Commercial Real Estate Loan Closer - Plymouth Meeting, PA

Responsibilities

• Works with Operations Unit Manager, Real Estate Finance Risk Manager, Real Estate Finance Processor, and Relationship Manager to set up new commercial real estate and construction loans, and request new loan numbers.
• For complex construction loans, prepares new loan set-up data sheets and reviews new construction loan information in the Pipeline section of the construction loan system.
• Sets up loan budgets; reviews data input for accuracy and ensures new loan set-up line-item budgets align with approval.
• Understands and implements required primary and subaccount data entry input.
• Reviews essential documentation to ensure the original executed Note is received prior to funding.
• For all Real Estate Finance construction loans, ensures pre-closing, ongoing draw disbursement funds are reserved with the Finance Department Funds Manager and coordinates actual funding with the Loan Operations Accountant at closing and for all subsequent draws.
• Sets up construction loan disbursement files; sets up new borrower portfolio files or ensures new loan information is included in existing portfolio files.
• Ensures all Letters of Credit are properly accounted for on the Construction Loan System Budget and tracks the respective Township Release(s) for each Letter of Credit.
• Prepares and presents disbursement documentation from the system, monitors, and balances disbursement reports.
• Works with Operations Unit Manager and Real Estate Finance Reporting and Risk Management Unit Manager to ensure accurate set-up and administration of all loan Syndications/Participations – In or Out.
• Tracks escrow account information, ensuring complete accuracy of account details, and maintains the integrity of the system data.
• Reviews monthly interest billing statements for accuracy and monitors interest reserve adequacy on all accounts; ensures accurate billing if interest reserves are exhausted.
• Alerts management to process and procedural changes concerning daily, monthly, and continuing responsibilities associated with managing and controlling construction loan information interfaced with bank-wide Accounting and Finance systems.
• Coordinates specific job activities with the Real Estate Finance Construction Loan Processor to ensure adequate backup.
• Provides excellent customer service to clients and responds to general inquiries on loan status.

Requirements

• Bachelor’s Degree in accounting, finance, or related field; OR comparable experience in construction loan servicing or a commercial banking position.
• Knowledge of transaction data entry and understanding of debits/credits, as well as proofing and balancing accounts.
• Working knowledge of general ledger automated systems.