CRE Loan Closing Specialist

Description Summary

The CRE Loan Closing Specialist Sr. is responsible for initiating and driving the loan closing process, ensuring the integrity of the loan closing, due diligence, and documentation. They manage and expedite complex and concurrent processes and organize all necessary documentation to finalize complex Commercial Real Estate loan transactions. The role involves meticulous attention to detail and a thorough understanding of Commercial Real Estate loan terms, including legal concepts, collateral acceptability, and final closing conditions. Expertise in reviewing and interpreting deal structures and legal documentation, along with navigating "gray areas," is required.

• Ensures accuracy, compliance with regulations, and coordinates activities, decisions, and communications with various parties involved, such as lenders, borrowers, legal teams, and other third parties.
• Maintains strict adherence to regulatory requirements (e.g., Flood and OFAC) and industry standards (e.g., Construction Monitoring and Specialized business needs) throughout the loan closing process.
• Addresses and resolves complex lending issues that may arise during the closing process, facilitates and collaborates with various stakeholders, communicates and/or escalates risks, pursues corrective action, and drives solutions.
• Orders and reviews due diligence such as flood determinations, insurance, title commitments, and other pre-closing items, and coordinates review with respective deal team, outside counsel, and other third parties.
• Prepares closing statements, ensuring all fees are collected (e.g., appraisal fees, commitment fees, and other closing fees).
• Prepares forms necessary to book loan on system of record.
• Manages closing checklist, certifications, and closing files according to standards.
• Trains and mentors junior loan closers, sharing expertise and best practices to enhance the team's overall performance.
• Identifies opportunities to enhance efficiency and effectiveness in the loan closing process, and works with management to implement improvements where needed.
• Engages with clients, lenders, and legal teams to facilitate smooth and transparent communication throughout the closing stages.
• Affords through critical thinking and mitigates potential risks associated with commercial loan transactions, ensuring the protection of the institution's interests along with that of our fellow colleagues and borrowers.
• Implements quality control measures to guarantee the accuracy and completeness of loan documentation.
• Participates in strategic decision-making related to commercial loan operations, providing insights and recommendations based on experience and industry knowledge.

Duties And Responsibilities

As a CRE Loan Closing Specialist, Sr., your role involves overseeing and managing the entire commercial loan closing process. Responsibilities include:

• Leadership: Provide leadership and guidance to deal teams, ensuring cohesion and effective collaboration. Mitigates issues/questions being elevated to Management.
• Complex Transactions: Handle intricate and high-value commercial real estate loan transactions, with custom, complex terms and due diligence that involve construction, acquisition, bonds, tax credits, credit derivatives, participations, and syndication transactions, demonstrating an advanced understanding of complex financial structures.
• Compliance Oversight: Ensure strict adherence and serve as control point to regulatory requirements (e.g., Flood and OFAC) and industry standards (e.g., Construction Monitoring and Specialized business needs) throughout the loan closing process.
• Problem Resolution: Address and resolve complex lending issues that may arise during the closing process, facilitate and collaborate with various stakeholders, communicate and/or escalate risks, pursue corrective action, and drive solutions.
• Orders and Reviews Due Diligence: Orders and reviews due diligence such as flood determinations, insurance, title commitments, and other pre-closing items, and coordinates review with respective deal team, outside counsel, and other third parties.
• Prepares Closing Statements: Prepares closing statements, ensuring all fees are collected (e.g., appraisal fees, commitment fees, and other closing fees).
• Prepares Forms Necessary to Book Loan: Prepares forms necessary to book loan on system of record.
• Manages Closing Checklist, Certifications, and Closing Files: Manages closing checklist, certifications, and closing files according to standards.
• Training and Mentoring: Trains and mentors junior loan closers, sharing expertise and best practices to enhance the team's overall performance.
• Process Improvement: Identifies opportunities to enhance efficiency and effectiveness in the loan closing process, and works with management to implement improvements where needed.
• Client Interaction: Engages with clients, lenders, and legal teams to facilitate smooth and transparent communication throughout the closing stages.
• Risk Management: Assesses through critical thinking and mitigates potential risks associated with commercial loan transactions, ensuring the protection of the institution's interests along with that of our fellow colleagues and borrowers.
• Quality Assurance: Implements quality control measures to guarantee the accuracy and completeness of loan documentation.
• Strategic Decision-Making: Participates in strategic decision-making related to commercial loan operations, providing insights and recommendations based on experience and industry knowledge.

Basic Qualifications

• Bachelor’s Degree
• 7+ Years Commercial Loan Closing or Commercial Loan Administration
• Communication Skills: Effectively communicating with various stakeholders, including lenders, borrowers, and internal and external teams.

Preferred Qualifications

• Detail-Oriented: Meticulously checking details of the Credit Approval and Draft loan documentation to ensure all aspects of the loan closing process are accurate, error-free, and comply with policy.
• Time Management: Managing a large complex commercial loan portfolio encompassing multiple tasks and deadlines to ensure timely completion of loan closings.
• Problem-Solving: Identifying, decisioning, and resolving issues and discrepancies that may arise during the loan closing process in a proactive and efficient manner through strong critical thinking and analytical skills.
• Partner Collaboration and Category of One Service: Providing excellent service to both internal and external clients throughout the closing process.
• Technical Proficiency: Utilizing loan management software and other tools to streamline processes and maintain accurate records.
• Adaptability: Leading and adapting to changes in procedures, regulations, or industry practices to ensure ongoing effectiveness in the role.