Loan Closer

Renovo Financial; Chicago (IL); Hybrid; USD 60,000 - 90,000; Full time

Benefits offered by this job

401k with employer match

Paid time off

Medical, dental, vision benefits

Job summary

Renovo Financial in Chicago is seeking a Closer to orchestrate smooth loan closings and deliver exceptional post-closing service to real estate investor clients. You will drive timelines, coordinate with clients, attorneys, title agents, and vendors, and ensure insurance is current and modifications are executed promptly.

The role emphasizes high energy, proactiveness, accuracy, and leadership within the POD.

Responsibilities

• Coordinate loan closings and ensure timely updates to all parties involved in the transaction.
• Prepare Loan Closing Package 48 hours in advance of closing.
• Review Loan Closing package to ensure correct signatures by all parties.
• Post-Closing: ensure modifications and extensions are signed timely and insurance updates are completed.
• Follow up on insurance expirations and renew as needed.

Skills

Customer Service

Documentation

Closing coordination

Post-closing coordination

Vendor coordination

Job description

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

Behavioral Characteristics

• Great Attitude: You always come into work with a positive attitude and a “I will find a way to get it done” mentality
• Proactiveness: The Closer proactively addresses all functions of their closing and post-closing responsibilities.
• High-energy: Your enthusiasm motivates everyone you collaborate with.
• Leadership: You emulate positive behaviors for the entire POD and lift up those around you.
• Accuracy: The Closer is vigilant in the accuracy of all items they touch (ex. Pre-Close checklist and Client Communication).

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

Renovo Financial is an equal opportunity employer. Renovo Financial does not discriminate in any employment actions (including hiring decisions) with regard to race, color, religion, national origin, citizenship status,ancestry, age, sex (including sexual harassment), sexualorientation, gender identityand expression, marital status, disability, military status or unfavorable discharge from military service or any other characteristic protected by law.

Renovo offers full-time employees a 401k plan with employer matching, paid time off, observance of company paid holidays, medical, dental, vision benefits for employees and their dependents, voluntary benefit offerings (life insurance and short-term disability), pre-tax FSA, commuter and dependent care benefits, maternity/paternity, hybrid work schedule, and more.