Loan Closer

The Loan Closer serves as the final compliance and funding authority prior to loan disbursement and investor delivery. This role is responsible for reviewing, approving, and coordinating complex closing transactions while ensuring strict adherence to regulatory, investor, and company guidelines.

The Loan Closer protects the company from funding errors, compliance violations, and post-closing defects by exercising advanced judgment, precision, and deadline discipline. This individual also acts as a subject matter expert and resource to junior closers and operations staff.

Key Responsibilities

Advanced Closing & Compliance Oversight

• Perform comprehensive pre-closing audits to ensure file completeness, accuracy, and investor salability
• Review and approve Closing Disclosures (CD) in compliance with TRID requirements
• Ensure all tolerance cures, redisclosures, and waiting periods are properly satisfied
• Validate loan terms, fees, credits, and cash-to-close calculations
• Identify and resolve compliance risks prior to funding authorization

Funding Authorization & Risk Control

• Review and clear all prior-to-funding conditions
• Authorize loans for funding in accordance with company policy
• Verify funding figures and coordinate wire instructions with Title
• Prevent funding delays through proactive risk identification

Title & Settlement Leadership

• Coordinate complex closings with Title companies, Loan Originators, and Operations
• Review and approve settlement statements for accuracy and compliance
• Resolve fee discrepancies, lender credit adjustments, and investor guideline conflicts
• Manage rush and same-day closings while maintaining high accuracy standards

Investor & Quality Assurance

• Ensure loans meet agency and investor delivery requirements
• Review files for potential post-closing audit concerns
• Identify patterns or recurring defects and communicate trends to Operations leadership
• Assist in reducing post-closing suspense and investor stipulations

Leadership & Mentorship

• Serve as subject matter expert on closing compliance and regulatory requirements
• Provide guidance and training to junior closers and processors
• Assist in developing closing procedures and workflow improvements
• Support cross-department collaboration to enhance overall loan cycle efficiency

Qualifications & Requirements

• 5+ years of residential mortgage closing experience
• Demonstrated experience handling complex loan scenarios (FHA, VA, Conventional, USDA; Non-QM a plus)
• Advanced knowledge of:
• TRID requirements
• Dodd-Frank & CFPB regulations
• FHA, Fannie Mae, Freddie Mac, and Ginnie Mae guidelines 
• Change of Circumstances 
• Experience reviewing and approving Closing Disclosures and settlement statements independently
• Strong understanding of funding processes and wire control procedures
• Exceptional attention to detail and analytical ability
• Strong communication and leadership skills
• Ability to manage high volume while maintaining compliance precision
• Proficiency in Encompass and Microsoft Office (Excel required)

Core Competencies

• Advanced Compliance & TRID Mastery
• Funding Risk Management
• Investor Salability Awareness
• Process Improvement
• Deadline Discipline
• Leadership & Mentorship
• Accuracy Under Pressure

Performance Expectations

• Maintain high file accuracy with minimal post-closing defects
• Meet or exceed monthly closing volume benchmarks
• Ensure funding timelines are consistently achieved
• Reduce investor suspense and audit findings

Physical Requirements

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Travel is required.
• Frequently required to stand, walk, sit, and travel between various locations.
• Frequently required to use hands to finger, handle, or feel, and reach with hands and arms.
• Occasionally required to climb or balance, stoop, kneel, crouch, or crawl.
• Frequently lifts and/or moves up to 10 pounds and occasionally lifts and/or moves up to 20 pounds.
• Specific vision abilities required by this job include close vision, color vision, and ability to adjust focus.

This description outlines the basic responsibilities and requirements for the position noted. This is not a comprehensive listing of all job duties. Duties, responsibilities and activities may change at any time with or without notice.