Residential Loan Closer

ConnectOne Bank • Union, NJ

12h • $80,000 - $90,000 • Hybrid

About The Position

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 as they relate to the lending function.

Requirements

• Strong “People First” interest and ability.
• Knowledge of relevant Federal and State banking regulations.
• Superior knowledge of residential loan documentation, title policies, appraisals, and individual borrower formation documents.
• Knowledge of TRID guidelines and residential mortgage products (e.g., Conventional, FHA, Jumbo).
• Knowledge of processing underwriting and/or closing procedures / federal lending regulations governing real estate lending.
• Excellent attention to detail and communication skills.
• Strong mathematical skills for balancing.

Nice To Haves

• Working knowledge of Google applications and products is preferred.
• Working knowledge of nCino platform is helpful, but not required
• Notary public for the state or NJ or NY is preferred but not required
• Bachelor’s degree is preferred, but not required.

Responsibilities

• 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, always 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 amongst the internal deal team, outside counsel and third parties (e.g., title companies and insurance agents).
• Responsible for the integrity of loan closings, due diligence, documentation, and compliance (e.g., drafting commitment letters, review of closing documents, completion of closing checklist; ensuring loan structure and terms conform to credit approval and bank policies, pre closing special conditions are satisfied, and exceptions are identified and appropriately mitigated).
• Use judgment to make decisions that are in alignment with bank policies and risk tolerance guidelines.
• Proactively identify potential risks and adverse situations that may impact the bank’s interest; communicate and/or escalate risks, pursue corrective action, and drive solutions.
• Develop and maintain positive relationships with internal and external clients (e.g., 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 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 / adequate coverage is in place 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.
• Preparing flow of funds (Closing Letter) for Bank Counsel (which includes wire break-down, 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 that all communication with clients is positive; escalate 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 closing documents.
• Coordination: Act as the primary point of contact for borrowers, loan officers, processors, and title companies to schedule closings and resolve issues.

Benefits

• World class health, vision, and dental benefits on day one
• 401k with employer match
• Hybrid work from home (depending on role)
• Employee appreciation events (team building, softball games, food truck days, etc..)
• Employee assistance programs (EAP)
• Wellness programs (flu shot, preventive care, health programs and services discounts, etc..)
• Tuition reimbursement
• Employee Discount perks
• CNOB Community Service Events

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree