Emporium TPO has been named a Top Workplace in the 2024 Scotsman Guide
Emporium is a wholesale origination platform dedicated to servicing professional mortgage brokers and non-delegated correspondent lenders. Our aspirations at Emporium are simple: build a team of talented individuals with shared values who think and behave like owners, create a culture focused on exceptional customer service, and deliver quality products and returns to stakeholders. Come join us!
The Closer is responsible for closing and funding residential mortgage loans in compliance with TRID regulations. They confirm that all underwriting and prior-to-close conditions have been properly cleared.
Responsibilities:
- Closely manage the pipeline to ensure deadlines and production goals are met in a timely manner.
- Ensure all closing conditions and documentation needed to comply with secondary market requirements, as outlined by the underwriter, are obtained and saved in the loan file.
- Obtain current homeowner’s insurance policies and ensure that the proper coverage amount is in effect as of the day of closing and that the policies are paid or funds to pay the policies are collected at closing.
- Perform the final verification processes regarding credit and employment and document the findings in the appropriate file.
- Obtain and clear other conditions outlined on the loan approval to make sure the loan file, as closed, will meet the investor’s requirements.
- Clear the loan in the LOS system, making sure that changes do not affect the salability of the loan or the underwriting commitment.
- Follow secondary market requirements and take appropriate actions if changes impact the original lending decision.
- Coordinate with the title company/closing agent for the receipt of all closing fees and documents for the preparation of disclosures.
- Prepare the Closing Disclosures within the timeframe outlined by the TRID regulation for residential first mortgages.
- Update the field in the LOS as required to produce a compliant document.
- Challenge any inconsistencies as the company is accountable to regulators and investors for the correct completion of the Closing Disclosures.
- Prepare the closing documents in compliance with regulations, secondary market standards, MI company standards, and Company procedures.
- Respond to any borrower inquiry regarding the Closing Disclosures so that there is a full understanding of this document.
- Coordinate with branch personnel for the closing of the loan, and with the borrower(s) regarding the closing appointment.
- Assist branch personnel with any questions they may have regarding loan closings.
- Review closing documents after closing to ensure that they were executed correctly prior to the funding of the loan.
- Fund the loans by performing the applicable wire transfer transactions for residential first mortgage loans.
- After performing an analysis, considering alternatives, and assessing the risk of action or non-action, take appropriate steps when problems are encountered
- Input the HMDA reporting information into the LOS system prior to funding the loan and assist with post-funding functions as needed.
- Uphold the Company’s compliance with anti-money laundering policies and procedures.
- Maintain comprehensive knowledge of the Customer Identification Program, USA Patriot Act, OFAC, Fair Lending Act, TRID, TIL, HOEPA, HMDA, Fact Act, and others pertaining to the residential mortgage industry.
Requirements:
- 3 years of similar or related experience in residential first mortgage closings.
- High School diploma or GED required, Bachelor’s preferred.
- Demonstrated knowledge of Agency, Non-Agency, Jumbo, and Investor guidelines and requirements.
- Prior first mortgage processing, closing, or underwriting experience is preferred.
- Knowledge of title insurance and the correlation with loan closing documents.
- Ability to effectively manage the loan pipeline and meet turnaround time standards.
- Ability to adapt to changes in market, regulatory, agency, and investor requirements.
- Prior residential lending experience in either a processing, underwriting, or loan closing capacity.
Why Join Us?
Comprehensive Benefits: Start enjoying our benefits from the 1st of the month following your hire date:
- Choose from 4 comprehensive medical plans, dental, vision, etc.
- Company paid Life Insurance, Short and Long Term Disability Coverage
Employee Assistance Program: Free confidential help with a variety of personal, work-life, and concierge needs.
Legal Assistance: Provided via Hyatt Legal for estates, creating wills, or civil matters.
Supportive Work-Life Balance:
- 9 Company Holidays, plus your birthday off as an additional holiday.
- 2 Floating Holidays.
- PTO and/or Sick Days.
- Voting Time Off.
- Paid Parental Leave.
- Bereavement Leave.
Career Development: Continuous growth opportunities through paid training and a collaborative culture.
Tuition Reimbursement: Financial help for your career and educational goals.
Financial Security: 401K plan to secure your future.
Team Bonding: Company outings and virtual happy hours to foster a collaborative culture.
Birthday Surprise: We celebrate your birthday with a tasty surprise from us!
Emporium is an equal-opportunity employer. At Emporium we are committed to treating all Applicants and Associates fairly based on their abilities, achievements, and experience without regard to race, national origin, sex, age, disability, veteran status, sexual orientation, gender identity, or any other classification protected by law.
