Mortgage Closing Specialist II

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POST DATE 9/3/2016
END DATE 10/8/2016

M & T Bank Rochester, NY

M & T Bank
Rochester, NY
AJE Ref #
Job Classification
Full Time
Job Type
Company Ref #
Mid-Career (2 - 15 years)
Bachelors Degree


M&T Bank

Mortgage Closing Specialist II

Rochester, NY

Basic Function
Responsible for closing Retail, Wholesale, Reverse and Correspondent loan products.
Ensure accuracy in the preparation and review of the required documentation that relates to closing to include setting up Tax/Insurance escrow accounts and Funding.
The scope of the position involves a high level of risk due to the importance of the regulations that a closer is responsible for adhering to such as High Cost, TILA, RESPA and HUD-1 review.

Essential Position Responsibilities
Maintain effective communication with all necessary parties involved in closing a transaction, from the customer, broker, correspondent, settlement agent, loan officer, post closing, loan delivery, mortgage servicing, mortgage accounting, funding and co-workers to ensure a seamless closing experience.
Work with various internal departments as well as external organizations to obtain closing related documentation or obtain necessary information needed to complete a closing i.e. payoffs, subordinations, releases, tax, title, homeowners/flood information.
Perform a thorough and accurate review of the file to ensure the loan is in compliance with State and Federal guidelines as well as obtain verbal verification of employment on all borrowers that are income qualified. This also includes but is not limited to reviewing homeowners, flood, title and tax related documents.
Follow up on rate lock expirations and document expirations.
Review system of record information to ensure accurate closing documentation can be prepared and that the necessary closing documents are in the system. Specialized knowledge of all product, regulations and policies is required.
Validate fees and submit wires to fund all loans within necessary time frames and ensure accuracy of closing figures provided to the Settlement Agent. Review the GFE fees against the final HUD-1 figures to ensure compliance requirements have been met. Review HUD-1 for accurate closing figures such as seller concessions, ratio tolerances, investment required into transaction, and cash back at closing.
Proactively contact the Settlement Agents for scheduling status of loans that are cleared to close. Address and resolve potential issues that arise in relation to closing to meet the customers expectations.
Prefunding audit review and purchase of Correspondent loans.
Responsible for training new additions to the closing department, ensuring preparation and delivery of complete and accurate closing packages.
Responsible for reviewing daily and monthly closing reports ie. Accounting, Home Equity/Installment Loan, Mortgage Servicing and Post Closing/Loan Delivery.
Decisive problem solver. Capable of handling multiple problems at the same time. Able to pinpoint potential problems and resolve complex issues timely.
Responsible for closing new products and complex loans. Review new product internal closing highlights with department team members and train fellow co-workers once the closing has been mastered.
Assist co-workers in completing daily workload when necessary to ensure all closing deadlines are met.
Recommend efficiency and system changes to improve/streamline closing process.
Report system and closing document issues.
Test closing documents and custom enhancements for system updates.
Is considered a closing subject matter expert on all Product, Investor and Compliance requirements within the Retail, Wholesale and Correspondent channels.

Nature and Scope
Work closely with both Internal and External Customers such as co-workers, borrower(s) and Settlement Agents.

Minimum Qualifications
Bachelors Degree or 4 years of equivalent work experience.
Minimum of two years prior Mortgage experience preferably in Mortgage Closing whether at a Lender, Title Company or Settlement Agents office
Good PC skills with strong knowledge of Excel, Word Perfect, Email Platform and Adobe
Solid knowledge of Department software preferred.

Other Job Information
Ability to make sound decisions based on information provided.
Subject matter expert of Product, Investor and Compliance Requirements.
Versatility and flexibility working within an ever changing fast paced mortgage environment.
Trains peers on new policies and procedures and presents ideas to improve processes and workflow.
Ability to function independently within time constraints.
Excellent verbal and written communication skills.
Highly organized with the ability to multitask.
Strong attention to detail.
Prioritization of daily workload.
High levels of initiative, self reliance and independence.
Ability to work in a team environment.
Strong work ethic, reliable and dependable.
Notary Public

At M&T, we strive to be the best place our employees ever work, the best bank our customers ever do business with and the best investment our shareholders ever make. So when looking to advance your career, look to M&T. As a top 20 US bank holding company and one of the best performing regional banks in the country, we offer a wide range of performance based career development opportunities for talented professionals. And through our longstanding tradition of careful, conservative and consistent management and a strong commitment to the communities we serve, we continue to grow with a focus on the future.

M&T Bank Corporation is an Equal Opportunity/Affirmative Action Employer. M&T Bank Corporation does not sponsor individuals for the purpose of obtaining H-1 Visas. M&T Bank Corporation has policies and procedures in place to promote a drug free workplace.