What does a Closing Coordinator do?
In the real estate industry, a closing coordinator is in charge of coordinating the final stages of a real estate deal, ensuring efficiency and smooth transaction. Among their responsibilities include preparing and processing legal documents, liaising with the buyer and seller, managing timelines and payment plans, and ensuring that both parties adhere to the terms of the agreement. Moreover, a closing coordinator must maintain an active communication line with staff, answering their inquiries, and assisting them as needed.
Closing coordinator responsibilities
Here are examples of responsibilities from real closing coordinator resumes:
- Manage scheduling loans for closing, handle insurance review, verify wire transfer, register and transfer loans with MERS.
- Endorse VA and HUD mortgage insurance, paid premiums and send documents to proper personnel.
- Audit loans purchase for GNMA, FNMA & FHLMC to ensure they meet their guidelines.
- Facilitate processors in getting FHA close loan packages out to FHA to meet the insurance deadlines.
- Review of foreclosure deeds for correctness including vesting, recording information, and notary acknowledgment.
- Organize date into TSS and compose title binder for mortgage processing.
- Execute HUD's and other closing documents on behalf of the REO seller.
- Request all inspections, lien letters, payoffs, surveys and estoppel letters.
- Respond to phone calls and e-mails from dealers, DMV's and customers.
- Clear vehicles in system once paperwork is received back from the California DMV.
- Reviewed/Approve conveyance documents, payoffs, short sale documents, smoke/co, and commission statements.
- Open new files, learned and enter data into TSS settlement system, and reception duties.
- Prepare contractor's affidavits, satisfactions for private mortgages, prepare quit claim deeds, warranty deeds.
- Coordinate and assign all schedule to close Texas FHA, VA, trust and manufacture loans to attorney closer.
- Perform research on investor loans to assess compliance with FNMA and FMAC guidelines as well as internal policies and procedures.
Closing coordinator skills and personality traits
We calculated that 23% of Closing Coordinators are proficient in Customer Service, Escrow, and HOA. They’re also known for soft skills such as Communication skills, Math skills, and Organizational skills.
We break down the percentage of Closing Coordinators that have these skills listed on their resume here:
- Customer Service, 23%
Maintained good client relations by delivering quality customer service and developing effective solutions in response to challenges inherent in market conditions.
- Escrow, 8%
Assist Subscription Services Manager in organizing, troubleshooting, recording and processing investor subscriptions and escrow deposits.
- HOA, 5%
Prepared HUD with title fees and scheduled mobile signing, also ordered HOA resale packages and payoff for any delinquent HOAS.
- HUD-1, 5%
Examined all incoming legal documents & HUD-1 Settlement Statements for accuracy & compliance with industry & investor regulations/conditions.
- Lender Approval, 5%
Prepared HUD-1A Settlement Statements for lender approval and made necessary revisions.
- Settlement Statements, 5%
Prepared Settlement Statements for refinance and purchase transactions and conducted closing along with notarizing the closing package.
Most closing coordinators use their skills in "customer service," "escrow," and "hoa" to do their jobs. You can find more detail on essential closing coordinator responsibilities here:
Communication skills. To carry out their duties, the most important skill for a closing coordinator to have is communication skills. Their role and responsibilities require that "financial clerks should be able to explain policies and procedures to colleagues and customers." Closing coordinators often use communication skills in their day-to-day job, as shown by this real resume: "update reo system with any communication and direct action in our internal communication platform. "
Math skills. Many closing coordinator duties rely on math skills. "the job duties of financial clerks includes calculating charges and updating financial records.," so a closing coordinator will need this skill often in their role. This resume example is just one of many ways closing coordinator responsibilities rely on math skills: "run excel reports to assist management with daily statistics maintain attendance logs contact notaries and verify status of loan closings"
Organizational skills. This is an important skill for closing coordinators to perform their duties. For an example of how closing coordinator responsibilities depend on this skill, consider that "financial clerks must be able to arrange files so they can find them quickly and efficiently." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a closing coordinator: "conducted data entry for confirming closings utilized professional customer service, strong organizational skills, tact and diplomacy. ".
