Mortgage Loan Closer

at Bank of England Mortgage in Little Rock, Arkansas, United States

Job Description

Bank of England / Bank of England Mortgage

Mortgage Loan Closer

Job Description

Typical business work hours are 8:00 A.M. to 5:00 P.M. Monday through Friday, some over-time may be required. As a Loan Closer, you will be expected to demonstrate a sense of urgency, willingness to work closely with others, and be part of a team whose primary focus is service to our customers.  This is a non-exempt position.


Mortgage Loan Closers finalize the mortgage loans that are usually needed to buy real estate and refinance home loans. Once a mortgage loan is approved and an offer is made and accepted, the loan closer coordinates all aspects of the closing process and ensures that all terms of the sale are met. They coordinate all the steps of the loan closing, arriving at detailed and accurate financial numbers for borrowers and readying documents.

Essential Functions/Duties:

Close secondary market and portfolio loans.

Verifies that all documents contained in the loan file indicate the same name & address for each borrower. Verifies information contained on the interest rate lock sheet matches the information indicated in the loan operating system.

Follows underwriting instruction on obtaining and verifying documentation needed at closing to approve loans for funding.

Prepares closing packages according to product type, lock information and underwriting approval. Verifies loan amount, interest rate, closing date, all fees agree

with the loan officer closing instructions and all regulations related to maximum loan fees, minimum borrower investment and good faith estimates have been met.

Enters in all information required in closing documents preparation software. Including but not limited to flood cert information, insurance, tax and mortgage insurance. Prepares closing instructions with fees according to information provided by loan officer on closing fee sheet.

Checks all applicable documents in file for accuracy and consistency.

Provides all closing conditions and closing requirements to the closing agent.

Review and approves Closing Disclosure, informs closing agents of any needed

corrections. Verifies that all fees included on the Closing Disclosure prepared by the closer are correct.

Review hazard, title commitment and any other applicable insurance for accuracy and

sufficient coverage.

Requests wire from designated funder

Prepares funding checklist for reviewer.

Works with Post Closing and shipping Department to make corrections and obtain documentation needed to ensure loan purchase in timely manner.

Works closely with all mortgage operations staff, closing agents and loan officers to guaranty a smooth closing, answer questions and solve problems.

Protect Company's reputation and image by maintaining Borrower confidence; deliver a high level of customer service and by keeping mortgage loan information confidential

Organizational skills with ability to prioritize and manage multiple tasks at the same time.

Responsibility includes but is not limited to: answer questions, review files, audit files, taking over files in a closer's absence, training, preparing procedures/processes, and assist with post-closing.

Other duties as assigned by management.


Required Education & Experience:


High School Diploma or GED equivalent required, some college preferred; B.S. Degree desired.

Proficient skills with MS Office, Excel and Mortgage Industry Loan Applications/Software. Encompass 360 Software.

Minimum of two (2) years' of recent work experience in mortgage loan support, processing, or closing. Three (3) years' work experience in mortgage loan industry preferred.

Excellent customer service skills; and ability to demonstrate control, flexibility and maintain quality and high productivity when dealing with customers and changing work demand.

It is required the incumbent demonstrate excellent verbiage with written and vocal communication along with good listening skills. Multiple language skills are a plus.

Must be highly detail-oriented. Strong math and calculation skills required.

Must have organizational skills with ability to prioritize and manage multi-tasking while working in a high-volume, fast-paced environment.

Knowledge of all compliance, loan disclosure, 3-day rule, 7-day rule and TIL.

Knowledge of all Federal and State regulatory compliance requirements that apply required.

Must be able to perform essential responsibilities with or without reasonable accommodation.


Bank of England Mortgage is an Equal Opportunity Employer.  It is the policy of the Company to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.


Copy Link

Job Posting: 3060522

Posted On: Sep 19, 2021

Updated On: Oct 23, 2021