Mortgage Loan Closer - Toms River, NJ

At OceanFirst Bank, each one of our employees plays an important role in delivering value to our customers and executing daily tasks in accordance with our core values. We recognize that our employees are essential to our success, making OceanFirst a great place to work and do business.

Great benefits include: on-site fitness facility at Red Bank and Toms River headquarter offices, hybrid schedule after initial onboarding has been completed (4 days in office, 1 day remote), employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!

ABOUT YOUR ROLE
Responsible for preparation of mortgage loan closing documents, review of Title Commitments, Hazard/Condo/ Flood Insurance Policies, HUD-1 Settlement Statements, and Surveys, and requests of wires to disburse funds, and balancing of general ledger accounts; mentoring and motivating the Loan Closing team, apply analytical, organizational, and communication skills.

WHAT YOU WILL DO

• Prepares and distributes closing packages, including the Notes, Mortgages and Riders, and all other required documents needed.
• Reviews and ensures that title binders and surveys are accurate, complete and that they conform to the needs, conditions and requirements of our mortgage commitment.
• Reviews closing requirements to determine that all documents are in conformance with OceanFirst Bank closing checklists, commitment requirements, policies and procedures.
• Completes department proofs daily and reconciles the Trial Balance with accounting department records monthly.
• Reconciles the Loan Estimate with the Closing Disclosure, and if necessary, assures any tolerance violations are cured.
• Assures conditions of the Commitment Letter are satisfied.
• Reviews Final Closing Disclosure and approves for funding. Requests loan disbursement proceeds either by printing net proceeds checks or via wiring funds to closing agents. Processes adjustment checks and verifies the accuracy of data entered in the system.
• Uploads closed loans to the core servicing system daily.
• Ensures that all insurances, (homeowners, condo, flood and mortgage insurance), and taxes are correct with accurate escrows set up for loan servicing.
• Reviews closing documents returned from Settlement Agents, exports loan from Encompass LOS to Premier Web Director; follows-up with settlement agents for closing packages and/or documents not received, completes a Checklist to verify all documents are received and properly executed, and delivers original signed closing documents to Loan Servicing.
• Communicates with outside attorneys and title agents regarding scheduling of closings, problems and deficiencies with closing packages and performs follow up to ensure same are corrected.
• Accountable for meeting Key Performance Indicator (KPI) targets for Loan Closer role.
• Ensures compliance with all regulations governing the banking industry, as well as agency guidelines and organization policies.
• Understands the compliance requirements for Loan Operations to ensure files are maintained in accordance with regulations.