Mortgage Closer job description
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What does a Mortgage Closer do?
The Mortgage Closer is responsible for finalizing mortgage loan documents and ensuring all paperwork is accurately completed and compliant with regulatory standards. This role is vital in facilitating smooth and successful loan transactions, contributing to the company's operational efficiency and customer satisfaction.
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What are the Key Responsibilities of Mortgage Closer
- Review loan files for completeness and accuracy before closing.
- Coordinate with title companies, realtors, and borrowers for closing arrangements.
- Prepare necessary closing documents and ensure they meet legal requirements.
- Verify insurance policies and ensure escrow is set up correctly.
- Facilitate the timely disbursement of loan funds.
- Resolve any discrepancies in closing documents.
- Monitor compliance with state and federal regulations during the closing process.
What are the Skills and Requirements for a Mortgage Closer?
- Strong knowledge of mortgage closing procedures and regulations.
- Attention to detail and accuracy in document preparation.
- Excellent communication skills for interacting with clients and third parties.
- Ability to manage multiple files and deadlines effectively.
- Problem-solving skills to address title or loan issues promptly.
What are the KPIs to track for Mortgage Closer?
Key performance indicators for the Mortgage Closer include the accuracy and completeness of closing documents, adherence to closing timelines, and customer satisfaction with the closing process.
Document Accuracy
Ensure complete and accurate closing documentation.
Timeliness
Adhere to closing deadlines and timelines.
Customer Satisfaction
Achieve high customer satisfaction ratings post-closing.
Reports to
Closing Manager
Collaborates with
Loan Officers, Title Companies, Underwriters
Leads
Closing Assistants (if applicable)
Are any specific tools or software required for the Mortgage Closer role?
- Encompass
- DocMagic
- Microsoft Excel
- Adobe Acrobat
What is the qualification of Mortgage Closer?
Bachelor's degree in business, finance, or related field preferred; 3+ years of experience in mortgage closing or related roles.
