Loan Operations SBG Loan Closing Specialist II

Overview

The Loan Closing Specialists is responsible for pro-actively coordinating all aspects of the loan closing process, acting as liaison between the Underwriter (U/W), Consumer Lenders, 3rd Party Vendors, and the Loan Processing Center for all new and renewed Consumer Loans. The position includes completing all due diligence associated with the satisfaction of approval conditions prior to the preparation of loan closing documents. These responsibilities include requesting, reviewing, and critical interpretation of all 3rd party provided documents needed to provide the "clear to close" and coordinating efforts to prepare loan closing documents for real estate and non-real estate secured loans.

• Real estate appraisals
• Valuation services
• Environmental reports
• Flood determinations
• UCC searches
• Title searches or commitments
• Insurance documents
• Surveys
• Any other documents as required by the Underwriter

What You’ll Do

• Maintains oversight of new loans and tracks work in progress.
• Utilizes conditions set and Checklists to determine due diligence requirements or specific needs for each loan type.
• Coordinates efforts to obtain required due diligence items such as:
• Title commitment / Title search
• UCC search
• Articles Resolution Evaluation
• Real estate appraisal
• Environmental questionnaire or evaluation (phase I/II)
• Flood determination
• Proof of insurance documents
• Survey
• Entity documents
• Receives and reviews due diligence items to ensure loan documents can be completed accurately and the Bank’s lien can be perfected.
• Reviews loan request to insure proper utilization of Purpose, Class, Collateral, and Industry codes for accuracy of loan documentation preparation and loan booking/boarding.
• Interacts with UW and Lender as required to insure accurate interpretation of loan closing conditions.
• Reviews application and initial loan documentation for adherence to all compliance and regulatory requirements.
• Adheres to an established follow-up methodology to support achievement of the department's Service Level Agreement (SLA) goals and individual turn time goals.
• Promptly and accurately determines when all underwriting approval conditions for loan closing have been satisfied. Takes appropriate remedial actions to resolve deficiencies and escalates questions/disputes to appropriate level when necessary.
• Reviews loan documents to insure alignment with credit approval.
• Participates in all required compliance training, as well as internal and external training programs, online training, meetings, or other education events as assigned by Loan Ops and Bank leadership.

Productivity

• Ensures all goals and departmental service standards (SLAs) are met.
• Tracks, logs, and provides daily, weekly, monthly, quarterly reporting of production statistics as defined by management.
• Manages production in times of fluctuating volumes and consistently meets production and turnaround time standards.
• Consistently meets quality and data integrity standards.
• Effectively utilizes available systems, workflow, and imaging tools.

Requirements for Success

• College Graduate Preferred.
• High School graduate or similar certificate and equivalent experience in a related field acceptable.
• 2 – 4 years’ work experience in a financial institution with a focus on due diligence and/or loan documentation.
• Strong time management and organizational skills evidenced in previous assignments.
• Demonstrates an understanding of applicable bank policies and procedures as they pertain to the satisfaction of loan closing conditions as well as vendor documents and services.
• Excellent personal computer skills with demonstrated knowledge of Microsoft EXCEL, WORD, email, etc.
• Strong verbal and written communication skills.

Conditions of Employment

• Must be able to pass a criminal background & credit check.

Pay Range

USD $38,769.00 - USD $57,876.00 /Yr.