Responsibilities also include the Management and tracking of key Post Closing ancillary functions as determined by needs of the department to ensure the accuracy and completeness of the post-closing process. These essential duties within the Post Closing department are necessary to ensure that the specific guidelines of the Investor and of Lakeview are followed which ultimately leads to the results in the reduction of risk to the company. Post-Closing Specialist is expected to be knowledgeable in all ancillary functions as needed.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Responsibilities include, but are not limited to:
•Manage various Warehouse Lenders Exception Reporting via by accessing various Warehouse Data reports to clear all fatal collateral exceptions
•Pursue missing documentation and cure for fatal exceptions by utilizing other departments within the company, third parties, and borrowers in order to meet the requirements of completeness, compliance standards and accuracy
•Assist Loan Delivery on clearing any Pool exceptions and effectively communicate on any fatal exceptions preventing the pooling of a loan.
•Track and Mange aging Closing packages to ensure timely delivery of collateral to Warehouse Bank
•Track and Mange receipt of Vendor images of Closing Packages
•Track and Manage delivery of electronic images such as Mortgages and Title commitments to Warehouse Bank as determined by Warehouse Lending agreement.
•Effective communication with document vendor regarding shipping and imaging closing packages
•Ensure that Loan Origination System (LOS) Encompass is accurate.
•Ensure that Subservicer boarding information is accurate by providing updates as needed
•Complete Release Request from Document Custodian as needed for Updated collateral documents or Failed Fundings
•Monitor Trailing Documents from Title companies and distribute to appropriate party
•Assist in the shipment of government Audit loans to the necessary HUD Facility after Government Insuring Specialist review.
•Monitor all final documents including Recorded Mortgages, Final Title policies and POA’s (if applicable) on all funded loans across the Consumer and Wholesale channels.
•Tracking receipt of all final documents utilizing Encompass reporting
•Manage daily Vendor final document emails and ensure all bulk updates are prepared and uploaded to Encompass daily
•Monitor and ensure all Investor outstanding document requests are responded to in a timely manner this includes the submitting of missing documents and correction of any custodial defects.
•Assist in the clearing of any Recorded mortgage or Final Title policy defects by arranging with the Title Company and or Borrowers to clear exception(s).
•Coordinate Daily Wells audit between the Consumer, Broker and Wholesale channels to ensure that all loans selected for audit are transmitted to Wells daily
•Ensure that all bulk updates to Encompass are completed daily. These updates include but are not limited to Collateral Packages Received, Collateral Packages sent to Warehouse, Subservicer Loan Number, Final Recorded Mortgages and Final Title policies received and sent to custodian and FHA & VA fees.
•Monitor and respond to any Boarding Exceptions sent for Consumer Direct and Wholesale channel loans as reported daily by Subservicer.
•Ensure that any boarding exception trends are reported to Management
•Implement, Manage and Monitor the FHA Servicing transfer of all Consumer Direct and Wholesale loans.
•Implement, Manage and Monitor the insuring and servicing transfer of all FHA TPO channel loans.
•Assist in the Payment of all UPMIP premiums and VA funding fees to ensure timely remittance of these fees as well as the maintenance of the Remittance Report
•Monitor and Track MERS registration of all loans funding in the Consumer, Wholesale and LCC lending channels.
•Reconciliation of daily MERS reporting to Encompass and Lakeview funding reporting to ensure that registration match daily funded loans. Manage any rejections, exceptions or failed funding’s.
•Manage and track all Post Consummation and Final Document check requests across Consumer, Wholesale and LCC lending channels.
•Monitor and Manage Escrow Holdback funds in the Consumer, Wholesale and LCC lending channels
•Monitor and Manage Disaster Inspection process in the Consumer, Wholesale, TPO and LCC lending channels
•Facilitate and Mange the Iron Mountain document storage process in the Consumer, Wholesale and LCC lending channels.
•Other duties as needed or required
•Knowledge and recognition of residential mortgage loan documentation (such as closing package and credit package, on Conventional, FHA, VA, and USDA), within streamline, full doc refinance, purchase, and new construction loan types
•Strong interpersonal, communications, organizational and presentation skills required
•Able to work independently, as well as within a team environment
•Possess good judgement and problem-solving skills
•Strong Basic knowledge of Excel
•Working knowledge of computers and software (including, but not limited to Microsoft Office applications and Adobe Acrobat Standard or Professional), and willingness to learn new systems and programs
•Able to adapt to the continuously changing environment of the department’s priorities and guidelines provided by the government agencies
•Perform to a strict level of performance standards involving both quality and quantity
•Ability to work in a highly paced and dynamic environment
•Demonstrate a willingness to identify and implement changes to enhance the job process
EDUCATION AND EXPERIENCE:
•Bachelor’s degree in business or related field is preferred
•Mortgage banking experience is strongly preferred
•Prior experience in a Post-Closing or Government Insuring role is preferred
•Prior experience in Processing or Closing is a plus
CERTIFICATIONS, LICENSES, AND/OR REGISTRATION
No requirements or preferences
PHYSICAL DEMANDS AND WORK ENVIRONMENT
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit and use hands to handle, touch or feel objects, tools, or controls. The employee frequently is required to talk and hear. The noise level in the work environment is usually moderate. The employee is occasionally required to stand; walk; reach with hands and arms. The employee is rarely required to stoop, kneel, crouch, or crawl. The employee must regularly lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, color vision, and the ability to adjust focus.
Bayview is an Equal Employment Opportunity employer. All aspects of consideration for employment and employment with the Company are governed on the basis of merit, competence and qualifications without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, or any other category protected by federal, state, or local law.