The three companies that hire the most closing coordinators are:
- The Orchard20 closing coordinators jobs
- D.R. Horton12 closing coordinators jobs
- PulteGroup7 closing coordinators jobs
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Compare different closing coordinators
Closing coordinator vs. Loan specialist
A loan specialist is in charge of processing loans to make transactions easier for the clients. They usually work in banks, lending firms, and other financial institutions. One of their primary responsibilities is to guide clients to understand what program works best for them, assist in filling out forms, gathering requirements, and verifying authenticity. There are also instances where a loan specialist must discern whether a client can uphold financial obligations using the information collected. Furthermore, it is also their responsibility to produce and submit reports to creditors or lenders.
While similarities exist, there are also some differences between closing coordinators and loan specialist. For instance, closing coordinator responsibilities require skills such as "hoa," "hud-1," "lender approval," and "settlement statements." Whereas a loan specialist is skilled in "financial statements," "outbound calls," "loan payments," and "foreclosure." This is part of what separates the two careers.
Loan specialists tend to make the most money working in the finance industry, where they earn an average salary of $48,154. In contrast, closing coordinators make the biggest average salary, $45,518, in the finance industry.loan specialists tend to reach similar levels of education than closing coordinators. In fact, loan specialists are 1.7% more likely to graduate with a Master's Degree and 0.4% less likely to have a Doctoral Degree.Closing coordinator vs. Loan services representative
A loan service representative is responsible for communicating and interacting with clients and serves as a back-up or reliever in a company. They are the first person that the client must go through if they want to apply for a loan. Loan representatives monitor and ensure that all data and information is properly documented using a loan processing system. Also, they are the ones who inspect and verify if a company is complying with the transaction rules as well as the loan procedures and regulations.
In addition to the difference in salary, there are some other key differences worth noting. For example, closing coordinator responsibilities are more likely to require skills like "escrow," "hoa," "hud-1," and "lender approval." Meanwhile, a loan services representative has duties that require skills in areas such as "loan payments," "outbound calls," "escrow accounts," and "ach." These differences highlight just how different the day-to-day in each role looks.
Loan services representatives earn a lower average salary than closing coordinators. But loan services representatives earn the highest pay in the finance industry, with an average salary of $53,142. Additionally, closing coordinators earn the highest salaries in the finance with average pay of $45,518 annually.loan services representatives earn similar levels of education than closing coordinators in general. They're 0.5% more likely to graduate with a Master's Degree and 0.4% less likely to earn a Doctoral Degree.Closing coordinator vs. Mortgage service specialist
A Mortgage Service Specialist is an expert in mortgage administrative aspects. They review and verify loan application information, file borrower information, and process paperwork with the lending bank. They also authorize and recommend personal and commercial loans for approval. Math skills are necessary for this job for accuracy in calculating both the principal and interest amounts. They should also develop skills in handling transactions, foreclosing loans, communication, attention to detail, and customer service.
There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, a closing coordinator is likely to be skilled in "escrow," "hoa," "hud-1," and "lender approval," while a typical mortgage service specialist is skilled in "escrow analysis," "inbound calls," "foreclosure process," and "real estate."
Mortgage service specialists earn the highest salary when working in the finance industry, where they receive an average salary of $37,778. Comparatively, closing coordinators have the highest earning potential in the finance industry, with an average salary of $45,518.When it comes to education, mortgage service specialists tend to earn similar degree levels compared to closing coordinators. In fact, they're 0.8% more likely to earn a Master's Degree, and 0.4% more likely to graduate with a Doctoral Degree.Closing coordinator vs. Mortgage loan specialist
Also called a loan officer, a mortgage loan specialist assists clients in finding the appropriate financial aid for homes and other properties. Mortgage loan specialists look for new applicants, secure the right loans, assist with the documentation, and supervise the financing process. They collect and review the financial information of their clients for loan grant eligibility. It is important that they develop skills in financial processes, customer service, time management, and communication.
Types of closing coordinator
Updated January 8, 2025
