Job Details
Job Overview
The Sr. Loan Closing Coordinator is responsible for processing commercial loan closing packages while ensuring they meet policy and compliance guidelines. Review loan approvals and gather due diligence items necessary to document commercial and syndication/participation loans. Work closely with internal and external customers to document, coordinate and fund a commercial loan transaction.
Job Description
Responsibilities include but are not limited to:
- Lead in procuring documentation and information essential to loan application processing and ongoing portfolio management.
- Review loan approvals for accuracy, and coordinate revisions as necessary.
- Assist Relationship Managers with providing superior customer service to existing customers by resolving issues and providing accurate and timely information.
- Engage Attorney or Doc Prep team to prepare documents for closing.
- Collect due diligence needed to close loans in accordance with approval.
- Maintain and utilize a closing checklist to ensure all required items are received and all steps have been taken. Act as liaison with attorneys and lenders and coordinate closing dates.
- Obtain all necessary Insurances and ensure sufficient coverage requirements are met prior to closing.
- Monitor pipeline reports to ensure timely closings.
- Carefully review loan documents for closing to ensure accuracy; close loans when necessary.
- Review Title Commitment and Final Title Policy for accuracy.
- Clear any documentation and insurance exceptions.
- Communicate with Lenders any issues that arise prior to closing.
- Order items necessary to complete the file.
- Disburse loan proceeds at closing.
- Prepare complete booking packages post-closing to provide booking team with everything. required for input to loan system.
- Complete ad-hoc assignments as required.
RequirementsRequired Skills:- Familiarity and facility with closing concepts, such as pro-rata, fee types, stub interest.
- Detailed-oriented and possess excellent organizational, follow-up, and customer service skills.
- Must possess ability to work independently, have excellent problem-solving skills.
- Must be proficient with word processing and spreadsheet software programs.
- Excellent written and oral communication skills.
- Teamwork-oriented approach to ensure the fostering of a positive working environment and culture.
Required Experience:- High School Diploma GED.
- Minimum of 5 years commercial lending processing/closing experience.
Preferred Experience:- Knowledge of Syndication/Participation, Commercial Real Estate and C I loan documentation.
- Minimum of 7 years commercial lending experience.