A closer is responsible for a number of tasks related to closing loans. This includes overseeing and managing loan processing within the company's policies. They must maintain excellent communication with customers, staff, and any other relevant parties to ensure a proper and timely settlement. They also send written requests and make phone calls to parties involved in the loan to obtain additional information as needed. Additionally, a closer is responsible for obtaining and preparing information needed to close a loan. Closers typically work in an office setting during regular business hours, although overtime may be required depending on the needs of the company. Businesses that offer loans, such as banks, are typical employers for closers.
The minimum educational requirement for a closer is typically a high school diploma or equivalent. However, a bachelor's degree in a related field may be required or preferred. At least three years of experience in a related field is needed as well. Closers must also have excellent communication skills, be self-motivated and have good organizational skills. The ability to work well individually with minimal supervision, as well as with others in a team setting, is required. Additionally, closers must have proficiency with basic computer programs such as the Microsoft Office suite and spreadsheet programs.
Authorize funding upon verification of all documentation.
Order credit reports, appraisals, title insurance, and all other certifications as necessary.
Answer questions regarding closing requirements.
Maintain communication with brokers partners and closing/settlement agents with loan status.