Loan Closer

Loan Closer

Locations: Chicago, IL • Providence, RI

Department: Operations - Closing

Type: Hybrid Full-time

Who We Are:

Renovo Financial is a rapidly growing Chicago-based private lender and mortgage servicer working with real estate investors who acquire and renovate single and multi-family residential properties. We pride ourselves on supporting clients by providing unparalleled service, from the loan application through the payoff. Renovo's reliability and "win-win" solutions-oriented approach is just one reason why our repeat and referral rates far exceed the industry average. Renovo was honored to be named one of Crain's 50 fastest-growing Chicago companies and the 2022 + 2023 Top Workplace winner, as recognized by The Chicago Tribune, and 2023 Best Workplace by Inc. Magazine.

Position Summary:

The Closer has two primary responsibilities; to orchestrate a smooth closing on new loans & deliver excellent post-closing customer service. They are expected to zero-in on a closing date and ensure that all necessary parties are consistently updated throughout the loan application process. Post-closing, they assist their Renovo POD in ensuring the client's insurance is up to date, extensions are received, and modifications get signed in a timely manner. The Closer is empowered to ensure the client has an amazing experience, with the goal in mind that the client can't imagine a world without Renovo. This position is eligible for overtime.

Responsibilities

• Customer Service
  • Order appraisals, order title, & coordinate with insurance agent to bind insurance
  • Consistently update all parties involved in the transaction (client, attorneys, agents, title company, etc.)
  • Successfully deliver on a smooth closing experience for our borrower and the team
  • Proactively reach out to clients and vendors who have no responded to our automatic NPS surveys
• Documentation
  • Review and approve entity documentation
  • Prepare Loan Closing Package 48 hours in advance of closing
  • Review Loan Closing package to ensure it is signed correctly by all parties
  • Examine waived/marked up title per Renovo's legal counsel instructions
  • Authorize Funding for the Transaction
• Post-Closing Customer Coordination
  • Ensure all approved modifications and extensions are signed timely and appropriately
  • Follow-up on upcoming insurance expirations and get policies updated

Success Factors & Matching Measurements (Measurements to be reviewed Monthly and Bi-Annually)

• Success Measurement:
  • You are able to coordinate approximately 20 - 25 loan closings a month
• Success Measurement:
  • NPS Score: 80+ & Response rate of 60%
• Success Measurement:
  • Vendor Contact Entry: Ensure a minimum of 70% of affiliated vendor contacts are entered into the NPS Object for Purchase transactions
• Success Measurement:
  • Post-Closing Compliance – 0 Force Placed Insurance or Maturity Defaults at the end of the month

Pay: From $60,000.00 per year

At Renovo, we're building a team that reflects a wide range of backgrounds, perspectives, and skills because we believe diverse voices make us stronger. We're proud to be an equal opportunity employer and welcome applicants of all identities and experiences.