Job Information
Massachusetts Institute of Technology Mortgage Loan Closer in Cambridge, Massachusetts
Mortgage Loan Closer
Job Number: 24149
Functional Area: Credit Union
Department: Credit Union
School Area: Credit Union
Employment Type: Full-time (Hybrid)
Employment Category: Non-Exempt
Visa Sponsorship Available: No
Schedule:
Email a Friend Save Save Apply Now
Job Description
MORTGAGE LOAN CLOSER, MIT Federal Credit Union (MITFC), to coordinate mortgage closings with all parties, including attorneys and title companies, to complete the transaction for purchases and refinances nationwide. Will examine title policies and surveys for accuracy; prepare loan closing documents; reconcile closing disclosures; fund closed loans; review closed loan packages; and ensure compliance with Credit Union, state, and federal regulatory requirements. Responsibilities include reviewing and preparing all closing documents; coordinating with all parties to schedule and facilitate closings; calculating and verifying closing costs, fees, and disbursement amounts; disbursing loan funds; ensuring that all closing conditions and requirements are met; maintaining accurate and up-to-date records; responding to inquiries; staying current with changes in lending regulations/policies/procedures; evaluating title work and surveys for potential problems; identifying and suggesting process improvements; and other duties as assigned.
Job Requirements
REQUIRED: high school diploma or its equivalent; at least one year of mortgage banking experience or relevant lending experience in other roles; working knowledge of TRID, HOEPA, ECOA, HMDA, RESPA, flood, FNMA, BSA, OFAC FHLB, FHLMC, and other investor policies/procedures; knowledge of mortgage lending regulations/policies/procedures; meticulous attention to detail; excellent organizational, time-management, active listening, communication, and interpersonal skills; knowledge of mortgage fraud, red flags, and loan misrepresentation; demonstrated sound judgment and decision-making skills; and proficiency with Microsoft Office (Word, Excel, PowerPoint, Outlook). Must be able to work independently and as part of a team, adhere to timely communication and response times, build relationships and gain the confidence of others, and prioritize and manage multiple responsibilities simultaneously based on urgency and importance in a fast-paced environment. PREFERRED: bachelor’s degree in finance, business, or related field. Job #24149-4The position is located in Lexington, MA. 6/14/24