Commercial Loan Closer

ACG Resources

Job Ref: 12727

 

The Commercial Loan Closer will support the Bank’s commercial lending program by handling the necessary transactions needed to close and book approved loans.

Key Responsibilities

  • Responsible for managing and administering a portfolio of loans from origination through to settlement and funding in accordance with Bank policies, procedures, and regulatory requirements.
  • Analyzing internal bank loan approvals to determine required due diligence and documentation for each loan transaction.
  • Ordering all searches including flood and reviewing to ensure compliance with bank policy,  procedures and regulatory requirements;
  • Ensuring all collateral evaluations are ordered and reviewing of same to clear issues;
  • Reviewing and ensuring all required insurance including flood is sufficient and in compliance with regulations;
  • Preparation of internal pre-closing and post-closing checklist;
  • Acting as liaison with lender, bank counsel and title companies;
  • Reviewing loan documentation to ensure compliance with loan approval and policy and ensuring that all standard provisions are included and are not compromised;
  • Coordinating receipt of closing requirements with internal departments, lender, bank counsel, borrower, and borrower’s counsel;
  • Confirming that all conditions within the approval have been met and scheduling closing;
  • Preparing Closing Letter for Bank Counsel which includes wire break-down, fees, etc., reviewing Settlement Statements and preparing funding wires;
  • Preparing Booking sheet and reviewing loan after it is booked into the system of record;
  • Ensuring that all loans are closed without material, administrative or compliance exceptions;
  • Following up and clearing loan documentation exceptions, approved post-closing documentation, and filed and recorded documents.
  • Maintain pipeline and process approved loans in a timely manner.
  • Ensure that all communications with clients are positive. Escalate any issues as needed to the appropriate party, and taking ownership and following up on a daily basis as necessary until conclusion.

Knowledge

  • Use of superior knowledge of commercial loan documentation, title policies, appraisals, environmental assessments and entity formation documents;
  • Knowledge of various federal regulations including Bank Secrecy Act, Community Reinvestment Act, Americans with Disabilities Act, Right to Financial Privacy Act, Gramm-Leach-Bliley Act, Regulation E and US PATRIOT Act.
  • Knowledge of processing underwriting and/or closing procedures/federal lending regulations governing real estate lending.
  • Familiarity with Bank security and safety practices.

Skills

  • Excellent communications, planning, customer service, organization and interpersonal skills to deal effectively with customers, bank attorneys and bank personnel.
  • Thorough understanding of federal banking compliance and requirements.
  • Excellent PC skills.

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