Loan Closing Coordinator II

Redwood Credit Union is seeking a Loan Closing Coordinator II, who will support RCU’s lending department in the closing and funding processes particularly focused in Mortgage Lending. Working both individually and as part of a team, facilitate the loan closing process including the creation and review of loan closing documents. This position requires extensive knowledge of closing document creation and funding processes and assists in the training and development of junior team members.

 

The Loan Closing Coordinator II has comprehensive skills in reviewing all loan closing documents for completeness and accuracy, as well as demonstrated ability to balance funding transactions in partnership with title companies utilized to transact the loan.

 

o Responsible for the creation and remittance of loan closing documents for closing agent (i.e., Title Company) utilized in loan transactions.
o Responsible to ensure that additional/supplemental documents are correctly sent to closing, including those required by underwriting stipulations.
o Review all loan documents for completeness and accuracy.
o Research and follow-through on escalated and complex inquiries from interested parties.
o Assist in the preparation of written procedures and training manuals for matters relating to closing document creation and /or funding loans.
o Validate and correct loan compliance errors, as applicable.
o Utilize strong working knowledge of TRID regulations, particularly those relating to the “Loan Estimate”, “Closing Disclosure” and property timing requirements.
o Ensure quality and compliance of work to RCU policies, procedures as well as RCU’s Investor guidelines including those of Fannie Mae.
o Maintain a thorough working knowledge of Policy and/or Federal, State, and regulatory changes that may affect the loan closing / funding process.
o Conduct thorough review of executed loan documents to maintain compliance with Federal, State and/or local laws.
o Review executed loan documents and validate correct signatures, notary information, title reports and compliance with the lender’s escrow instructions.
o Facilitate and validate the completion of all loan stipulations that are to be obtained “at closing”, “pre-funding” and/or “post funding”.
o Utilize strong understanding of fee tolerance requirements including how to correctly resolve tolerance violations in legal timely manner.
o Review and approve the “Closing Disclosure” document with the “settlement statement” from the closing agent to ensure accuracy which includes but is not limited to:
“Lender” and “Seller” fee credits are correctly itemized.
“Buyer” charged fees from interested parties are accurate and compliant to law.
All applicable fees are listed in correct sections.
Escrow impounds correctly calculated and compliant to law.
o Initiate wire transfer instructions as well as accurately reconcile loan proceeds as per lender’s “Closing Disclosure” and closing agent’s “Settlement Statement”.
o Responsible for facilitating correct remittance of loan proceeds to closing agent(s).
o Input funding information into the loan origination system and export data to create accurate loan tracking records to Member accounts in core banking platform.
o Follow up with any post-closing issues that may arise.
o Provide Support to stack loan documents and deliver to end investor(s) as required.

o Assist management with implementation of audit and/or compliance changes as required by new or amended regulations.
o Back up lending phone queue(s) and duties as needed.
o Handle advanced and complex Member and/or interested party inquiries regarding loans originated in lending departments supported.

 

 

 

At Redwood Credit Union, our mission is to passionately serve the best interests of our Members and communities. Since 1950, we have been dedicated to supporting the financial well-being of our Members through better rates, low or no fees, and best-in-class customer service. Our purpose is to inspire hope and elevate the financial well-being of our communities one person at a time, through good times and bad.

 

As a not-for-profit financial institution, we are committed to a people-first approach, which is reflected not only in how we serve our Members, but also in how we treat our employees. Our leadership team is deeply focused on fostering a culture of heart and empathy, integrity, passion, inclusion, meaningful relationships, excellence, and ensuring financial well-being for all. 

 

The ideal candidate has a combination of education and experience equivalent to a high school diploma with a minimum of three years operational experience in residential lending or closing/funding experience.

 

 

•  Competitive medical, dental, and vision insurance, mental health offerings

•  Employee performance incentive plan

• Salary Advancement– Merit increase based on performance

• 401(k) program with employer match

• Time Off- Competitive PTO accrual plus 11 paid company holidays and your birthday off!

 

• RCU employees are eligible for a .75% discount off RCU standard collateral auto loans

• RCU employees are eligible for a 1% discount on all recreational or boat loan products

• 2% discount off Visas and LOC Loans through RCU

• 0% interest loan to support employees with various immigration related expenses such as visa application fees and relocation costs. Loan amount up to $1,000.

• 0% interest loan to support employees with expenses associated with the naturalization process. Loan amount up to $15,000.

• 0% interest on garment, fitness, or home office equipment loan of up to $500

• 100% financing for employee purchased homes!

 

• Ability to stand, bend, stoop, sit, walk, twist, and turn.

• Ability to lift up to 20 pounds.

• Ability to use a computer keyboard and calculator.

• Work environment is indoors; majority of the time is spent sitting at a desk.

 

 

Internal Team Members: If you are a current Team Member, please apply through the internal careers page located in RCUNET. 

                                                  

                                                  We are an Equal Opportunity Employer