Job Summary:
A Loan Closer manages the final stages of the loan process by preparing closing documents, verifying loan conditions, ensuring compliance with company and regulatory guidelines, and coordinating with all parties involved to complete loan closings on time.
Key Responsibilities:
- Review approved loan files for completeness and accuracy.
- Prepare and process closing documents for mortgage, consumer, or commercial loans.
- Verify that all underwriting conditions have been satisfied before closing.
- Coordinate loan closings with borrowers, lenders, title companies, attorneys, and escrow officers.
- Ensure compliance with federal, state, and company lending regulations.
- Calculate closing costs, fees, and funding amounts.
- Resolve documentation discrepancies before loan funding.
- Obtain and verify required signatures and supporting documentation.
- Maintain accurate loan records and update loan management systems.
- Communicate closing timelines and status updates to all parties.
- Assist with post-closing documentation as needed.
Required Qualifications:
- High school diploma or equivalent (associate's or bachelor's degree preferred).
- Experience in loan processing, loan closing, banking, or mortgage operations.
- Knowledge of mortgage and consumer lending regulations.
- Strong attention to detail and organizational skills.
- Excellent communication and customer service abilities.
- Proficiency with Microsoft Office and loan origination software.
- Ability to manage multiple files and meet strict deadlines.
Preferred Skills:
- Familiarity with loan documentation and closing disclosures.
- Understanding of underwriting and funding processes.
- Problem-solving and analytical abilities.
- Strong mathematical and data-entry skills.
- Ability to work independently and as part of a team.
Work Environment:
Loan Closers typically work in banks, credit unions, mortgage companies, financial institutions, or title companies. Most positions are office-based, with some employers offering hybrid or remote work arrangements.
Salary (U.S.):
Depending on experience, location, and employer, Loan Closers typically earn $45,000–$75,000 per year, with senior or specialized mortgage closers often earning more, particularly when bonuses or incentives are included.
Pay: $50,000.00 - $60,000.00 per year
Benefits:
Work Location: Remote
