Commercial Loan Closing Administrator

Responsibilities

• Function as a liaison between portfolio managers, underwriters, escrow, title, closing agents, attorneys, and all interested parties to coordinate closing and funding activities.
• Collaborate with loan documentation department and loan funding department throughout the process.
• Collaborate with customers, outside counsel & Portfolio Managers/Underwriters to obtain all necessary documents needed for closing and funding.
• Communicate with commercial lending officers, portfolio managers/underwriters or other office personnel, attorneys.
• Ensure all pre-funding requirements are met.
• Collaborate with Outside Counsel, lending staff, credit supervision, and compliance, to ensure compliance with all applicable policies and procedures in support of Loan Closing.
• Ability to troubleshoot closing related issues.
• Read loan documents to ensure consistency with our approval.
• Set up loan documentation and funding request onto the Bank’s internal loan closing/funding system.
• Prepare outside counsel consistency letter.
• Cook up the receipt and distribution of due diligence items.
• Maintain and manage the closing checklist to ensure that closing counsel and internal parties have received all required documents to review and close the loan.
• Maintain a critical schedule and monitor all parties involved in the closing/funding process to ensure deadlines are met.
• Maintain checklists of client requirements.
• Coordinate with portfolio managers/underwriters, borrowers, third party agencies and internal departments to make sure items are submitted in a timely manner related to closing.
• Maintain loan files during the closing process.
• Call back loan folders to ensure files are completed post-closing.
• Provide necessary items and loan documents to loan closing department post-closing.
• Provide necessary items for law firms to prepare closing binders.
• Pursue the resolution of various issues during the due diligence/closing process.
• Communicate East West Bank’s due diligence requirements with borrowers such as insurance requirements.
• Prepare internal closing fee schedule as applicable.
• Provide information needed to funders and our Escrow agents for closing statements.
• Ensure proper internal approvals obtained during each phase of the closing/funding process.
• Follow-up on receipt of the original executed loan documents, as well as any other post-closing obligations.
• Monitor internal third-party costs throughout the closing process.
• Ensure payment of third-party consultants (including legal) at closing.

Qualifications

• Bachelor’s degree in finance or accounting preferred or equivalent experience.
• 2+ years of related experience in commercial loan documentation, funding and closing.
• Strong data entry skills and accuracy required.
• Working knowledge of rules, regulations and policies concerning banking services, particularly with commercial lending and related loan documentation.
• Ability to prioritize and multi-task in a high-pressure fast paced environment.
• Knowledge of and ability to interpret LaserPro or outside counsel-prepared commercial loan documents is a plus.
• Proficient in Microsoft Excel.
• Knowledge of all aspects of loan documentation specifically those prepared by Attorneys.
• Effective Professional interpersonal, written, and verbal communication skills.