Job Information
OceanFirst Bank Mortgage Loan Closer in Toms River, New Jersey
Position : Mortgage Loan Closer
Location : Toms River, NJ
Requisition ID: : 4177
At OceanFirst Bank, each one of our employees plays an important role in fulfilling the mission and taking responsibility to execute daily tasks in alignment with our core values. Together we foster an environment of respect, professionalism and diversity that makes OceanFirst a great place to work and do business.
Great benefits include: on-site fitness facility at Red Bank and Toms River headquarter offices, hybrid schedule after initial onboarding has been completed, employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!
ABOUT YOUR ROLE
Responsible for preparation of mortgage loan closing documents, review of Title Commitments, Hazard/Condo/ Flood Insurance Policies, HUD-1 Settlement Statements, and Surveys, and requests of wires to disburse funds, and balancing of general ledger accounts; mentoring and motivating the Loan Closing team, apply analytical, organizational, and communication skills.
WHAT YOU WILL DO
Prepares and distributes closing packages, including the Notes, Mortgages and Riders, and all other required documents needed.
Reviews and ensures that title binders and surveys are accurate, complete and that they conform to the needs, conditions and requirements of our mortgage commitment.
Reviews closing requirements to determine that all documents are in conformance with OceanFirst Bank closing checklists, commitment requirements, policies and procedures.
Completes department proofs daily and reconciles the Trial Balance with accounting department records monthly.
Reconciles the Loan Estimate with the Closing Disclosure, and if necessary, assures any tolerance violations are cured.
Assures conditions of the Commitment Letter are satisfied.
Reviews Final Closing Disclosure and approves for funding. Requests loan disbursement proceeds either by printing net proceeds checks or via wiring funds to closing agents. Processes adjustment checks and verifies the accuracy of data entered in the system.
Uploads closed loans to the core servicing system daily.
Ensures that all insurances, (homeowners, condo, flood and mortgage insurance), and taxes are correct with accurate escrows set up for loan servicing.
Reviews closing documents returned from Settlement Agents, exports loan from Encompass LOS to Premier Web Director; follows-up with settlement agents for closing packages and/or documents not received, completes a Checklist to verify all documents are received and properly executed, and delivers original signed closing documents to Loan Servicing.
Communicates with outside attorneys and title agents regarding scheduling of closings, problems and deficiencies with closing packages and performs follow up to ensure same are corrected.
Accountable for meeting Key Performance Indicator (KPI) targets for Loan Closer role.
Ensures compliance with all regulations governing the banking industry, as well as agency guidelines and organization policies.
Understands the compliance requirements for Loan Operations to ensure files are maintained in accordance with regulations.
WHAT WE EXPECT OF YOU
Excellent interpersonal, oral and written communication skills.
Proficient in Microsoft Office with solid typing skills.
General knowledge of banking regulations, governmental and secondary market requirements.
Working knowledge of bank products and services or ability to be trained and learn quickly.
Working knowledge of banking software such as: Encompass.
YOUR QUALIFICATIONS
High school diploma or equivalent.
Minimum of one year of banking experience, preferably in the Mortgage Department.
Additional coursework in banking, lending, or finance from an accredited institution or internal company training program is preferred.
INTERNAL AND EXTERNAL CONTACTS
Internal contacts involve departmental coordinates.
External contact with borrowers, real estate attorneys, realtors and builders.
WORKING CONDITIONS/PHYSICAL REQUIREMENTS
Office environment.
Ability to operate computer.
Ability to communicate in order to exchange simple to complex information with individuals and groups.
Ability to travel throughout Bank footprint.
OceanFirst Bank does not accept agency resumes submitted by third-party vendors unless a valid agreement has been signed and the OceanFirst Bank Talent Acquisition Team has granted authorization for submissions regarding a specified position. Please do not forward resumes to us, OceanFirst Bank employees or any other company location. OceanFirst Bank is not responsible for any fees related to unsolicited resumes.