funding process.
o Conduct thorough review of executed loan documents to maintain compliance with Federal, State and/or local laws.
o Review executed loan documents and validate correct signatures, notary information, title reports and compliance with the lender’s escrow instructions.
o Facilitate and validate the completion of all loan stipulations that are to be obtained “at closing”, “pre-funding” and/or “post funding”.
o Utilize strong understanding of fee tolerance requirements including how to correctly resolve tolerance violations in legal timely manner.
o Review and approve the “Closing Disclosure” document with the “settlement statement” from the closing agent to ensure accuracy which includes but is not limited to: