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POSITION:  RESIDENTIAL LOAN CLOSER

Summary:

Thorough knowledge of residential loan products, closing documents, policies and procedures. Responsible for the coordination and preparation of all retail loans closing. Handles customer contact as it pertains to the closing of the loan. 

Key Result Areas:  

  • Effectively manage and monitor assigned pipeline for loan closings within compliance, rate lock expiration dates and purchase and sale closing dates.
  • Attend regularly scheduled pipeline meetings to discuss status of loans and actions to be taken.
  • Work both independently and as a team with Mortgage Loan Officers, Loan Analysts, Underwriter, Branches, Loan Servicing, Attorneys and Management to ensure a smooth closing process.
  • Ensure all compliance requirements are met on every file.
  • Communicate Clear to Close and schedule loan closing with attorney and/or branch.
  • Ensure proper maintenance of Encompass throughout the closing process. To include reviewing borrower’s names, subject property address, and update fees as applicable.
  • Work with Closing Attorney to obtain all fees related to the loan closing to accurately complete the Closing Disclosure and that it is delivered to the borrower(s) at least 7 days prior to closing to ensure compliance of TRID.
  • Complete Verification of Employment on borrower(s) with a maximum of 3 days prior to closing.
  • Prepare and review closing documents utilizing checklist(s), Title, MLC, and Encompass for accuracy and compliance.
  • Review Closing Disclosure for accuracy to complete Final Loan Review process which includes refreshing credit, AUS Findings, 1003 & 1008. 
  • Assist to cure all post-closing errors and omissions on both investor and portfolio loans.
  • Knowledge of parameters and requirements of all loan products offered.
  • Establish and maintain effective working relationships with other employees and customers.
  • Contribute to the effective team management of all bank problems, issues and opportunities.
  • Perform additional duties as required.    

 

Qualifications: 

  • High school education. 
  • 3-5 years' experience working in a loan processing, closing, servicing or underwriting environment.
  • Complete knowledge of mortgage loan products, preferably CSB products.
  • Good communication and customer service skills are required.
  • Strong computer skills.
  • Knowledge of federal and local regulations or ordinances concerning lending activities.
  • Good analytical skills.
  • Attention to detail and organizational skills are required.
  • A strong understanding of Secondary market guidelines such as; FNMA, FHLMC and approved Investors.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities the inclusion of which would be in conformity with the major purpose of this job. 

Location:                   

Waltham, Massachusetts 

About Cambridge Savings Bank: 

Cambridge Savings Bank is a full-service financial institution with approximately $4 billion in assets that is committed to improving the quality of life in the communities it serves. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has branches located in Arlington, Bedford, Belmont, Burlington, Cambridge, Charlestown, Concord, Lexington, Newton, and Watertown.

Cambridge Savings Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.