As the SBA/Commercial Loan Closer, you will be responsible for obtaining, reviewing, organizing and making decisions regarding accuracy on all appropriate paperwork and documentation in order to close and fund Commercial / SBA Loans. this position ensures loan closings are in compliance with credit policy, legal entity structures and have received appropriate loan approvals. This position requires in-depth knowledge & experience associated with regulatory compliance requirements, reviewing legal language, SBA forms & eligibility and structure of loan documentation including Loan Agreements, Financial Covenants, Subordination Agreements, Operating Agreements, Notes, Guaranty Agreements, Assignment Agreements, Deed of Trust documents, Title Insurance & Endorsements and Property/Liability Insurance documents, etc.
Essential Functions & Responsibilities:
40% - Review, approve, structure, and finalize Commercial / SBA loan documents required for all new loan requests to ensure regulatory and FSCU compliance, ensure documents are consistent with the credit approvals and credit policy, and work with the borrower, closing attorney, and Title/Escrow Company to ensure collateral liens are perfected (re-verify lien position and loan documents post-closing).
30% - Ensure required data on the borrower and loan information is accurately recorded/input into the system to generate quality loan packages. Partner with Business Development Officers and Underwriters to ensure closing documents are accurate and compliant so clients enjoy a positive closing experience.
15% - Investigate and resolve loan issues by dealing with both internal and external parties.
10% - Follow all FSCU policies and procedures and ensure compliance with applicable laws / regulations as well as all SBA guidelines. Take responsibility to seek out and stay aware of any/all compliance training to ensure you maintain an expert level knowledge of closing requirements and documentation.
5% - Other job duties as assigned.
1. The Closer validates all loan documents meet regulatory guidelines, First Service Credit Union (FSCU) policies & procedures and SBA SOP.
2. Accurately prepares and/or validates the final closing settlement statement.
3. This is a production based role with a strong quality component and in-depth knowledge of loan documentation required to guarantee success.
4. Job requires excellent organizational and communication skills to ensure closing deadlines are met while providing high quality closing document packages.
5. Job requires the ability to work well under pressure within a limited time frame to meet service level expectations.
Knowledge and Skills:
Experience: Three years to five years of experience in a Commercial / SBA loan closing and/or funding environment. Working knowledge of SBA Standard Operating Procedures and location of related reference materials.
Education: Equivalent to a college degree (BS or BA in a relevant field).
Interpersonal Skills: A significant level of trust and diplomacy is required, in addition to normal courtesy and tact. Work involves extensive personal contact with others and is usually of a personal or sensitive nature. Work may involve motivating, influencing or training others. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others. Personal interactions are necessary for providing or obtaining information, building member relationships and/or soliciting cooperation.
- Excellent written and verbal communication skills.
- Working knowledge of Microsoft Outlook, Word and Excel.
- Ability to evaluate documentation and make decisions.
- Ability to multi-task while still maintaining careful attention to detail.
- Ability to work independently and balance multiple work assignments while meeting deadlines.
- Professional demeanor and the ability to deal effectively with people and work across departments.
While performing the duties of the job, the employee is regularly required to:
-- position his/herself to move about the work area
-- reach, grab and/or sort
-- communicate with others via the telephone and/or in person
-- identify and recognize small font communication
-- have the ability to transport a minimum of 10 pounds