AZ-Closer/Funder
Founded in 1923, the Bear Stearns Companies Inc. is the parent company of Bear, Stearns & Co. Inc., leading investment banking and securities trading and brokerage firm. With approximately $40.0 billion in total capital, Bear Stearns serves governments, corporations, institutions and individuals worldwide. The company's business includes corporate finance, mergers and acquisitions, institutional equities and fixed income sales, trading and research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Headquartered in New York City, the company has approximately 11,200 employees.
This is a member of the Closing Department of a mortgage wholesale business. The Closing Department is responsible for the preparation and review of closing documents, interaction with closing agents to obtain necessary documentation to ensure each loan is compliant with loan approval and adheres to state and federal regulations, the calculation and wiring of funds to the closing agent and the delivery of the closing package to the servicing department beginning in the second quarter of 2005. A Closer must have solid knowledge of loan products, underwriting guidelines, escrow/title practices, as well as, regulatory compliance laws as they apply to mortgage transactions. This position will interact with Operations and Sales departments and must have a strong sense of customer service, with excellent oral and written communications skills.
Essential Job Functions
? Review of loan packages and preparation of closing documents that adhere to loan approval, lock confirmation, product guidelines and state and federal regulations.
? Timely delivery of loan package to Closing Agent with clear and concise instructions as to necessary documentation required for loan funding
? Review of executed loan documents ensuring all necessary documentation is complete and accurate ensuring a salable loan on the secondary market.
? Reconcile loan file and work closely with closing agent to determine wiring/funding amount
? Delivery of closed loan file to Servicing within required service level standards
? Ensure system is in place to track loans and track follow up items in a timely fashion
? Prioritize and monitor workflow to meet closing deadlines
? Provide detail oriented oral and written communication to Brokers, Correspondents and Closing Agents
? Work closely with Quality Control Department and Due Diligence teams, responding to loan audits.
? Provide feedback to management on suggested policy changes and/or enhancements
? Maintain company service levels to provide appropriate turn times
Requirements/Skills
? Bachelor?s degree or equivalent experience.
? Minimum 3 years experience closing 1st and 2nd lien mortgage loans for non conforming product
? Thorough knowledge of loan products, underwriting guidelines, escrow/title practices, documentation requirements and regulatory compliance
? Strong written and oral communication skills
? Must be detail oriented with high level math aptitude
? Excellent customer service skills
? Proficient knowledge of Excel and Word
? Ability to relate and work well with others
? Possess strong analytical, problem solving and decision making skills
? Demonstrates professional behavior and teamwork, is punctual, dependable and results oriented
? Demonstrated organizational skills with the ability to prioritize and complete multiple tasks on schedule, often in a stressful environment.
Other
? Extended hours may be required as needed, including Weekends/Evenings/Holidays
? Occasional Travel Required
To apply, please forward on your resume to bsrmhumanresources@bear.com via microsoft word attachment with the subject line AZ Closer/Funder position.
Bear Stearns is an equal opportunity employer. Bear Stearns considers all applicants for employment without regard to race, color, religion, gender, national origin, age, disability, marital status, sexual orientation, veteran status, or any other legally protected category under federal, state or local law.
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