Commercial Loan Closer

JOB DESCRIPTION

Position Title: Commercial Loan Closer / Senior Commercial Loan Closing Specialist

Reports To: Closing Manager / Designated Lending Operations Manager

Exemption Classification: Non-Exempt

Department: Commercial Lending / Loan Operations

JOB PURPOSE

The Commercial Loan Closer is responsible for independently coordinating and managing the closing and funding of commercial loans in accordance with established bank policies, procedures, regulatory requirements, and approved loan terms.

This position requires extensive commercial lending experience, strong organizational skills, and the ability to manage complex loan transactions with minimal supervision. The Commercial Loan Closer works closely with commercial lenders, credit administration, legal counsel, title companies, borrowers, and other parties to ensure loans are properly documented, closed, and funded in a timely and accurate manner.

DUTIES AND RESPONSIBILITIES

• Independently manage the commercial loan closing process from receipt of loan approval through final documentation, execution, funding, and delivery of completed loan files.
• Review loan approvals, underwriting conditions, and supporting documentation to ensure all closing requirements are satisfied and loan documents accurately reflect approved terms and conditions.
• Coordinate the preparation, review, and execution of commercial loan documents, including promissory notes, loan agreements, security agreements, deeds of trust, guarantees, and other required documents.
• Review organizational and legal documentation for corporations, partnerships, limited liability companies, trusts, and other borrowing entities to verify proper authority and execution requirements.
• Review title commitments, surveys, insurance documentation, lien searches, UCC filings, and other collateral-related documents to identify and resolve deficiencies prior to closing.
• Coordinate with commercial lenders, credit administration, legal counsel, title companies, borrowers, and other parties to resolve documentation issues and facilitate timely loan closings.
• Ensure all loan approval conditions, collateral requirements, and documentation exceptions are appropriately addressed prior to funding.
• Prepare and review closing instructions, settlement statements, funding requests, and disbursement documentation to ensure accuracy and compliance with approved loan terms.
• Perform mathematical calculations relating to principal, interest, fees, loan proceeds, and other amounts associated with commercial loan transactions.
• Coordinate and arrange the funding of loan proceeds, including the preparation and verification of funding instructions and disbursement requests in accordance with bank procedures.
• Verify that required liens and security interests are properly documented and that appropriate steps have been taken to establish and perfect the bank’s collateral position.
• Review executed loan documents for completeness, accuracy, and proper execution, identifying and resolving deficiencies.
• Maintain accurate closing records, checklists, and documentation to track outstanding requirements, closing conditions, and post-closing exceptions.
• Coordinate the delivery of completed loan packages to the appropriate department for loan boarding, servicing, imaging, and retention.
• Monitor and follow up on outstanding post-closing documentation, including recorded deeds of trust, original security instruments, title policies, lien filings, and other required documents.
• Communicate with commercial lenders and management regarding closing status, outstanding requirements, potential delays, and matters requiring additional approval or attention.
• Manage multiple commercial loan closings simultaneously while maintaining accuracy, meeting deadlines, and providing a high level of service to internal and external customers.
• Ensure compliance with applicable banking regulations, internal controls, loan policies, and established closing procedures.
• Identify potential documentation, collateral, or compliance concerns and escalate matters to the appropriate personnel when necessary.
• Perform other duties as assigned by management.

MINIMUM REQUIREMENTS

Education

• High school diploma or equivalent required.
• Associate’s or bachelor’s degree in business, finance, accounting, or a related field preferred.
• Additional training or certification in commercial lending, loan documentation, or banking operations is beneficial.

Experience

• Minimum of 5 years of commercial loan closing or commercial loan documentation experience preferred.
• Demonstrated experience independently managing commercial loan closings with minimal supervision.
• Experience with commercial real estate loans, commercial and industrial loans, construction loans, and commercial lines of credit.
• Experience reviewing complex borrowing entities, collateral structures, and loan documentation.
• Experience working with commercial lenders, attorneys, title companies, and other parties involved in commercial loan transactions.

KNOWLEDGE, SKILLS, AND ABILITIES

• Strong understanding of commercial lending practices, loan documentation, and closing procedures.
• Working knowledge of commercial loan structures, including commercial real estate, construction, commercial and industrial loans, and lines of credit.
• Strong knowledge of collateral documentation, lien perfection, title commitments, surveys, insurance requirements, and UCC filings.
• Ability to review and interpret commercial loan approvals, legal documents, organizational documents, and closing instructions.
• Ability to recognize documentation deficiencies, inconsistencies, and potential risks and take appropriate steps to resolve them.
• Strong mathematical, analytical, and problem-solving skills.
• Excellent organizational skills and the ability to manage multiple priorities and deadlines in a fast-paced environment.
• Strong attention to detail and commitment to accuracy.
• Ability to work independently, exercise sound judgment, and make decisions within established policies and procedures.
• Proficiency in Microsoft Office applications and commercial loan documentation and processing systems.
• Strong written and verbal communication skills.
• Ability to work effectively with commercial lenders, credit personnel, attorneys, title companies, borrowers, and other internal and external parties.
• Ability to maintain confidentiality and handle sensitive customer and financial information.
• Ability to adapt to changing priorities and work additional hours when necessary to meet closing deadlines.

PHYSICAL REQUIREMENTS

• Ability to efficiently operate a personal computer and standard office equipment.
• Ability to read, review, and interpret written and electronic documentation.
• Ability to communicate effectively in person, by telephone, and through electronic correspondence.
• Ability to perform duties in a standard office environment, with or without reasonable accommodation.

SUPERVISORY RESPONSIBILITIES

None.

INTERACTION

This position requires regular interaction with commercial lenders, credit administration, loan operations, legal counsel, title companies, insurance representatives, borrowers, and other internal and external parties involved in commercial loan transactions.

GENERAL STATEMENT

The above statements describe the general nature and level of work performed by employees assigned to this position. They are not intended to represent an exhaustive list of all responsibilities, duties, or skills required. Management reserves the right to modify or assign additional responsibilities as necessary.