What are the responsibilities and job description for the Loan Closer position at Vanderbilt Mortgage?
Position Title: Loan Closer (Non – LO – Processor)
Department: Loan Operations Job Status: Full Time/Hourly
Reports to: Loan Closing Team Lead Amount of Travel: None
Vanderbilt Mortgage and Finance, Inc. (VMF) was established in 1974 and currently services over 150,000 loans. Our strength as an organization is rooted in the quality of our people and products. We are an equal opportunity employer committed to creating a diverse workforce. Furthermore, we are financially strong, with a reputation for leading the industry with unsurpassed products, a broad range of services, and a coast-to-coast presence. We are professionally strong, from entry level to more experienced positions, we are actively recruiting individuals who are passionate, positive, and eager to learn. As a member of our team, we will equip you for success. You will enjoy excellent benefits, opportunities for growth, and an encouraging culture that supports work-life balance.
JOB SUMMARY
The Loan Closer is responsible for assembling, preparing, and verifying closing documents. This position reports to the Loan Closer Team Lead and performs administrative tasks surrounding loan closing and does not negotiate or advise credit terms with consumers.
JOB FUNCTIONS
Loan Closing
- Coordinates with closing attorneys, title companies, Home Centers, and various internal departments throughout the mortgage process to ensure timely completion.
- Provides process education and expectations to our customers and retail home centers using various methods of communication, such as calls, texts, emails, notes, and our online express portal.
- Conducts research and makes knowledgeable decisions regarding issues relating to mortgage loan processing.
- Utilizes company and department resources to maintain knowledge of loan operations policies and procedures and state and federal regulations to ensure compliance in loan packages.
- Researches, confirms, and analyzes information and documents provided by customer, home center, title companies , and other departments to correctly enter information in the appropriate systems and generate closing documents in compliance.
- Monitors loan pipeline to ensure loans are progressing forward based on regulatory and company’s requirements.
- Meets and regularly maintains department telephone availability of five and a half hours. Responds to voicemails within 24 hours. Ensures standards are met which include call quality, accuracy, loan turn time, and Net Promoter Score (NPS).
- Balances workload of queue and self-structuring to coordinate daily workflow.
- Partners with internal and external customers- collaborates internally with loan officer, processor, land examiner, and auditors, as well as external customers like home-buying customers, home centers, and title companies.
Follow up, Final Package, and Post-Closing
- Reviews fees (balancing) with title companies– showing high urgency and consistently follow-up over several days to get the fees aligned.
- Prepares loan closing package and coordinates the details of the final closing.
- Assists with post-closing tasks if they arise, such as working within the Loan Audit queue.
- Ensures all documents are properly recorded and delivered.
- Prepares check requests and wires.
- Communicates with any internal group needed to resolve any final issues that arise.
Continued learning, training, and team building
- Possesses a strong team-oriented mindset and communicates timely with fellow team members to assist with volume and resolve issues as needed.
- Attends training sessions, monthly and quarterly meetings for process improvements, training, and team building.
- Completes compliance training regularly through the company portal.
- Provides peer-to-peer coaching; closing works closely with other departments (processing, audit, land exam) and peer-to-peer coaching is expected and encouraged with closers and sister departments.
- Develops and maintains strong working relationships with all departments within Originations, home centers, and various other internal teams. Fosters a collaborative environment.
- Possesses a strong team-oriented mindset and communicates timely with fellow team members to assist with volume and resolve issues as needed.
- Stays informed on department and individual goals such as: turn time, NPS, audit scores, checklists completed, phone response time, email response times, closing percentages.
Other duties as assigned
This job description is not an exhaustive list of all the functions that a team member and other duties may be assigned.
QUALIFICATIONS:
- High School diploma or equivalent required, college preferred.
- 0-2 years related experience preferred.
- Must have strong computer skills with ability to navigate Microsoft Office Suite.
- Strong written and verbal communication skills
- Ability to communicate effectively and efficiently via phone, email, and person to person.
- Capability of gathering facts accurately, analyzing causes, evaluating alternate solutions, and arriving at sound conclusions on action to be taken.
- Ability to manage multiple and/or conflicting responsibilities.
- Great attention to detail and organizational skills.
- Ability to work in a team environment.
PHYSICAL DEMANDS:
- Must be able to remain in a stationary position 75% of the time.
- Will be constantly operating a computer and other office productivity machinery, such as a telephone, calculator, copy machine, and computer printer.
- Will be communicating 75% of the time over the phone and email.
- Must be able to exchange accurate information at all times.
- Must be able to identify and assess account status and determine appropriate process.
- Will constantly work in a state-of-the-art indoor temperature controlled, sealed window office environment.
BENEFITS:
- Medical and Dental Plan with Prescription Coverage and Vision
- Competitive benefits including 401(K) includes 100% company match of the first 4%
- Paid time off days (PTO), maternity/paternity leave, and holidays
- Community involvement including Volunteer Paid Time Off (VTO)
- Tuition Assistance for your first degree
- Enjoy coming “home” to our brand new, state-of-the-art Home Office equipped with onsite fitness facility with full gym, workout classes, volleyball and basketball courts, ping-pong, disc golf course, and onsite restaurant
- Wellness programs that focus on emotional, social, spiritual, intellectual, environmental, physical, and financial well-being
- Collaborative and energetic work environment
- Professional development and promotional opportunities
- Competitive bonus programs
Here are some more reasons to choose Vanderbilt Mortgage!
- A Berkshire Hathaway Company – an integrity-based organization offering unlimited career growth
- Full-time team members have the flexibility to create their own health, dental, and vision benefits package. Vanderbilt Mortgage and Finance, Inc. provides competitive 401(k) programs, including investment options and company matching for full and part time employees after one year to help our team members achieve their financial goals. Additional benefits include paid parental leave, tuition reimbursement, Employee Assistance Programs, and more.
- Vanderbilt Mortgage and Finance Inc. is a subsidiary of Clayton of which is proud to have earned spots on the following Forbes lists: America’s Best Employers, America’s Best Employers by State, Best Employers for Diversity, Best Employers for Women.
- As part of Vanderbilt Mortgage’s commitment to Opening Doors to a Better Life, VMF is now providing paid time for Team Members to volunteer to causes that are meaningful to them through the Clayton Impact program.
- At VMF, we encourage holistic wellness with physical, nutritional, social, financial, spiritual, and occupational programs available online or in-person for team members.
- Our newly renovated Home Office campus offers an onsite restaurant, onsite fitness facility with full gym, in-person and virtual workout classes, yoga/barre studio, volleyball, and basketball courts, walking paths, and a disc golf course.
Vanderbilt Mortgage and Finance Inc. is committed to a diverse and inclusive workplace. Vanderbilt Mortgage and Finance, Inc. is an equal opportunity employer and does not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, protected veteran status, disability, age, or other legally protected status.
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