Why You’ll Love Working at Quorum
At Quorum Federal Credit Union, we are a cutting-edge credit union that operates as a technology company, delivering innovative financial solutions to our members. As a remote organization, we thrive on collaboration and recognize outstanding performance. We are the ideal workplace for self-motivated individuals who are committed to organizational success and eager to join a dynamic team of professionals. We stand out as a best-in-class employer, offering a unique and supportive work environment that fosters personal and professional growth. Our culture is built on valuing teamwork, recognizing achievements, and providing the tools and resources needed to excel. If you are looking for a place where you can make a meaningful impact, enjoy a flexible and fulfilling work experience, and be part of a forward-thinking team, Quorum Federal Credit Union is the perfect fit for you.
How You’ll Make an Impact
The Mortgage Loan Closer is responsible for closing all first and second mortgages, working closely with the Loan Officers and Processors from final approval through post-closing of the mortgage loan. This position requires strong communication and time management skills.
What You’ll Be Doing
Key Responsibilities
- Closes first and second mortgage applications in accordance with secondary market/Credit Union guidelines and ensures loan documentation complies with Federal, State, and local rules and regulations.
- Works with the lending team to maintain archiving of mortgage files.
- Facilitates mortgage loan closing; this includes but is not limited to reviewing loan file, preparing closing instructions, reviewing settlement statements, issuing final closing documents, and confirming closing successfully occurred by obtaining signed document copies.
- Funds mortgage loan ensuring all rules and regulations are followed. In addition, ensures all internal wire controls are followed and necessary notification is provided to Finance.
- Boards mortgage loan to third party sub-servicer, ensuring all required data and documents are transmitted accurately, timely and successfully – understanding the downstream impact of errors in this process (to the borrower, Finance, Loan Sales, and more).
- Monitors closing pipeline to identify areas that require intervention in order to expedite the mortgage process and takes action accordingly.
- Inputs and updates data into loan origination systems and assures adequate file integrity. Generates and/or ensures timely generation of all required documentation and closing disclosures.
- Submits mortgage loans through Desktop Underwriter and reviews the automated underwriting conditions to ensure loan still meets original approval eligibility.
- Interacts with assigned Loan Officer, Processor and Underwriter to resolve any file discrepancies in order to ensure timeliness of closing, compliance, and loan delivery for committed loans.
- Maintains a high level of customer service by being proactive in communication with members, vendors, attorneys, relocation agents, title company representatives and staff members in order to ensure proficient closing of all loans and a positive experience for borrowers and referral partners.
- Works with outside vendors and service providers to facilitate the loan process.
- Supports Mortgage Operations area as necessary, including overflow support for Loan Submission and Loan Processing.
- Identifies process improvements to automate and/or streamline operations and maintain adequate controls.
- Promotes and maintains a positive work atmosphere by communicating in a manner consistent with professional standards to work effectively with members, co-workers, management, partners and vendors.
- Keeps abreast of industry developments including but not limited to changes in regulations and technology.
- Ensures adherence to company policies and procedures and Banking/Credit Union Regulations.
- Performs additional duties as required.
What You Bring to the Team
- Bachelor’s degree in finance, business administration or other business-related degree is preferred; will consider a combination of education and relevant experience in lieu of degree.
- A minimum of three years related experience in mortgage loan closing, including comprehensive knowledge of TRID and non-QM regulations, is required.
- Knowledge of the mortgage process from origination to post closing.
- Detailed knowledge of secondary market guidelines and regulations.
- Excellent problem-solving, organizational, analytical, verbal and written communication skills.
- Strong decision-making ability and attention to detail, as well as excellent time management skills with the ability to manage multiple projects/duties.
- Results driven, service oriented, self-motivated and able to work independently.
- Trustworthy with the ability to maintain highest level of integrity and trust.
- Proficiency in Microsoft Office, specifically Word, Excel and PowerPoint. In addition, demonstrated understanding of and experience with Encompass is highly preferred.
Tools & Work Environment
- Stable internet connection with speeds high enough for video conferencing and screen sharing
- Smartphone with current iOS/Android OS
- Prolonged periods sitting at a workstation and working on a computer
- Ability to communicate with coworkers and customers via email, chat, teleconference, and/or phone
Where You Can Work
Candidates must reside within the United States. We are not able to consider applicants who reside in Montana, Nebraska, Rhode Island, or Puerto Rico.
Quorum's opportunities are based in the U.S., and U.S. work authorization is required. We are not able to provide current or future sponsorship.
Compensation & Rewards
Compensation for this role is $27.40-29.80/hour with the potential for discretionary incentive compensation based on both company and individual performance.
Benefits That Support You
- Excellent health insurance packages with a Health Reimbursement Account option
- Life, AD&D, Short-Term Disability and Travel Insurance
- 401k plan with company match dollar for dollar up to 6 percent*
- Generous time-off policy with paid time off (PTO), volunteer time off (VTO), birthday PTO, and company-observed holidays
- Monthly stipend for wellness activities and mental health*
- Tuition reimbursement
- Pet Benefits, including insurance, discounts, “pawternity” PTO day, and more
- Bonus/commission plan for qualifying roles
- Employee perks (including mortgage discounts!)
- PTO purchase and sell-back programs
- Rewards and peer recognition programs
- Trust-based, out-come oriented remote work environment for most roles
*After 6 months of service
Important Compliance Information
- Quorum is an Equal Employment Opportunity employer. Qualified applicants will be considered for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, marital status, protected veteran status, or disability status.
- Quorum will make reasonable accommodations in compliance with the Americans with Disabilities Act of 1990. Reasonable accommodations are available upon request for applicants and/or employees with qualifying disabilities throughout the application and employment process.
- Qualified Applicants with arrest or conviction records will be considered for employment in accordance with all applicable federal, state, city and local laws, rules, and regulations.
- This job description in no way states or implies that these are the only duties to be performed by the employee(s) incumbent in this position. Employee(s) will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments. The company reserves the sole right and discretion to make changes to this job description.
- Each employee is required to uphold the Credit Union's compliance with all policies, procedures, and required regulations including the Bank Secrecy Act and our Anti-Money Laundering policy.
- This document does not create an employment contract, implied or otherwise, other than an "at-will" relationship.