Closing Specialist III

Lendistry

Lendistry is an Equal Opportunity/Affirmative Action Employer. We consider applicants without regard to race, color, religion, age, national origin, ancestry, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, veteran status, disability, genetic information, or membership in any other group protected by federal, state, or local law. If you need assistance or accommodation due to a disability, you may contact us at hr@lendistry.com Lendistry does not accept unsolicited resumes from recruiters, employment agencies, or staffing firms. To conduct business with Lendistry, a Master Services Agreement (MSA) must be executed and confirmed prior to submitting any information relating to a potential candidate. Without a signed MSA, Lendistry shall not be responsible to any individual or entity for any payment relating to any form of fee or compensation.

A Day in the Life

The Closing Specialist III is responsible for funding/closing transactions in cooperation with as well as liaising between Internal partners, customers and third parties on a transactional basis. Some travel may be required.

Loan Closing and Documentation

• Oversee the preparation, review, and execution of SBA loan closing documents, ensuring compliance with SBA Standard Operating Procedures (SOP).
• Identify and resolve discrepancies in documentation, coordinating with borrowers, attorneys, and third-party vendors to address issues.
• Make impactful decisions regarding document completeness and readiness for closing, escalating complex cases when necessary.

Compliance and Risk Management

• Conduct thorough reviews of loan files to ensure adherence to SBA and regulatory requirements, making real-time decisions to correct deficiencies.
• Evaluate and approve loan conditions prior to closing, including third-party reports, title policies, and insurance documentation.
• Implement strategies for fraud detection and prevention during the closing process.

Process Optimization

• Collaborate with lending and underwriting teams to streamline workflows, minimizing delays in the closing process.
• Develop and refine documentation checklists and tracking systems to improve accuracy and efficiency.
• Leverage technology to automate routine tasks, such as compliance checks and document generation.

Third-Party Coordination

• Manage relationships with third-party service providers, including title companies, appraisers, and attorneys, to ensure timely delivery of required documentation.
• Make informed decisions about handling third-party delays, such as moving applications to suspense status when warranted.

Borrower Communication and Experience

• Serve as the primary point of contact for borrowers during the closing phase, providing clear guidance on requirements and timelines.
• Proactively communicate updates and resolve borrower concerns to ensure a seamless closing experience.

Leadership and Training

• Act as a mentor and resource for junior team members, providing training on SBA documentation standards and closing procedures.
• Stay updated on SBA SOP changes and industry best practices, sharing insights with the team to enhance overall performance.

Post-Closing Quality Control

• Conduct post-closing reviews to ensure loan files are audit-ready and compliant with SBA requirements.
• Address any deficiencies or errors identified during post-closing audits, implementing corrective actions as needed.

Compensation

The US base salary range for this full-time position is $80,000- $95,000 annually. Our salary ranges are determined by role, level, and location. The range displayed on each job posting reflects the minimum and maximum base salary for new hires for the position across all US locations. Within the range, individual pay is determined by multiple factors like job-related skills, experience, and state of residence. Your recruiter can share more about the specific salary range during the interview process. Please note that the compensation details listed in US role postings reflect the base salary only, and do not include any variable compensation elements.

Physical Requirements

This is a stationary position that requires frequent sitting (approximately 95%), repetitive wrist motions, grasping, speaking, listening, close vision, and the ability to adjust focus. It also may require occasional standing, lifting, carrying of 20lbs or less, walking, kneeling, bending/stooping, twisting, pulling/pushing, and reaching above the shoulder. Employees in this position must be physically able to efficiently perform the essential functions of the position.