What are the responsibilities and job description for the Closer position at The Loan Store, Inc.?
Job Summary:
The Mortgage Closer is responsible for preparing, reviewing, and ensuring the timely and compliant closing of residential mortgage loans, including Conventional, Government (FHA, VA, USDA), Non-Qualified Mortgage (Non-QM), and Non-Delegated loans. This role plays a key part in the final stage of the mortgage process, coordinating between internal teams, title companies, and external partners to deliver a smooth closing and funding experience for all stakeholders.
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Key Responsibilities:
- Prepare and audit accurate closing documentation in accordance with the loan approval, underwriting conditions, and applicable guidelines.
- Handle a pipeline that includes Non-QM and Non-Delegated loans, ensuring compliance with program-specific documentation and investor requirements.
- Review and approve final Closing Disclosures (CDs) and Final HUD1 in collaboration with title/settlement agents.
- Confirm accurate wiring instructions.
- Communicate effectively with internal and external partners to ensure timely closings.
- Identify and resolve discrepancies in fees, loan terms, or borrower information to ensure data integrity.
- Stay up to date with evolving investor guidelines, compliance requirements (e.g., TRID, RESPA, HMDA), and non-traditional underwriting/closing standards.
- Manage re-disclosures and last-minute changes with efficiency and compliance.
- Review and respond to Post-Closing, Insuring and Quality Control audit findings.
Qualifications:
- High school diploma or equivalent required; associate or bachelor’s degree preferred.
- Minimum 2–3 years of experience in mortgage closing, including direct experience with Non-QM and Non-Delegated loans.
- Strong knowledge of agency (Fannie Mae, Freddie Mac), FHA/VA, USDA, and non-agency investor closing requirements.
- Understanding of complex loan products and documentation standards, particularly for Non-QM loans.
- High level of accuracy and attention to detail, especially in calculating fees, cures and loan terms.
- Proficient in loan origination systems such as Encompass, and comfortable working in a paperless, high-volume environment.
- Effective communication, organization, and time-management skills.
- Ability to adapt quickly to changes in procedures, volume, and investor requirements.