Associate - MP Closing
Bangalore, India
5d ago

Job Summary :

Once borrower application for a mortgage loan has been approved and borrower has received a commitment letter from the lender, the final step before borrower can call the house of his own is the closing process starts, or settlement.

Closer first task is to complete closing input and send closing instruction for HUD- I preparation. After HUD is received then proceed with HUD-

1 approval by sending final closing documents for signing.

Knowledge :

Basic Knowledge of Loan Origination Cycle- Loan Application, Processing, Underwriting, Closing, Knowledge of different types of mortgage and its functioning

Knowledge of functions of Title companies

Basic knowledge of Documents involved in Closing

Basic Understanding about HUD -1 preparation

Basic knowledge of Federal laws

Should have the basic understanding of closing documents

Should understand the role of Closing team and the Title company at the time of closing

Should be able to explain the importance of critical closing documents

Should be able to explain the necessity of RESPA

Should be able to explain the importance of recession date in funding

Should be able to understand various laws in different parts of US related to mortgage

Skills & Ability :

Good verbal and written communication skills are required to understand and update comments and communicate with various stake holders.

Strong Customer Service Skills and

Should have good analytical skills and have the ability to make decisions based on the situation.

Should be Detail oriented.

Should be able to effectively use a computer.

Responsibilities :

  • Updating loan information and closing related fees in Client applications
  • Verifying Tax, HOI and Flood information
  • Verifying escrow information on the loan

    Calculating pay off amount as per funding date

    Updating the loan required information in different client applications

    Completing the given target as per the clients requirements with 100% quality

    Education Qualifications :

    Bachelors Degree

    Additional Requirements :

    Minimum of 3 years of work experience in Mortgage Origination

    Willingness to work in Night Shifts

    Willingness to work on weekends based on Client requirement.

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