Commercial Loan Closing Coordinator

Description

Summary/Objectives

Manage the loan closing process for commercial customers. Provide status updates to loan officer throughout the loan closing process. Accountable for the identification of risk inherent in the loan transaction and communication of that knowledge. Ensure compliance with all commercial loan regulations related to the job function. Adhere to regulatory changes, compliance issues and bank policy and procedures.

Essential Functions

• Prepare loan packages and instruction letters to outside counsel; work with Bank counsel to finalize same.
• Order appraisals, environmental reports, collateral searches and other supporting material to support the loan closings as appropriate. Monitor commitment conditions so that the file can be credit cleared within three weeks after customer signs commitment. Order the appraisal within twenty-four hours after receipt of loan decision.
• Monitor line and loan expiration dates and with lender take necessary actions to renew or terminate relationship.
• Monitor file for commitment conditions and review/signoff once received. And provide status updates to the Loan Officers; act as liaison for loan officers, lender, borrowers, closing attorney and underwriter.
• Prepare all closing documents for closing counsel or in-house as instructed.
• Managing deadlines and progress across the team to ensure all parts are on time.
• Field Maintenance after files go to Quality Control.
• Working often with Excel, constantly updating various reports.

Requirements

• An Associate's degree in finance, business, or equivalent work experience closing real estate loans
• Excellent customer service skills
• Intermediate computer skills
• Strong oral and written communication skills
• Basic math skills
• Ability to work in a fast paced environment and multi task