CLA Closing Coordinator II - Woodbridge, NJ.

Key Responsibilities

• Reviews proposed loan documents for conformance with the loan approval/ commitments.
• This includes organization of the file, review of the closing documents for accuracy, assuring receipt of all required closing documentation, due diligence and compliance and satisfaction of all closing conditions and covenants.
• Is responsible for loan set-up including completion of loan input sheets, calculation of required escrows, reserves and prepaid interest, preparation of general ledger debit and credit entries and initiating wire transfers and wire verification.
• Captures and acts as a liaison with attorneys, Relationship Managers and other professionals to schedule and ensure the closings take place in a timely fashion.
• Ensures proper setup of LaserPro prepared documents and attorney prepared documents, which varies from Commercial Loans, CapEx Lines, Lines of Credit, Term Notes and occasionally, CRE construction loans.
• Immediately following all closings, the Closing Administrator coordinates post-closing items with the post closing administrator.
• Responsible for confirming that the loan was properly established on the system by Loan Operations.
• Interacts with lenders and borrowers as to the submission of all required advance documentation.
• Calculates closing advance figures.
• Reviews thoroughly the loan approval documentation. Reviews borrower’s requisition for accuracy and compliance with loan approval.
• Funding the loan documents and confirming fundings; when necessary, coordinate monthly advances with Borrower, inspecting engineer, title company and Relationship Manager.
• Performs all required due diligence for all closings and loan advances; such as confirm interest payments are current and that insurance and tax payments are all current and in good standing.
• Creates and verifies loan closing statements/ with approved closing figures; funding criteria, loan allocations.
• Consistently updates the loan closer reports and/or construction loan reports.
• Keeps the Lender updated as to the status on each loan in process.
• Reviews Loan documents for required release consideration; issue partial release letters and/or modification documents.
• Maintains the loan files on a current basis at all times; responds to customer inquiries; assists the Relationship Manager; facilitates communications with Loan Operations.
• Post closing follow-up to ensure that all required documentation is received.

Minimum Qualifications

• A High School Diploma or GED.
• 3 to 5 years of related experience.
• Extensive knowledge of commercial Loan Closings and ability to apply such knowledge.
• Ability to Communicate clearly and effectively in both and written and oral scenarios.
• Proficient with software and systems programs (Microsoft Office).
• Knowledge of LaserPro document preparation a plus.
• Ability to manage heavy workflow, resolve problems with modest supervision, attend to detail and perform arithmetic calculations.

Preferred Qualifications

• Bachelor’s degree preferred but experience can substitute.

Pay Details

• $26.15 - $32.67/hourly.
• The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, education, geographic location, internal equity, and other applicable business and organizational needs.