Commercial Loan Closing Specialist I

About the role

The Commercial Loan Closing Specialist I plays a crucial role in the post-closing activities for commercial loans. They validate loan documents, perform due diligence, track and follow up on outstanding executed loan packages, prepare necessary payments, and ensure all documentation is delivered for booking and perfection.

Responsibilities

• Validates proper execution of loan documents before processing initial loan funding.
• Performs due diligence activities for commercial loans and effectively administers post-closing activities.
• Reviews all reports and documents for accuracy & sufficiency according to bank policy and regulatory requirements.
• Identifies discrepancies and issues, facilitates resolution and takes corrective actions.
• Tracks and follows up for timely receipt of outstanding executed loan packages from the lender.
• Prepares all necessary payments to third party vendors on each loan transaction.
• Delivers timely recordable documents to the required municipality for lien perfection.
• Establishes and books ticklers for all trailing documents, exceptions and ongoing tickler documents (i.e. UCCs, insurance, flood, etc.) to the tracking system.
• Ensures all trailing documents are ultimately received (i.e. Final Title Policy, Title Opinions, Recorded Deeds/Mortgages, UCCs, etc.).
• Performs review of all closed loan packages to ensure proper execution of documentation.
• Organizes scanned loan file and executes storage procedures for supporting documents.
• Updates status queue for delivery of loan for booking.
• Responsible for ongoing monitoring and maintenance of documentation exception reports.

Requirements

• Advanced skills in Computer and Microsoft Office
• Able to effectively and persuasively express self, using language and grammar in a professional manner
• Able to plan, schedule and organize professional schedule to achieve goals within or ahead of established time frames
• Able to provide a high level of interactive service to others, building relationships and addressing identified needs
• Able to analyze and record detailed information and produce accurate, high quality work products
• Able to research, analyze, identify viable options, draw sound conclusions, and present findings
• Knowledge of financial covenants, business entities, and standard loan products
• Able to manage and organize a high volume of documents
• Able to read, analyze and interpret commercial loan documents
• Able to perform accurate calculations and transactions

Qualifications

• 1 or more years of experience in a related role working with commercial loan products, structures and/or documentation
• Experience using relevant banking and document storage software applications preferred
• High school diploma or GED required
• Bachelor’s degree or equivalent combination of education and experience preferred