Mortgage Closer

Mortgage Closer

Role Summary The HELOC Loan Closer is responsible for the most compliance-intensive stage of the loan lifecycle — from clear-to-close issuance through the rescission period and final funding authorization. This role owns the accuracy and completeness of the closing documents, the preparation and delivery of the closing package, the coordination of the signing appointment, the management of the three-business-day right of rescission period, and the issuance of the funding authorization. The Closer is also the last line of defense against closing document errors and regulatory timing violations before a single dollar is disbursed.

Core Responsibilities

• Receive CTC notification from underwriting and initiate the closing process — confirming all PTD conditions are cleared, the final credit review is complete, and the file is ready for closing document preparation.
• Prepare the Closing Documents using the credit union's approved doc prep system, ensuring all fee disclosures, loan terms, HELOC draw period and repayment terms, and APR calculations are accurate and consistent with the approval.
• Coordinate the closing appointment — scheduling with the member, the closing attorney or notary, and any title company representative, and confirming logistics including location, required identification, and documents to bring.
• Prepare the complete closing package including the Note, Deed of Trust or Mortgage, HELOC Agreement, Right of Rescission notices (two copies per vested party on primary residences), Truth-in-Lending disclosure, Settlement Statement, and all required state-specific documents.
• Review the executed closing package upon return from the signing appointment — verifying that all documents are signed, dated, and notarized correctly, that no terms have been altered, and that the Right of Rescission notices were executed by all required parties.
• Track the right of rescission period with precision — calculating the correct expiration date accounting for all non-business days (Sundays and federal public holidays) and maintaining a documented confirmation that the rescission period has expired before any funding authorization is issued.
• Complete the final Verification of Employment (final VOE) confirmation on the day of or immediately before funding — documenting the date, time, employer contact, and employment status confirmed, and recording the result in Encompass.
• Issue the funding authorization memo upon completion of all pre-funding checklist items — confirming to the credit union's funding team that the file is clear to fund, with all conditions met, rescission expired, and no outstanding issues.
• Verify wire instructions through an independent phone call to the title company or closing attorney using a confirmed phone number from the credit union's approved vendor list — never relying on emailed wire instructions alone.
• Compile and deliver the post-closing package according to the credit union's post-closing checklist and document imaging standards, meeting the required delivery deadline.
• Ensure the completed loan file is imaged and indexed in the credit union's document management system in compliance with the required naming convention and stacking order.

Regulatory & Compliance Responsibilities

• Maintain expert-level knowledge of TILA — Right of Rescission — including the definition of business days for rescission purposes, the two-copy-per-vested-party requirement, and the three-year extended rescission period triggered by improper disclosure.
• Identify the correct rescission applicability for every file — right of rescission applies to primary residences, does not apply to investment properties or second homes, and requires specific handling for mixed-use properties.
• Understand the conditions under which a borrower may request to waive the right of rescission and the escalation process to obtain approval.
• Ensure that closing documents in attorney states are prepared or reviewed by the required licensed attorney and that all state-specific required documents are included in the closing package.
• Comply with wire fraud prevention protocols — verify all wire instructions by independent telephone call, document the verification in the file, and escalate any last-minute wire instruction change as a potential fraud event.
• Maintain HMDA data accuracy for closing-stage fields — actual closing date, loan amount, and final rate spread — ensuring Encompass data is updated to reflect the consummated loan terms.

Required Qualifications

• Minimum 2 years of mortgage closing experience, with direct experience closing home equity products strongly preferred.
• Expert knowledge of TILA Right of Rescission requirements
• Experience preparing and reviewing mortgage closing packages including notes, mortgages/deeds of trust, HELOC agreements, Settlement Statements, and state-specific closing documents.
• Demonstrated knowledge of wire fraud prevention protocols — call-back verification, wire instruction confirmation, and BEC (Business Email Compromise) awareness.
• Working knowledge of Encompass LOS including milestone management, eFolder organization, and funding authorization workflows.
• Ability to calculate rescission expiration dates accurately for any signing date — accounting for Sundays and all federal public holidays — without error.
• Strong organizational skills and the ability to manage a closing pipeline of 40 or more files simultaneously while maintaining zero-defect compliance on every file.

Preferred Qualifications

• Credit union closing experience — familiarity with NCUA examination environment and member-relationship service standards.
• Experience closing loans in attorney states — New York, Massachusetts, Georgia, South Carolina, Virginia — including coordination with closing counsel.
• Experience with Remote Online Notarization (RON) platforms and eClosing workflows.
• Knowledge of Texas home equity closing requirements

Performance Standards

• Zero right of rescission errors — every rescission expiration date calculated correctly, every file funded only after confirmed rescission expiration, every time.
• Zero wire fraud incidents — all wire instructions verified by independent telephone call-back before any funding authorization is issued.
• Closing Package Documentation accuracy rate of 100% — no re-disclosures required due to Closer error.
• Post-closing package delivery within the credit union's required timeframe on 100% of funded files.
• Final VOE completed and documented on 100% of files before funding authorization is issued.
• Zero funded files with missing rescission notices, unsigned closing documents, or unrecorded deeds at the 30-day post-closing review.

Equal Employment Opportunity

We are an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, gender identity, or any other characteristic protected by applicable federal, state, or local law. This job description is intended to describe the general nature and level of work being performed. It is not an exhaustive list of all responsibilities, duties, and skills required. Management reserves the right to modify, add, or remove duties and to assign other duties as necessary.