Under the direction of the Operations Manager, the Closer is responsible for performing tasks associated with the Closing Department. A Closer is responsible in reviewing a loan file for accuracy, completeness, to ensure closing documentation is meeting all conditions, regulatory, compliance, and investor guidelines. Closer is also responsible for ensuring the timely delivery of initial and final documentation meeting service level agreements.
An overview of responsibilities includes but is not limited to the following:
- Ensure loans are closed according to program and internal guidelines in compliance with company, agency, and investor standards.
- Understanding of all TRID, state, and agency regulations and documentation to stay compliant.
- Ensure consistency, accuracy and completeness of loan information and documentation.
- Utilize checklists/job aids to ensure files closed accurately with all required information and documentation.
- Review and monitor closing pipeline(s) stay current on service level agreements and TRID timelines.
- Responsible to update the Team Lead or Operations Manager of any pending issues delaying the release of TRID closing disclosures or closing documents.
- Must be able to meet established minimum daily expectations for this position. Minimum is an average of four (4) files per day, more as necessary.
- Work and communicate professionally with external vendors and internal departments as to required documentation or corrections to documentation for completion before closing of the loan. This requires a proactive stance in pursuing said documents from within the company, third parties and borrowers.
- Closer is responsible for independently managing their assigned tasks and workflow items to satisfy turn-time requirements.
- Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
- Solve problems promptly, communicate effectively with internal and external customers, and work well under pressure.
- Ensure it meets underwriting guidelines for cash to close, cash back, and minimum investment requirements.
- Updating the LOS to include all communications regarding file information (phone calls, emails, etc.), updating status, suspense dates, cleared date, and other information as necessary.
- Respond and maintain email communication in a timely manner within personal and if applicable department email boxes.
- Maintain thorough understanding of loan documents and loan program requirements.
- Stay abreast of any changes and/or new products and make appropriate adjustments to any processes and procedures in each job function
- Works closely with Team Lead and Operations Manager on changes in procedures, automation and forms to increase department efficiency and accuracy.
- Reports to Operations Manager any internal or external issues that could adversely impact the fulfillment of required duties
- Performs other duties and projects as assigned by Operations Manager
- Intermediate math skills.
- Total recent work experience includes two or more years’ experience as a Funder for Conventional, FHA and VA loans, with at least one year experience funding FHA loans.
- General knowledge of overall mortgage lending internal processes and controls, as well as federal, state, and regulatory requirements/guidelines related to consumer mortgage lending for Conventional loans.
- Proficiency in various computer software programs including: Microsoft Office (Excel, Word, Outlook), database management and other business applications.
- Maintain confidentiality of employee and company information.
- Strong customer service, communication, organization and analytical problem resolution skills, as well as detail oriented.
- Conducts work and personal interactions in a professional manner.
- Proven ability to identify root causes of problems, and identify and implement proactive solutions.
- Demonstrated ability to perform effectively under tight timelines.
- Familiar with new TRID Guidelines and Policies
- Ability to work overtime when needed.
- Minimum of 2-3 years mortgage experience
- Bachelor’s Degree or equivalent work experience required.
This job description is designed to provide guidelines and direction for accomplishing company, departmental, and individual goals and objectives. It covers the essential responsibilities and activities involved in the effective execution of this position. It is not meant to be all-encompassing or all-inclusive. All job duties and responsibilities must be performed within the guidelines of the Employee Handbook as well as established policies and procedures.