Senior Loan Closer

Senior Loan Closer

Job Description

JOB SUMMARY : The Senior Loan Closer is primarily responsible for coordinating, assigning, reviewing and verifying loan documentation and closing needs for diverse and complex consumer, commercial and industrial loans, including real estate loans, construction loans, participations, syndications, and government insured/guaranteed loans. This position acts as a control over critical lending activities by: (i) identifying and resolving potential closing related issues prior to disbursement of loan proceeds, (ii) ensuring the documents reflect the terms and conditions of the credit approval and comply with applicable internal guidelines and state/federal regulatory requirements, (iii) ensuring that all due diligence requirements to close are met before loans are closed and funded, and (iv) providing complete and adequate booking package for loan boarding immediately after funding. Provides departmental reports as directed by management. The Senior Loan Closer acts in the capacity of a senior role and directly interacts with internal team members and business partners to ensure that all loans are closed and funded within established and/or anticipated closing timelines. These responsibilities are to be performed under limited supervision. 

PRE-CLOSING REVIEW RESPONSIBILITIES/ESSENTIAL FUNCTIONS:

Coordinates, assigns and facilitates upcoming loan closings and fundings. Reviews loan packages for compliance, accuracy, and completeness. Establishes on-going communication with team members, lending and credit officers, underwriters, and other business partners regarding any changes in credit approvals and/or loan terms. Analyzes closing issues, identifies potential closing related issues and develops appropriate resolutions to resolve closing related issues prior to customer execution and release of loan proceeds. 

1. Perform thorough reviews of loan documentation for all aspects of loan types including but not limited to commercial real estate, non-real estate and mortgage loan transactions.
2. Coordinate and complete the loan closing/funding process by working with inter-departmental team members, which include loan officers, underwriters, credit, and external customers, attorneys, title companies.
3. Managing client expectations relevant to documentation and timing of loan closings, while striving for excellent client experience through ongoing interactions with clients and building strong relationships by efficiently and professionally handling Commercial Real Estate loan closings.
4. Ensure compliance with all loan requirements such as approved terms and conditions, regulatory requirements, bank policies and procedures using prudent closing practices and proper documentation.
5. Loan Documentation Preparation utilizing LaserPro and/or thorough knowledge of attorney prepared commercial loan documentation prepared in accordance with the loan document request and credit approval.

Reviews loan packages immediately after customer execution to ensure there are no changes and that all documents are properly signed and executed by the designated parties. Provides timely and accurate funding authorization to Loan Booking Specialist upon receipt of required fully executed loan documents to ensure departmental funding standards are met.

Reviews and finalizes disbursement requirements and loan boarding instructions prior to submitting loan funding & booking package to loan boarding.

Serves as a knowledge resource and subject matter expert for closing requirements and due diligence documentation of complex and specialized transactions (e.g. commercial loans, optionally priced loans, participated loans/syndicated loans, government insured/guaranteed loans, etc.).

Prepares internal and external lending reports as needed.