Mortgage Business Used to be my Career
I currently am a stay-at-home mom. Prior to this, I worked for a well known mortgage company in Riverside, CA. My position was a Sr. Closing Specialist. I was lucky enough to get this job 9 months out of high school. I worked here from March 1986 to July 2007. I always had the same position of a Closing Specialist. I funded loans for new construction home purchases in the Inland Empire. That sounds rather simple but there are several steps to getting a loan funded. After a loan was fully approved by an underwriter, the first thing I would do is prepare all the loan documentation which consists of the Note & Deed of Trust and other various forms that a borrower must sign. After they are prepared I would then have them couriered over to the Escrow Company where they would contact the borrower to come in and sign these documents and to bring in there funds for closing. After the borrower has signed these loan documents, the escrow company would then send the loan documents back to me for final review. I would check to make sure that the borrower signed everywhere that a signature was needed, that escrow provided a correct HUD-I statement, confirm all the correct fees have been charged to the appropriate party and make sure all of the underwriters conditions, if any, were sent with the loan documents. If there was anything missing I would have to contact the escrow, give them my list of outstanding items and wait till they have been sent or faxed to me. After all items are received and all the fees are confirmed, I would then fund the loan. This means, I would request a wire transfer to be sent to escrow or title, which is usually the loan amount minus and fees being charged by the mortgage company. After escrow or title receives these funds they would take the Deed of Trust to the appropriate county recorders office and the Deed of Trust would be recorded. Meaning, once the Deed of Trust that the borrower signed is recorded, the house then truly belongs to the borrower. I felt good after I funded and confirmed a loan had recorded, because I had just been in the process of helping families obtain the American dream of owning their own home. I had an awesome experience while I worked all those years at that company.