Job Description

Position Overview: The Loan Closer is responsible for preparing and reviewing loan documents, coordinating with all parties involved in the loan transaction, and ensuring the timely and accurate closing of residential and commercial loans. This role requires strong attention to detail, excellent organizational skills, and knowledge of the loan process, including compliance with federal and state regulations.

Key Responsibilities:

1. Document Preparation:

• Prepare and review loan closing documents, including promissory notes, deeds of trust, closing disclosures, and other necessary forms.
• Ensure that all documents are accurate, complete, and comply with bank requirements and regulatory guidelines.

1. Coordination:

• Communicate and coordinate with borrowers, title companies, attorneys, lenders, and other stakeholders to facilitate a smooth closing process.
• Schedule and confirm closing appointments, ensuring all necessary parties are informed and prepared.

1. Compliance and Quality Control:

• Verify that all conditions of the loan approval have been met prior to closing.
• Ensure compliance with federal, state, and local regulations, including TRID (TILA-RESPA Integrated Disclosure) guidelines.
• Conduct final quality checks to ensure all documentation is correct and ready for funding.

1. Funding and Disbursement:

• Coordinate the disbursement of loan funds, ensuring timely and accurate distribution to the appropriate parties.
• Balance and reconcile closing statements to ensure all financial aspects are in order.

1. Problem Resolution:

• Identify and resolve any issues that arise during the closing process, such as discrepancies in documentation or last-minute changes.
• Work with underwriters and other departments to resolve any outstanding conditions or concerns.

1. Customer Service:

• Provide exceptional customer service to borrowers and other stakeholders, addressing any questions or concerns throughout the closing process.
• Ensure a positive closing experience for all parties involved.

1. Record Keeping:

• Maintain accurate and organized records of all loan closings, ensuring that all documentation is stored securely and in compliance with company policies and regulatory requirements.

Qualifications:

• Education: High school diploma or equivalent required; some employers may prefer candidates with an associate's or bachelor's degree in finance, business, or a related field.
• Experience: Previous experience as a loan closer is needed.
• Knowledge: Strong understanding of loan documentation, closing procedures, and regulatory compliance. Familiarity with loan origination systems (LOS) and other financial software is advantageous.
• Skills:
• Excellent attention to detail and organizational skills.
• Strong communication and interpersonal abilities.
• Ability to work under pressure and meet tight deadlines.
• Proficiency in Microsoft Office Suite and other relevant software.

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