Post Closing Specialist - Elmwood Park, United States - Spencer Savings Bank

Spencer Savings Bank

Verified Company

Elmwood Park, United States

3 weeks ago

Posted by:

Mark Lane

beBee recruiter

Description

BASIC FUNCTION

Responsible for the review of residential, commercial and modified loans to assure the complete conformance of mortgage documents and related papers with applicable laws, banking regulations and company policies and procedures.

Ensures the Bank has a sound first and prior lien on the property and that mortgages are properly and promptly recorded.

MAJOR RESPONSIBILITIES

Receives and reviews closing packages submitted by closing attorneys to ensure paperwork is signed and conforms with all terms of Bank Commitment Letter, fees are collected and attorneys instructions are reviewed, verifies that Hazard and/or Flood Insurance is adequate; consults with Bank's attorney and provides followup as needed.
Receives and reviews Consumer Credit files for completeness and accuracy of recorded documents.
Checks all mortgages after recorded and returned to ensure proper execution, the property is covered and the mortgage is in first lien position.
Followsup on missing documents (Mortgage and Consumer credit) as needed with review attorneys, closing attorneys, title company, etc.
Maintains tracking reports for missing documents on new loans, modifications and Consumer Credit files.
Reviews newly modified commercial real estate loan files to ensure appropriate documentation is included.
Verifies that files are securely fastened and stored in vault in numerical order.
Performs other duties as required.

JOB REQUIREMENTS

Education:

High School Graduate or equivalent related business experience.

Experience:

Minimum of 3 years loan closing experience required.

Paralegal skills a plus.

Knowledge of legal loan closing documents and associated regulatory guidelines.

Strong customer service skills required.