Mortgage Closer Job Description
Mortgage closer
provides excellent service to our members on the closing and funding on a refinance or a purchase mortgage loan.
Mortgage Closer Duties & Responsibilities
To write an effective mortgage closer job description, begin by listing detailed duties, responsibilities and expectations. We have included mortgage closer job description templates that you can modify and use.
Sample responsibilities for this position include:
Create insuring package for FHA loans
Handling wire requests and funding of loans
Process Funding
Processing wires and funding of loans
Pay VA Funding Fees
Reviews Loss Mitigation workout accounts for loan modification changes
Subsequent to disbursement, review closed loan documents for accuracy and compliance with all state and Federal lending regulations
Follow-up for closed loan packages
Submit files for government insurance
Disburse loan proceeds
Mortgage Closer Qualifications
Qualifications for a job description may include education, certification, and experience.
Education for Mortgage Closer
Typically a job would require a certain level of education.
Employers hiring for the mortgage closer job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Education, Business, General Education, Associates, Accounting, Finance, Real Estate, Technical, Mathematics, Economics
Skills for Mortgage Closer
Desired skills for mortgage closer include:
Fifth Third Mortgage Company's policies and procedures
Funding
Industry regulations
Insuring
Mortgage banking industry
Policies and procedures as they relate to documents
Post-closing requirements
Mortgage loan documentation
Lending compliance regulations
Compliance in a banking environment
Desired experience for mortgage closer includes:
Pay FHA and VA Insurance Premiums
Activate Private Mortgage Insurance
Image closed loan document packages
Create hardfile after loan is moved from closing to post closing
Facilitate sampling for outsourced Quality Control testing
Perform fallout procedures for RLR denied pre-approvals and loans
Mortgage Closer Examples
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Mortgage Closer Job Description
Job Description Example
Our company is growing rapidly and is looking for a mortgage closer. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for mortgage closer
- Providing status information
- Complete daily deposits Core Competencies
- Technical knowledge and proficiency of mortgage industry guidelines and regulation
- Ability to work within multiple LOS screens and applications simultaneously
- Ability to prioritize and be adaptable to changing work environment
- Experience using Encompass Loan Origination System and Automated Underwriting System
- Assist Origination staff with obtaining conditions to clear the loan for closing
- Notify the settlement of clearance of loan
- Coordinate closing as necessary between member and settlement agent
- Follow up on approved loans
Qualifications for mortgage closer
- Issue final commitment letters
- Prepare closing statement
- Coordinate Closings
- Prepares legal, regulatory and custom closing documentation if applicable within established Company policies and procedures and applicable legal and regulatory guidelines
- Reviews loan documentation prior to sending documents to closing agents to ensure completeness, accuracy and compliance to state and federal lending regulations, consulting with more experienced staff as necessary to clarify or interpret regulations
- Works with closing agents to ensure necessary information is provided to complete loan closing packages while maintaining positive business relationships
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Mortgage Closer Job Description
Job Description Example
Our growing company is looking to fill the role of mortgage closer. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for mortgage closer
- Coordinate the clearing of all prior to funding conditions
- Balance final CD and request funding wire
- Create insuring packages for FHA loans
- Assisting the Origination Staff with obtaining conditions to clear the loan for closing
- Notifying the settlement of clearance of loan and coordinating closing as necessary between member and settlement agents
- Closing document preparation following the company and investor guidelines product mix
- Ensuring loan is compliant from inception
- Answers questions from borrower, originator, regarding closing requirements
- Assists attorney with any questions regarding conditions of loan closing Answers questions from borrower, originator, regarding closing requirements
- Follow-up and receive closed loan packages
Qualifications for mortgage closer
- Coordinate with closing document vendor and or attorney, to ensure all closing documents are complete and accurate
- Minimum of two years of Closing experience required
- Must have experience closing renovation loans (203k, homestyle)
- Must have experience with Encompass
- Must have current knowledge of RESPA, TRID and TILA guidelines
- Must have the ability to calculate a payoff demand statement
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Mortgage Closer Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of mortgage closer. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for mortgage closer
- Pay FHA Insurance Premiums
- Print closing documentation
- Understand and interpret product guidelines
- Make copies of documents for customer as requested
- Make customer service calls
- Supports other areas of Credit Services as needed
- Seeks opportunities to cross-sell Credit Union products to the membership
- Readiness Review of file for closing and reconcile data input to file documentation
- Issue Initial CD
- Issue Closing Package
Qualifications for mortgage closer
- Knowledge of all compliance, loan disclosure, 3-day rule, 7-day rule and TIL
- Education – HS diploma or equivalent required
- Need to have sound judgment, a consistent sense of urgency, have the ability to think independently collaboratively, be a team player and be a strong problem solver
- Minimum 3 years of experience closing loans
- General knowledge of Mortgage terminology
- Must be able to manage or perform loan origination
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Mortgage Closer Job Description
Job Description Example
Our growing company is hiring for a mortgage closer. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for mortgage closer
- Document receipt of live Notes
- Maintaining excellent, high quality working relationships with attorneys and title companies, internal and external customers
- Have a working knowledge or understanding of retail banking disclosures and regulations, preferably TRID and Reg
- Other duties as/or assigned by management
- Strive to meet all closing dates
- Review loans for compliance to RESPA 2010 rules and requirements, including review of all applicable Good Faith Estimates and Truth-In-Lending
- Ensure that all closing conditions are cleared
- Assist Post-Closing department in obtaining any corrections required on closing documents or closing documentation that is missing from the closed loan package
- Otter duties as/or assigned by management
- Audits tax and hazard information provided by the closing agent to ensure adequate amount of escrow of funds and insurance coverage will be obtained at closing
Qualifications for mortgage closer
- Minimum two years’ experience as a closer or funder
- Mortgage operations or post closing experience
- 2 years of experience closing loans in Encompass is preferred
- Acts as mentor and resource to Loan Closer I and Loan Closer II
- Provides training to Loan Closer I and Loan Closer II
- May assist Loan Closer Team Lead
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Mortgage Closer Job Description
Job Description Example
Our growing company is looking to fill the role of mortgage closer. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for mortgage closer
- Prepares loan closing packages, aggregate escrow figures, and truth in lending statements
- Reviews settlement statements, tax & insurance information, and underwriting conditions
- Works closely with closing agents, affiliates, and correspondents
- May adapt procedures, processes and techniques to meet the requirements of the function
- May assist or provide work direction to lower level team members, performing those responsibilities in accordance with the Company's policies and applicable laws
- Verifies closing and supporting documents for accuracy and completeness
- Prepares and compiles documents for shipping
- Prepares or reviews for accuracy, Closing Disclosures, Regulation Z disclosures, and other disclosures required by consumer regulation
- Performs post-closing or whole loan due diligence review of legal agreements and other closing documents to terms of loan commitment
- Performs pre-closing audit to ensure the loan conforms to all investor, state and federal guidelines, prior to closing
Qualifications for mortgage closer
- Five (5) or more years of mortgage banking closing experience preferred
- Demonstrated ability to coordinate accurate on time closings
- Experience closing Conv, FHA, VA and USDA files
- 3 years of recent closing experience
- 1 year minimum closing experience
- Thorough knowledge of mortgage lending guidelines and regulations (FHA, VA, Conventional, FHLMC, FNMA)