Loan Closer

POSITION TITLE: Loan Closer (Non – LO – Processor) 

JOB STATUS: Full Time/Hourly 

DEPARTMENT: Loan Operations 

REPORTS TO: Loan Closing Team Lead 

TRAVEL REQUIRED: None 

WORK SCHEDULE: Hybrid - 3 days in office, 2 days remote.

PAY: The expected base pay range for this position is from $21.69 to $27.11 plus additional bonus opportunity. The stated hiring range is based on experience, qualifications, and other relevant factors. Final compensation decisions will take into account a variety of considerations, including individual skills, internal equity, and organizational needs.

JOB SUMMARY: 

The Loan Closer finalizes the loan process and ensures all documentation is accurate and complete. This role confirms all conditions of the loan approval are met and that the transaction is smoothly completed. The Loan Closer reports to the Loan Closer Team Lead and performs administrative tasks surrounding loan closing. It does not negotiate or advise credit terms with consumers.   

JOB FUNCTIONS: 

Loan Closing Process 

• Prepares, assembles, reviews, verifies, and generates closing documents, ensuring all compliance requirements are met. 

• Coordinates with closing attorneys, title companies, Home Centers, and various internal departments throughout the mortgage process to ensure timely and accurate completion of loan documentation. 

• Provide excellent customer service to customers and retail home centers throughout the closing process. 

• Utilizes company and department resources to maintain up-to-date knowledge of mortgage lending regulations to ensure compliance in loan packages.  

• Monitors loan pipeline to balance workload, coordinate daily workflow, and ensure loans are progressing forward based on regulatory and company’s requirements. 

• Maintains department telephone availability of five and a half hours.  Responds to voicemails within 24 hours.   

• Ensures standards are met which include call quality, accuracy, loan turn time, and Net Promoter Score (NPS).  

• Communicates timely with fellow team members to assist with volume and resolve issues as needed. 

• Attends monthly and quarterly meetings for process improvements, training and team building. 

• Completes compliance training regularly through the company portal. 

• Assists junior colleagues by answering questions or demonstrating how to complete a task.   

• Develops and maintains strong working relationships with all departments within Originations, home centers, and various other internal teams. Fosters a collaborative environment. 

Follow up, Final Package, and Post-Closing  

• Reviews fees (balancing) with title companies. 

• Prepares loan closing package and coordinates the details of the final closing. 

• Assist with post-closing activities as needed, such as working within the Loan Audit queue. 

• Ensures all documents are properly recorded and delivered. 

• Prepares check requests and wires.  

• Communicates with any internal group needed to resolve any final issues that arise. 

Other duties as assigned  

This job description is not an exhaustive list of all the functions that a team member and other duties may be assigned. 

QUALIFICATIONS: 

• Education:  High School diploma or equivalent required 

• Experience:  Minimum of 1 year of experience required. 

• Must have strong computer skills with ability to navigate Microsoft Office Suite. 

• Familiarity with loan processing software. 

• Ability to communicate effectively and efficiently via phone, email, and in-person. 

• Capability of gathering facts accurately, analyzing causes, evaluating alternate solutions, and arriving at sound conclusions on action to be taken. 

• Ability to manage multiple and/or conflicting responsibilities. 

• Great attention to detail and organizational skills. 

• Ability to work in a team environment. 

PHYSICAL DEMANDS: 

• Must be able to remain in a stationary position 75% of the time. 

• Will be constantly operating a computer and other office productivity machinery, such as a telephone, calculator, copy machine, and computer printer. 

• Will be communicating 75% of the time over the phone and email. 

• Must be able to exchange accurate information at all times. 

• Must be able to identify and assess account status and determine appropriate process. 

• Will constantly work in a state-of-the-art indoor temperature controlled, sealed window office environment.