Mortgage Closing Coordinator

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Work Days: Monday -Friday | Hours of Operation: 8:00am - 5:00pm

Why Broadway Bank:

We are one of the largest independently owned banks in Texas with offerings in personal and private banking, wealth management, business banking and mortgage lending.

Position Overview:

The Mortgage Closing Coordinator is responsible for the administration of the loan closing, and funding processes for portfolio residential mortgages, secondary market residential mortgages, and one-time close residential construction loans. This role ensures the seamless execution of loan closures by developing and maintaining departmental policies and procedures, thereby safeguarding the bank's interests, and complying with regulatory standards.

Essential Functions:

• Supervise the entire loan processing and closing lifecycle for portfolio and secondary market mortgage loans, including coordinating documentation and condition fulfillment.
• Communicate effectively with customers, vendors, and internal departments to gather necessary loan file documentation and ensure compliance with bank policies.
• Prepare and dispatch loan closing instructions to legal representatives, ensuring regulatory and underwriting conditions are met.
• Review attorney-prepared loan documents for accuracy, compliance with bank policies, and adherence to title commitments and approved loan terms.
• Authorize the release of documents to title companies and coordinate loan closings between borrowers and title companies.
• Review and approve Closing Disclosures , ensuring compliance with applicable regulations before authorizing the disbursement of loan proceeds.
• Oversee the closing disclosure review and approval process for mortgage loans sold in the secondary market, including the authority to wire funds.
• Administer the closing, funding, and servicing of one-time close and residential construction loans by coordinating document collection, reviewing compliance, and approving settlement statements.
• Coordinate physical inspections of construction projects to verify completion and prevent overfunding.
• Assist relationship managers with customer inquiries and keep them informed throughout the loan processing and servicing stages.
• Coordinate the closing of CRA loans with local and national nonprofit offices, adjusting loan amounts based on the borrower's ability to cover closing costs.
• Develop and maintain closing policies and procedures, ensuring they meet all regulatory requirements.
• Act as a subject matter expert on loan compliance regulations, leading the bank's residential real estate lending departments toward compliance.
• This position may require travel within the Bank's geographic area.

Experience & Education:

• A minimum of 4-6 years experience in residential loan processing, documentation, and closing.
• High school diploma or equivalent is required.
• A 4-year college degree in finance, real estate, or accounting is preferred.

Skills & Qualifications:

• Proficiency in multitasking and prioritization.
• Strong knowledge of real estate and construction loan terminology, compliance, and legal requirements.
• Excellent written and verbal communication skills.
• Capability to manage heavy work volumes under pressure in a deadline-driven environment.
• Demonstrated decision-making, follow-up, and organizational skills with keen attention to detail.
• Strong mathematical aptitude.
• Proficiency in Microsoft Office Suite applications.

Other Requirements:

• Register and maintain registry as a Mortgage Loan Officer (MLO) with the Nationwide Mortgage Licensing System (NMLS) and Registry and in accordance with the Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act).
• Meet and maintain financial responsibility, character and general fitness standards along with all other established requirements for an individual Loan Originator (LO) in accordance with Regulation Z.
• Stay abreast of changes in laws and regulations affecting real estate lending to assist with necessary procedural updates.
• Requires the ability to lift, carry, push, pull weights or otherwise move objects weighing as much as 10 lbs. on a regular basis and/or for extended periods of time during the workday.
• Occasional overtime or extended hours may be required.

We're a culture that offers resources to benefit your overall health and well-being:

• Career Development and Mentorship Programs
• Generous paid time off, minimum 4 weeks
• Employee recognition, awards, and events
• Free vision insurance
• Retirement matching
• Tuition reimbursement