Remote - Sr. Mortgage Closer

    • Plano, TX
About Opendoor:
Are you intrigued by the thought of disrupting a trillion dollar industry through technology? At Opendoor, we’re on a mission to make it simple to buy and sell homes. The traditional process is broken, with an average home taking over 90 days to sell and costing thousands of dollars. We empower everyone with the freedom to move by making buying and selling a home stress-free and instant. We’ve built an exceptional team, seen strong growth, served nearly 78,000 customers (with an annual run rate of $5 billion), and raised $1.3 billion in funding. With Covid-19, the world is changing, and real estate is no exception. The coming years present a tremendous opportunity for innovation as we explore new frontiers and scale nationwide.


Department Summary: 
 The Mortgage Loan Operations Team strives to simplify loan procedures and processes, provide superior services to the customer and create long-term value by streamlining the origination process and originating loans in a cost-effective manner. 
  
These objectives are accomplished through the accurate processing of loan documents within the company standards to assure the borrower(s) receive the appropriate documents, containing correct information on time for their scheduled closing.  Proper and timely setup of the account on our processing system with complete and accurate information is essential to the department’s success.  Opendoor Home Loans pipelines must be monitored systematically to ensure timely processing of all applications.  
 
Job Summary: 
The Mortgage Processor/Closer is responsible for all aspects of the daily operations within a Mortgage Loan Operations Team.  These operations include, but are not limited to, the completion of all loan processes: generating complete and accurate disclosure documents in a timely manner; evaluating changes in key loan characteristics and generating re-disclosure documents as appropriate; ordering, obtaining, and processing loan documentation provided by customers, settlement agents, and other third parties according to established guidelines; confirming closing fees and loan terms; preparing and securing properly executed loan documents; disbursing loan proceeds pursuant to approved loan terms; and, responding and providing status information to customers, settlement agents and all other internal and external interested parties. The Mortgage Processor/Closer is responsible for a variety of loan documentation duties using comprehensive knowledge of policies and procedures for loan products.  

Essential Functions

  • Maintain proficiency in all loan processing and closing procedures
  • Ensure ongoing familiarity with other Opendoor Home Loans department responsibilities
  • Communicate, demonstrate, and inspires others to incorporate Opendoor’s vision and Core Operating Principles in daily activities
  • Consistently adherence to policies, guidelines and procedures as well as compliance regulations (HMDA, TILA, RESPA, HOEPA, FCRA and ECOA) and credit guidelines
  • Ensure achievement and maintenance of department performance standards to keep loans flowing into appropriate loan operations queues
  • Verify and compile borrower’s information for mortgage loans
  • Review residential loan application file to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment
  • Order all services for loans (title, appraisal, homeowners, flood certs, 4506T, credit supplements, obtaining all information from FHA Connections & VA Portal)
  • Calculate income (fixed, salaried) and review assets (large deposits)
  • Submit mortgage loan file for underwriting approval
  • Works on obtaining conditions on the file in order to get file cleared. 
  • Maintain the highest level of customer service
  • Works closely with Mortgage Loan Originators and their assistants to gather conditions from the borrowers
  • Complete file audit for document preparation(i.e., fee audit, vesting, validating cash to close/cash-back, insurance requirements)
  • Communicate with Broker, Settlement Agent, and Borrower as required to ensure all parties are aware of closing status and any outstanding requirements pending to confirm a closing date 
  • Collaborate with Settlement Agent to finalize loan fees
  • Confirm closing terms with all parties to ensure Closing Disclosure is drawn accurately
  • Consistently contribute to the ongoing Mortgage Loan Operations efforts to deliver process efficiencies to reduce costs and improve quality and productivity
  • Review all proposed closing date request to ensure the date/time can be met
  • Issue valid changed circumstance based on fee changes after Final Approval status/prepare CD 
  • Manage and/or participate in various operations projects

We are looking for teammates who have/are:

  • Self-starter with the ability to plan and prioritize workload for self  
  • Strong analytical skills and decision-making ability to make lending decisions and translate guidelines 
  • Ability to work independently and as a team; ability to garner support and collaborate with others 
  • Strong written and verbal communication skills 
  • Ability to work collaboratively and supportively with management to achieve business objectives 
  • Working knowledge of lending compliance and regulations 
  • Ability to multi-task and work in a deadline driven environment 

Education/Experience:

  • Five(5) years of Mortgage Processing/Closing experience 
  • Bachelor’s degree or equivalent experience from which comparable knowledge and abilities can be acquired 
  • High school or G.E.D. equivalent required 
  • Knowledgeable of conventional(Fannie Mae, Freddie Mac), Government(FHA, VA)  

More About Us
Want to learn more about us and how we are revolutionizing the home buying and selling process? Learn more about us on our website, check out our profile on The Muse to learn more about our culture from our team members, or read our blog posts to hear about the work we are doing.

We Offer the Following Benefits and Perks:
- Full medical, dental, and vision with optional 70% coverage for dependents
- Flexible vacation policy
- Commuter Benefit stipend
- Generous parental leave
- Paid time off to volunteer
Please note that these benefits and perks are available only to Full Time team members and do not apply to contract roles.

Opendoor values Openness
Our team celebrates our diverse backgrounds. We believe that being open about who we are and what we do allows us to be better. Individuals seeking employment at Opendoor are considered without regards to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, gender identity or other protected status under all applicable laws, regulations, and ordinances.


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