Commercial Loan Closing Administrator

Major Duties And Responsibilities

• Prepares the loan file and closing documents for accuracy and completion of underwriting requirements prior to closing.
• Prepare and review commitment letters for accuracy of loan terms and requirements; ensure that all underwriting requirements have been satisfactorily resolved.
• Review closer pipeline reports weekly to manage flow of anticipated closings. Keep information in the origination system current so the pipeline reports are accurate.
• Use pre-closing and post-closing checklists, to ensure accuracy of closing documents.
• Assimilate loan documents in proper order to prepare for actual closing.
• Communicate with borrowers and realtors to schedule closings based on real estate contract dates for purchase transactions; file completeness for refinance transactions; and overall workload of processors and/or closing assistants.
• Update scheduled closing date in loan origination system as soon as possible.
• Initiates funding for loan closings via wire transfer, bank check or credit memo.

Maintain Compliance

• Maintains current knowledge and compliance with all regulatory BSA/AML and OFAC requirements and with all other bank policies, procedures and regulations.