What does a Loan Closer do?
Published 3 min read
A loan closer is responsible for the final stage of the loan process. They work with the borrower and lender to ensure all documents are in order and that the loan meets all requirements. The loan closer then coordinates with the title company to schedule the closing date and time.
Loan Closer job duties include:
- Review and verify loan documents for accuracy and completeness
- Collect and track outstanding loan conditions
- Prepare and distribute loan closing documents
- Schedule and coordinate loan closings
- Review final closing documents for accuracy
- Reconcile loan closing documents with original loan application
- Generate post-closing reports
- Maintain accurate records of all loan documentation
- Assist in preparing loans for secondary market sale
- Other duties as assigned
Loan Closer Job Requirements
Loan closers typically need at least a high school diploma, although some jobs may require postsecondary education, and most jobs will require some on-the-job training. Certification is not required for loan closers, but it may be helpful in getting a job or advancing in one's career. Experience is also not required for loan closers, but it can be helpful in getting a job or advancing in one's career.
Loan Closer Skills
- Interpersonal skills
- Communication skills
- Organizational skills
- Time management skills
- Research skills
- Analytical skills
- Critical thinking skills
- Problem-solving skills
- Negotiation skills
- Multitasking
- Customer service
- Computer skills
Related: Top Loan Closer Skills: Definition and Examples
How to become a Loan Closer
The role of a loan closer is to coordinate the closing of a mortgage loan. They work with the borrower, lender, and real estate agent to make sure all of the necessary paperwork is completed and that the closing goes smoothly.
To become a loan closer, you will need at least a high school diploma or equivalent. Some companies may require you to have an associate's degree or higher in business administration or a related field. You will also need to have strong communication and organizational skills. Experience in the mortgage industry is also helpful.
If you are interested in becoming a loan closer, contact your local mortgage companies and ask about job openings. You can also search online job boards or attend job fairs. Once you find a position that interests you, be sure to submit a well-written cover letter and resume.
Related: Loan Closer Resume Example
Related: Loan Closer Interview Questions (With Example Answers)