IDL Closing Administrator

About the role

This position provides para-professional support to the Loan Closing Department in connection with facilitating the closing of commercial and business banking loans. Primary duties include handling of pre-closing loan due diligence ordering, analysis and final review and documentation oversight support under the supervision of the Closing Administrator Team Lead.

Responsibilities

• Review of executed term sheets and credit approval documents to determine due diligence requirements and prepare pre-closing due diligence checklists for Loan Documentation Specialist use and external closing agent requirements.
• Review of title insurance binders, supplemental searches, surveys, metes and bounds descriptions and entity documents to ensure conformance with the loan approval, conditions and requirements of the bank's term sheets and checklists for closing.
• Compliance and/or final review of form loan documentation based on the loan requirements and due diligence results.
• Communicate with Loan Documentation Specialists, post-closing department personnel, loan officers, Bank management, outside attorneys and title agents regarding closing requirements, problems and deficiencies with closing requirements and loan status.
• Performs follow up to ensure outstanding due diligence items are collected, corrected, and completed prior to clearing loans for closing.
• Review and approve loan modification agreements, lien release agreements, subordination agreements and various other loan related documents at the discretion of the Closing Administrator Team Lead.
• Work with commercial credit to create outstanding post-closing loan documentation requirements and deadlines, when necessary.
• Review and approve post-closing submissions.

Requirements

Banking documentation and due diligence requirements skills and working knowledge and understanding of terms and concepts in specialized areas, including real estate, mortgage, commercial law, estates and trusts and legal transactions.

Exceptional drafting and proof-reading skills.

Proficiency with MS Word and general knowledge of Excel.

Must be extremely detail oriented with excellent written, verbal, and interpersonal skills.

Well organized and efficient, and able to prioritize, multi-task and meet multiple deadlines.

Ability to multitask, work independently, give direction to team members, and handle a fast-paced work environment.