A mortgage closer is responsible for interviewing those who have recently purchased homes and preparing the documents needed for the mortgage closing. A bachelor's degree is not required for this job; mortgage training courses can help you gain the necessary skills and experience, but most training is provided on the job. A good background in finance and some legal experience can help you become a mortgage closer, but don't expect to be hired on a permanent basis until you have completed at least one year of work experience. Mortgage closing is at its peak as an industry when interest rates are low so if possible, look for a job when rates are approaching rock bottom.
To become a mortgage closer, you need a high school diploma at an absolute minimum. It is highly unlikely that you would be considered for a mortgage closing position in any financial institution without this qualification. You would be well served to pursue a degree in accounting, finance, or paralegal studies, but this is not an absolute necessity. If you decide not to go to college, a number of courses available in community colleges and online can teach you the necessary skills.
Most mortgage closers are taught the specifics of their jobs in company training programs. The mortgage closing process can be very complex under some circumstances; in some jurisdictions, the actual closing can only be performed by a lawyer. The closer may assist the attorney to research the title and help clear an encumbrances, if needed. There are many regulations that you must learn to become a mortgage closer, and some positions are only open to those who understand specific loan processes.
In most cases, you need to have at least 12 months work experience in the mortgage industry to become a mortgage closer. Many loan professionals start in entry-level positions, such as office clerk or assistant to a mortgage broker. Mortgage employment agencies are available in many locations to help interested individuals find industry jobs that fit their experience and interests. Once you have been hired, you should continue to learn about the mortgage industry, as rules and regulations change frequently and often differ between regions.
