Mortgage Loan Closer

Company: Texas Farm Credit
Location: Tyler
Posted on: May 3, 2021

Job Description:

JOB OPPORTUNITY

JOB TITLE: Mortgage Loan Closer

LOCATION: Tyler, TX

SALARY: Competitive salary plus incentive pay and full benefits

Company Profile:

Texas Farm Credit (TFC) was established January 1, 2014 from the merger of AgriLand, Farm Credit Services and Texas AgFinance, Farm Credit Services. As a customer-owned cooperative, we operate in our borrowers' best interests and cater to their short- and long-term credit needs, with flexible financing solutions and an array of cash management products and services. Texas Farm Credit finances agricultural production, rural land, agribusiness needs and country homes. Our rural lending professionals can structure a loan to meet the customer's individual needs, from cattle and timber loans to rural real estate mortgages and complex agribusiness financing packages.

Education and Experience Requirements:

High school diploma plus two (2) to four (4) years' experience in land or title examination with a working knowledge of the Texas Homestead Act and the Truth-in-Lending Act

Skill Requirements:

Intermediate skill with Microsoft office products and loan originating software; knowledge of title insurance, crop insurance and credit life insurance; knowledge of real estate security legal requirements, Truth-in-Lending Act regulations and procedures, FHMA requirements, and loan processing procedures; knowledge of documentation requirements for title policies, deeds of trust, and collateral; knowledge of accounting/financial systems; proven customer service skills with the ability to communicate effectively with customers and co-workers.

Job Scope:

Ensures preparation of loan closing requirements and instruments within accepted procedures and guidelines of the Association and prepares loan closing packages. Performs title review and certification of liens covered by title insurance. Approves disbursement of loan proceeds.

Essential Functions:

1. Review commitments for title insurance to substantiate adequacy of the title to meet regulatory and association requirements.
2. Organize loan closing requirements and instruments in compliance with all bank and association policies, procedures, and regulations. Ensure all requirements are met prior to closing and assists the loan officer in coordinating the date, time and place for the loan closing.
3. Assemble and compile documents for closing, such as insurance forms, loan forms, and flood certificates. Examine loan applications and closing documents for accuracy and completeness.
4. Research borrower/collateral history including tax lien and judgment search (if not performed by the title company). Process UCC filings, searches and billing.
5. Verify sufficiency of legal description of the security of the collateral.
6. Prepare loan closing statements verifying net loan proceeds, loan maturity dates and initial interest and principal repayment dates. Request and approve loan proceeds (wire transfers) and verify receipt of funds by the title company.
7. Prepare various statements to meet requirements of the Truth-in-Lending Act as required (i.e. Disclosure, RESPA, Right to Cancel).
8. Review post-closing documents such as title policies, deeds of trust, assignments and additional collateral. Ensure that all documents have been properly signed, witnessed and notarized by all required individuals.
9. With properly delegated authority, may close loans in the absence of the loan officer and sign the Association loan proceeds check.

EOE/AA/M/F/D/V

Keywords: Texas Farm Credit, Tyler , Mortgage Loan Closer, Other , Tyler, Texas