Residential Loan Closer

About this role

The Residential Loan Closer is directly responsible for the integrity of loan closing, due diligence, documentation, funding, and booking review for assigned loans. The Closer ensures that loan structure and terms conform to the credit approval and bank policies, that all closing requirements have been satisfied, and that all exceptions are identified and appropriately mitigated. The position requires an understanding of policies and procedures related to the lending function.

• Support the Bank’s “People First” focus and rules of engagement—maintaining a professional demeanor, working as an active member of the CNOB team, providing all clients excellent service, and striving to make CNOB a better place to be.
• Manage assigned pipeline and process approved loans for closing and funding of Residential Mortgages (e.g., Conventional, FHA, Jumbo), Consumer Loans, Renewals, Extensions, and Modifications.
• Initiate and drive the overall loan closing process—develop and maintain internal and external relationships; coordinate the activities, decisions, and communications among the internal deal team, outside counsel, and third parties (e.g., title companies and insurance agents).
• Ensure the integrity of loan closings, due diligence, documentation, and compliance—draft commitment letters, review closing documents, complete the closing checklist; confirm loan structure and terms conform to credit approval and bank policies, pre‑closing special conditions are satisfied, and exceptions are identified and properly mitigated.
• Use judgment to make decisions that align with bank policies and risk tolerance guidelines.
• Proactively identify potential risks and adverse situations that may impact the bank’s interests; communicate and/or escalatie risks, pursue corrective action, and drive solutions.
• Develop and maintain positive relationships with internal and external clients—including client‑facing activities such as conference calls, correspondence, pre‑ and post‑closing meetings.
• Generate reports to monitor loan closing pipeline, loan closing target dates and deadlines; ensure the loan origination system (nCino) is updated and correct at all times.
• Order and/or review title commitments, flood search, appraisals, and property searches; coordinate receipt of all required third‑party reports.
• Review and confirm insurance certificates or adequate coverage prior to closing (e.g., property/hazard insurance, liability, builder’s risk, flood & contents).
• Prepare in‑house loan documents for new loans, modifications, renewals and/or extensions on the CSI system.
• Review organizational documents to determine compliance with Patriot Act and Beneficial Ownership.
• Prepare tax and insurance escrow analysis as required; verify escrow amount to be collected at closing.
• Prepare flow of funds (Closing Letter) for Bank Counsel, including wire breakdown, fees, etc.; review Settlement Statements and prepare funding wires.
• Prepare Booking sheet and coordinate the timely booking and funding of scheduled loan closings with the Booking & Administration Team.
• Ensure that all loans are closed without material, administrative or compliance exceptions.
• Follow up and clear loan documentation exceptions, approved post‑closing documentation, and filed and recorded documents.
• Ensure all proper disclosures are provided and compliance with residential mortgage regulations (e.g., TRID guidelines, fair lending) is met.
• Ensure all communication with clients is positive; escalated any issues as needed to the appropriate party; take ownership and follow daily as necessary until conclusion.
• TRID Compliance:
  Prepare and issue accurate closing disclosures within regulatory timelines, monitoring borrower receipt to meet the 3‑day rule.
• Document Preparation:
  Assemble and verify loan closing packages, including notes, mortgages, deeds of trust, and specific investor requirements.
• Balancing and Funding:
  Reconcile final loan figures, fees, and disbursements with closing agents/title companies, and authorize funds for transfer.
• Condition Clearance:
  Review loan files to confirm all underwriting conditions are satisfied prior to generating…