Job Description

Founded in early 2008, Fay Servicing committed to providing innovative servicing solutions for both performing and non-performing mortgage loans. As a specialty mortgage servicer and originator that sees the customer behind every loan, we understand that our customers aren’t loan numbers — they’re homeowners.

Summary:

Reporting to FMS Leadership, this position is responsible for the timely closing and funding of QM and non-QM mortgage loans that have been cleared to close by the underwriting department. This role ensures all closing documents are prepared and sent in compliance with underwriting and credit policy guidelines, state and federal regulations, and investor requirements.

Additionally, the Closer audits executed loan documents for accuracy and completeness, identifies and resolves any deficiencies, and validates that all conditions are met for proper closing and funding in order to facilitate successful delivery and purchase by investors.

Core Functions:

· Generate and send closing documents in compliance with underwriting and credit policy guidelines, ensuring all state, federal and investor regulations are met.

· Verify that the initial and final Closing Disclosure (CD) accurately reflects all fees and costs.

· Partner with Settlement Agents, Title Companies, Borrowers and internal teams to coordinate and facilitate a seamless closing process.

· Monitor and oversee loan closings from start to finish, addressing any issues that may arise.

· Validate that all underwriting and closing conditions are met before loan funding, ensuring loan compliance and funding authorization.

· Audit executed loan documents for accuracy, completeness and compliance with investor requirements.

· Identify and request corrections or missing items from the closing package to prevent funding delays.

· Manage funding and investor delivery to ensure loans meet all criteria for successful purchase by investors.

· Set up and request lender wire transfers with warehouse banks.

· Provide timely updates to Borrowers, Loan Processors, Underwriters and Sales teams, maintaining professionalism and responsiveness.

· Manage the closing pipeline to meet department service level agreements (SLAs) and crucial deadlines, ensuring index loan documents are properly indexed in the Loan Origination System (LOS).

· Develop domain knowledge of Fay’s business to include an understanding of organizational objectives.

· Develop positive working relationships within the team and across the organization.

· Ensure compliance with Fay’s policies, processes and practices. Successfully complete all department and company required training.

· Model Fay’s Values, Operating Principles, ethical standards, professionalism and code of conduct.

· Demonstrate behaviors that align with Fay's Values and Operating Principles.

· Perform other duties and responsibilities as assigned.

Qualifications Required:

· High School Diploma or GED required

· 2+ years’ experience in the mortgage industry required

· 2+ years’ experience of TRID closing and/ or funding experience preferred

· Prior experience with Conventional, FHA, VA, Jumbo and residential non-QM loans preferred

· Demonstratable knowledge of federal and state mortgage regulations, including TRID requirements

· Experience working with Loan Origination Systems (LOS), preferably Encompass

· Solid skills and experience in MS Word, Excel and Outlook

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